Whew, it was another busy real estate week on sunny Sanibel & Captiva Islands. A front passed through the area last night bringing picture-perfect weather today which is expected to continue through the weekend. Another big renter/visitor turn-over is expected tomorrow, though not as many as last weekend. We have also heard of several winter residents heading home to finish their taxes (what a terrible reason to leave the islands). 

Here at SanibelSusan, we are smiling. It was a 3-closing morning and a good week for sales. Our terrific buyers and sellers are much appreciated.

Now that three months of stats are behind us, it is interesting to see that average condo and home prices are beginning to tick up. Please don’t give too much credence to these numbers though as big sales can and have skewed the averages. Prices in most complexes and communities continue to drop as evidenced by the weekly report of MLS activity below. Here are Sanibel sales posted in the islands MLS for the period January 1 to April 1, this year compared to last:

            Condos                                 Homes                                      Lots

            # Sold   Avg Sale Price   # Sold   Avg Sale Price  # Sold  Avg Sale Price

2010     30         531,976             36         710,268            6          310,000

2011     37         688,506             50         774,954            5          299,500  

They Still Love Us

I read an interesting article this week in the Florida Realtor® monthly magazine:

“Sure it’s been a tough few years for Florida real estate, but the growing importance of foreign homebuyers has offset some of the damage. Roughly two out of every three Realtors® in the state had at least one international transaction within the past year. The National Association of Realtors® in cooperation with Florida Realtors®, conducted a survey of Florida members, asking them about their experience working with international customers. Here are the highlights:

• Half the respondents said that international customers accounted for 25% of their business or less; 15% reported that international buyers accounted for more than half of their business.
• 51% of the international customers purchased a detached single-family home; 37% a condo; 11% a town house, and 1% some other type of home.
• 38% purchased property in a suburban area, 30% in a resort area, 25% in a central city, and 7% in a small town or rural area.
• 15% plan to use their property less than one month per year; 21%, one to two months; and 34% three to six months.”

In comparing these stats to my business, so far this year I have had three transactions out of 13 (23%) with foreign buyers/sellers. Last year, out of 24 transactions, four (17%) were non-U.S. Hopefully my certification last fall for transnational referrals will boost these numbers too. Canada, Europe, and Latin America are the three largest global sources of Florida Buyers.

With most of our island sales to move-up buyers, or folks who already own here, our local advertising and frequent mailings continue to be our biggest business source. Next week, we hope to report another internet venue that is working on posting our listings now. Stay tuned.

Sanibel & Captiva MLS Activity March 25 – April 1:

Sanibel

CONDOS

5 new listings: Sundial #G104 2/2 $549K, Pointe Santo #C35 3/2 $879K, Villas of Sanibel #A202 3/3 $995K, Sundial #K103 2/2 $1.1M, Sedgemoor #103 3/3.5 $2.85M.

14 price changes: Mariner Pointe #1062 2/2 now $320K, Sundial #G107 1/1 now $320K, Spanish Cay #C1 2/2 now $374.5K, Loggerhead Cay #333 2/2 now $419K, Sundial R203 2/2 now $535K, Loggerhead Cay #574 2/2 now $549K, Shell Island Beach Club #7B 2/2 now $599K, Pointe Santo #D42 2/2 now $599K, Loggerhead Cay #411 2/2 now $649K, Pointe Santo #D2 2/2 now $665K, Sunset South #4A 2/2 now $719K, Sundial #K205 2/2 now $825K, Pointe Santo #A35 2/2 now $949K, Pointe Santo #C3 3/2 now $949K.

4 new sales: Sundial #P301 2/2 listed for $599K (our listing), Sunset South #4A 2/2 $719K, Janthina #3A 3/2 listed for $1.375M, Sedgemoor #201 3/3.5 listed for $2.495M (our listing).

7 closed sales: Mariner Pointe #733 2/2 $289K (our listing), White Caps South #7 1/1 #335K, Sundial #Q205 3/2 $665K, Janthina #1B 3/2 $900K (our buyer), Sundial #N204 2/2 $950K (our listing), Atrium #205 3/2 $1.15M, Dosinia #D3 3/3 $1.3M.

HOMES

6 new listings: 9248 Belding Dr 3/2 $295K; 976 Greenwood Ct S 3/2.5 half-duplex $349K; 480 Peachtree Rd 3/3 $659K; 231 Daniel Dr 3/2.5 $789,987; 3050 West Gulf Dr 3/2.5 $799K; 4781 Tradewinds Dr 3/2 $1.995M. 

15 price changes: 1425 Sandpiper Cir 2/2 half-duplex now $359K; 978 Greenwood Ct S 3/2.5 half-duplex now $379K; 1027 Sand Castle Rd 2/2 now $399K (short sale); 1291 Par View Dr 3/2 now $525K; 1674 Bunting Ln 3/2 now $553K; 4573 Bowen Bayou Rd 3/2 now $598K; 280 Southwinds Dr 3/3.5 now $599K; 4797 Rue Helene 3/2 now $599.9K; 4714 Rue Belle Mer 3/2 now $649K; 728 Anchor Dr 4/3 now $699,999; 1538 Royal Poinciana Dr 3/3 now $795K (short sale); 1172 Kittiwake Cir 5/3 now $995K; 1558 San Carlos Bay Dr 2/2.5 now $999,999; 2294 Wulfert Rd 4/4 now $1.149M; 785 Birdie View Pt 3/2.5 now $1.2M.

2 new sales: 1148 Shell Basket Ln 4/2 duplex listed for $398K, 1740 Middle Gulf Dr 4/3 listed for $735K.

6 closed sales: 446 Lagoon Dr 2/2 duplex $310K (short sale), 9428 Moonlight Dr 3/2 $460K, 799 Conch Ct 3/2.5 $729K (short sale), 5729 Baltusrol Ct 3/3.5 $1.025M, 4617 Rue Belle Mer 4/3 $1.95M, 3745 West Gulf Dr 4/4.5 $5M (our buyer).

LOTS

No new listings.

1 price change:  1114 Seagrape Ln now $575K.

No new or closed sales.

Captiva

CONDOS

2 new listings:  Tennis Villas #3216 1/1 $280K, Sunset Beach Villas #2224 2/2 listed for $659K.

1 price change:  Beach Villas #2613 1/1 now $485K.

No new or closed sales.

HOMES

No new listings.

4 price changes: 56 Sandpiper Ct 2/2.5 now $765K, 11550 Laika Ln 4/3.5 now $1.495M, 16171 Captiva Dr 4/4.5 now $1.745M, 16237 Captiva Dr 5/5.5 now $3.225M.

3 new sales: 11536 Andy Rosse Ln 3/3 listed for $1.5M, 6 Sunset Captiva Ln 3/2 listed for $1.875M, 16778 Captiva Dr 4/3 listed for $3.995M.

LOTS

Nothing to report.