It’s another Sanibel Friday, but we do not have much to report. It was a bright and sunny week, but we received only a handful of showing requests. Lisa and I (Susan) were out showing property yesterday afternoon which was fun, but hot. Summer weather definitely is here. We didn’t make a sale, but made a good start with some folks helping their son find the Sanibel-perfect home.
This island-wide celebration scheduled for February 26 through March 4 will mark the 75th anniversary of the Sanibel Shell Fair and Show. Mark your calendars now. Many events are being planned in addition to the fair/show. Kick-off actually begins with the upcoming Sanibel & Captiva Independence Day Parade on July 4th where the theme is “Shellabration”. Good parade viewing is in front of Sanibel Susan Realty Associates.
New Realtor® Member Orientation
On Tuesday, I monitored the afternoon orientation sessions for our new Realtor® Association members. It is interesting that even in a down market folks are joining our profession and jumping into the real estate fray on Sanibel and Captiva. When new members join our organization, after completing the class work and successfully passing the test for a real estate sales license, they are required to spend a day in training locally. That training includes a morning session covering how the Realtor organization works, ethics obligations, the mechanics of our Multiple Listing Service, and contract preparation. This last segment is taught by Tim Murty, one of our local real estate attorneys. The afternoon sessions that I monitored include a visit to the Sanibel-Captiva Conservation Foundation (SCCF) where their Director of Education, Kristie Anders, provides a terrific overview of how the islands were formed, their history, water supply, and the environmental considerations of island property. The last stop is a meeting at City Hall where a city planner covers The Sanibel Plan, Land Development Code, ecological and flood maps, and how a Realtor can benefit from the resources available to them at the local government level. As a member of our local and state Professional Development Committees, I always enjoy participating in these classes. There are always new tricks for the old dog to learn and particularly from Kristie, I always come away with exciting new information that I share with the team and that helps us in business.
Unfortunately, the top news item today is again water quality. As I mentioned last week, the islands have received no rain for several weeks, even though we had expected some last weekend. As a result the water quality in the Caloosahatchee River has further deteriorated to the point that Lee County has issued a health advisory. Signs are posted that humans and animals should not enter the water, drink the water, or consume fish taken from the water. Here’s a link to more info:
Your help is needed as described in this excellent ad published this week by SCCF and the Caloosahatchee River Citizens Association: http://hosting.fyleio.com/14414/public/SunSCCFAlgae2011June17Press.pdf
I had lunch today with Dave Schuldenfrei who manages VIP Vacation Rentals. When I asked him how the rest of their bookings look for the month, he said that rentals next week are about the same as this week, approximately 40 percent occupied. That didn’t sound so great, until he said “it’s an improvement over last year.” Like sales, he attributes continued low occupancy to the economy.
Real Estate Sales in General
Most of the in-season sales now have closed. This week it was good to see a gulf-front Sanibel lot hit the books. Interestingly, it went on the market in early 2007 for $4.8M and sold for $2.175M which I think is a great price for a beach-front parcel that is 100′ wide – not many of those left. Unfortunately the average asking price of the other four Sanibel lots currently under contract and awaiting closing is $171,778. It certainly illustrates how prices vary.
You will notice from the MLS summary below that sales certainly have slowed down. Only three new sales were announced this week on Sanibel. Thankfully, one is both our listing and sale.
Even though many Sanibel sellers have taken their property off the market for the summer, there still are 229 condos, 244 homes, and 104 lots for sale. The average number of days on the market for those listings is still better than a year, at 472 days on the market – without selling.
Here’s a synopsis of island sales to-date in 2011. Bear in mind that this has been a year of more high-end and low-end sales. The mid-priced properties from about $300K to $1.5M still are languishing. (Darn it.)
Sanibel condos – 83 have sold, average price $675,255 in 280 days
Captiva condos – 15 have sold, average price $790,857 in 557 days
Sanibel homes – 90 have sold, average price $845,969 in 402 days
Captiva homes – 12 have sold, average price $2,245,233 in 344 days
Sanibel lots – 10 have sold, average price $464,535 in 316 days
Captiva lots – no sales
Sanibel & Captiva MLS Activity June 10-17
3 new listings: Sundial #G207 1/1 $245K (short sale), Mariner Pointe #1052 2/2 $549K, Loggerhead Cay #402 2/2 $589K.
5 price changes: Captains Walk #D3 1/1 now $175K, Tennisplace #C21 2/1.5 now $240K (short sale), Sundial #F408 1/1 now $309K, Sanibel Arms #D8 2/2 now $409.5K, High Tide #B202 2/2 now $1.499M.
2 new sales: Spanish Cay #A1 2/2 listed for $319.9K (our listing & sale), White Sands #15 2/2.5 listed for $749K.
3 closed sales: Blind Pass #A105 2/2 $360K, Island Beach Club #P1A 2/2 $400K, Tarpon Beach #204 2/2 $600K.
3 new listings: 2027 Sunrise Cir 4/4 duplex $565K, 1866 Ardsley Way 3/2.5 $579K, 585 Lake Murex Cir 3/2 $699K.
9 price changes: 2621 SanCap Rd 3/2 now $289K; 966 Fitzhugh St 2/1 now $364K; 3145 Twin Lakes Ln 3/3 now $529,925; 1019 Lindgren Blvd 3/2 now $799K; 998 Whelk 3/2.5 now $799K; 2540 Coconut Dr 4/3.5 now $899K; 228 Violet Dr 4/2/2 now $1.425M; 730 Birdie View Pt 3/2.5 now $1.449M; 1141 Paper Fig Ct 3/3.5 now $1.594M.
1 new sale: 535 Piedmont Rd 3/2 listed for $355K.
4 closed sales: 4573 Bowen Bayou Rd 3/2 $575K, 751 Sand Dollar Dr 4/2.5 $750K, 5379 Shearwater 4/3 $970K, 544 Lighthouse Way 5/5.5 $2.15M (our buyer).
2 new listings: 600 Hideaway Ct 295K, 4954 Joewood Dr $549K.
No price changes or new sales.
1 closed sale: 4333 West Gulf Dr $2.175M.
No new listings.
1 price change: Gulf Beach Villas #2116 1/1 now $429K.
1 new sale: Marina Villas #709 2/2 listed for $595K.
2 closed sales: Bayside Villas #5110 1/2 $236K, Bayside Villas #5204 1/2 285K.
No new listings.
1 price change: 941 South Seas Plantation Rd 3/3.5 now $4.995M.
No new or closed sales.
Nothing to report.
This representation is based in whole or in part on data supplied by the Sanibel & Captiva Islands Association of Realtors or its Multiple Listing Service. Neither the association nor its MLS guarantees or is in any way responsible for its accuracy. Data maintained by the association or its MLS may not reflect all real estate activity in the market. The information provided represents the general real estate activity in the community and does not imply that SanibelSusan Realty Associates is participating or participated in these transactions. If your property currently is listed with another broker, this is not intended as a solicitation of that listing.