There usually is a flurry of closings the end of December. Here is an update of the Sanibel real estate market as of this afternoon:
- 152 condos have sold/closed this year. That’s one more than 2012. Another 13 condos are under contract so there could be a few more closings posted this year. Average condo sale price is up 3% over last year. There now are 159 condos for sale, with year-to-date average sale price 72% less than today’s average asking price. That’s a huge disparity!
- 189 homes have sold/closed this year – six more than 2012, with another 24 under contract awaiting closing. Average home sale price is up 11% over last year. There are 181 homes for sale, with year-to-date average sale price 40% less than today’s average asking price. That still is quite a disparity.
- Lots are a tougher commodity to compare. 25 Sanibel lots have sold this year, eight less than last year. Four are under contract. Prices are all over the map, from gulf-front at $3.74M to inland at $185K. But since today’s lot inventory has been on the market an average of 2+years, it is probably safe to say that most are priced high.
Lucky Friday the 13th on Sanibel & Captiva Islands
The island was a little less busy traffic-wise this week than last, but the weather was perfect. With winter in full force in so many other parts of the country, we had calls and e-mails from prospective buyers and owners dreaming of the islands, but it didn’t make the two offers received last week come to a successful conclusion. Hopefully, we will see more of those soon.
Yesterday, teammates David and Lisa spent a few hours at Gulfside Place working on an inventory. While there, they put out open house signs optimistically looking to attract buyers and reported back that they had excellent owner traffic. Many lookers taking fliers to pass along to friends and family also interested in the complex.
This afternoon Dave is holding open Pointe Santo C34. Buying a condo on Friday the 13th could be lucky! Below is the view from that terrific condo!
Holiday Festivities
The islands are all decked out for the holidays following successful luminary nights last weekend on both Sanibel and Captiva. The tree-lined canopy over the bike path bordering City Park across the street from SanibelSusan Realty is festooned with glittering lights which was a new addition this year.
Island celebrations continue up and through Christmas with many new events in Captiva’s Village free and open to the public. The lighted boat parade tomorrow night (Dec 14) is always a favorite with many of the boats already decorated, lit each night, and moored at South Seas Resort. South Seas calendar is filled with plenty of activities for visitors and the public too. Proceeds from the resort events will benefit Golisano Children’s Hospital of SW Florida. The below photos were taken last night when SanibelSusan and a few BIG ARTS Community Chorus pals sang during the South Seas holiday stroll which takes place evenings along the marina boardwalk at the resort.
Christmas Eve at Lighthouse Beach
It is beginning a half hour earlier this year (at 5 p.m. on Dec 24) to accommodate bikers and walkers.
There will be a special bike corral set up at the end of the newly improved and widened shared-use path leading to Lighthouse Beach.
There also will be parking at the Chamber of Commerce with trolley service to the beach.
Mortgage Rates Climb on Strengthening Economy
“Fixed-rate mortgages were on the rise this week, following a 25% monthly jump in new-home sales and an improving job outlook report, Freddie Mac reports in its weekly mortgage market survey. Freddie Mac reports the following national averages for mortgage rates for the week ending Dec. 5:
- 30-year fixed-rate mortgages: averaged 4.46%, with an average 0.5%, rising from last week’s 4.29% average. Last year at this time, 30-year rates averaged more than a full percentage point lower at 3.34%.
- 15-year fixed-rate mortgages: averaged 3.47, with an average 0.4 point, rising from last week’s 3.30% average. A year ago, 15-year rates averaged 2.67%.
- 5-year hybrid adjustable-rate mortgages: averaged 2.99%, with an average 0.4 point, jumping from last week’s 2.94% average. Last year at this time, 5-year ARMs averaged 2.69%.
- 1-year ARMs: averaged 2.59%, with an average 0.4 point, dropping from last week’s 2.60% average. A year ago at this time, 1-year ARMs averaged 2.55%.”
Home Trends to Get Bolder in 2014
“What will be “hot” in home interiors in the New Year? Plenty of designers are offering up their predictions, and here’s one outlook from Neil Kelly Co., a remodeling firm based in Portland, OR.
Neil Kelly Co. offers up some of the following interior design trends for 2014:
- Embellished showers: Showers are becoming more popular than tubs, and one feature growing in popularity is the curb-less shower.
- U-sockets: These wall plugs have two built-in USB ports to power up devices, such as iPhones, digital cameras, tablets, and more. U-sockets also have a smart sensor that allows it to automatically shut off when the device is fully charged.
- Stand-alone bath tubs: For those home owners who still desire a bathtub, the free-standing tub is growing in demand. It takes up less space and also serves as a structural element to dress up a room.
- Seeing blue: Bright colors are “in,” particularly cobalt blue. Expect to see it more in the new year, even in the kitchen.
- More modest decor: The industrial modern decor look was big in 2013, but Neil Kelly Co. designers expect that style to be more “relaxed, classic, and modest” in 2014. Stone, metal, and wood will continue to be popular, but the designers expect that rounded designs with earth shades and raw metal finishes to become more prevalent in interiors in 2014.
- More multigenerational features: More multigenerational features will be incorporated homes to help better accommodate more people living under one roof, such as aging parents and boomerang kids. For example, features like wall mounted sinks for wheelchairs, walk-in bathtubs, and motion sensing faucets are expected to grow in demand.
- Eco-friendly cabinets: Earth-friendly cabinets that are chemical-free and do not have added formaldehyde and non-toxic glues, binders, and finishes will likely increase in popularity.”
Sanibel & Captiva Islands Multiple Listing Service Activity December 6-13
Sanibel
CONDOS
7 new listings: Seawind #A107 2/2.5 $449K, Sunset South #1C 2/2 $495K, Loggerhead Cay #322 2/2 $549K, Sandpiper Beach #502 2/2 $749K, Pointe Santo #B46 2/2 $799K, Kings Crown #303 2/2 $978K, Poinciana #2C 3/2 $1.2M.
No price changes.
2 new sales: Sundial #H411 1/1 listed for $189K (short sale), By The Sea #102 2/2 listed for $1.295M.
1 closed sale: Duggers Tropical Cottages #2 1/1 $230K.
HOMES
8 new listings: 1252 Sand Castle Rd 3/2 $579K, 562 Lake Murex Cir 3/2 $699K, 1182 Kittiwake Cir 3/3 $749K, 6440 Pine Ave 3/3 $1.595M, 4781 Tradewinds Dr 3/2 $1.595M, 1232 Isabel Dr 3/3 $1.85M, 1206 Bay Dr 4/4.5 $3.875M, 1077 Bird Ln 4/4/2 $5.999M.
9 price changes: 1709 Sand Pebble Way 4/3 now $439.9K, 5307 Ladyfinger Lake Rd 3/3 now $595K, 1300 Par View Dr 3/2 now $749K, 497 Lake Murex Cir 4/3 now $799K, 2667 Coconut Dr 3/3 now $825K, 6001 Clam Bayou Ln 3/2 now $839K, 5753 Pine Tree Dr 3/4 now $874K, 785 Birdie View Pt 3/2.5 now $1.099M, 1066 Bailey Rd 3/3 now $1.375M.
4 new sales: 731 Nerita St 3/2 listed for $559K, 9405 Beverly Ln 3/2 listed for $695K, 5206 Punta Caloosa Ct 3/2 listed for $797K, 2367 Wulfert Rd 4/3.5 listed for $1.188M.
2 closed sales: 747 Martha’s Ln 3/2 $509.5K, 5403 Shearwater Dr 4/3 $1M.
LOTS
3 new listings: 5321 Punta Caloosa Ct $394.5K, 4636 Rue Royale $495K, 2427/41/51 Palm Ridge Rd $919K.
No price changes or new sales.
1 closed sale: 5439 Osprey Ct $355K.
Captiva
CONDOS
2 new listings: Tennis Villas #3233 2/2 $450K, Sunset Beach Villas #2333 3/2 $820K.
No price changes, new or closed sales.
HOMES
1 new listing: 16512 Captiva Dr 7/5.5 listed for $7.699M.
1 price change: 11532 Wightman Ln 2/2 now $1.35M.
No new sales.
1 closed sale: 16459 Captiva Dr 8/7.5 $2.7M (short sale).
LOTS
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.
Until next Friday, peaceful thoughts for happy shopping, sharing, & holiday enjoying…SanibelSusan