It’s SanibelSusan reporting that in typical fashion, the islands’ 23rd Annual Sam Bailey Islander Night at Hammond Stadium Wednesday night again was rained out. After several weeks of beautiful weather, it should have been no surprise when the first big downpour of the rainy season began just as the parade was scheduled to start. It has happened many times before and June 1 is the beginning of hurricane season.
Continuing the summer trend, more showers are expected later today and through the weekend with all of us watching the tropical storm expected to develop in the gulf early next week. That certainly will not make next week’s vacationers happy, but may result in good shelling and more folks wanting to view property.
At SanibelSusan Realty
Activity-wise in the office, it has been quiet. Even the holiday weekend was very quiet, probably weather-related, as all days were fabulous for the beach. A few listings shown and some phone/email inquiries, but not many – certainly nothing like when it’s snowing somewhere!
Yesterday, The SanibelSusan Team was happy to receive a new listing at Beachcomber (gulf-front ~2600 sq. ft.) which will be posted in the islands’ Multiple Listing Service as soon as we receive a couple of clarifications from the sellers.
May is always an in-between month here, post “high” season, but pre “summer” season. A quick snapshot of the islands’ May real estate sales show that it was not a month with much real estate action.
May Sanibel Sales
In May, were just five new Sanibel home sales with no contingencies (three inland priced under $530K, one on a deep-water canal (asking price $1.545M) and one bay-front in Ferry Landing (asking price $1.995M)).
Another 13 Sanibel homes went under contract with contingencies (four inland priced under $535K, five near the beach (priced from $569K to $600K), one in Beachview (asking $1.195M), one in Gulf Pines (asking $1.479M), one deep-water canal (asking $1.548M), and a unique one across the street from the beach (asking $1.595M)).
In May, Sanibel condos did not have as much action as homes. Just two Sanibel condos went under contract with no contingencies: a 1-bedroom at Sundial (asking $299K) and a recently-remodeled Lighthouse Point bay-front unit (asking $830K).
Another four condos went under contract with contingencies: a Seashells unit (asking $379K), a 1st floor Sanibel Moorings 2 bedrm with peek of gulf (asking $449K), a 3-bedrm Heron-model at The Sanctuary (asking $665K), and a beach-front 2-bedroom at Sanddollar (asking $870K).
During the same time, in May, just two Sanibel lots went under contract: one near beach (asking $244.9K) and one on the bayou (asking $1.295M). Both contracts have contingencies.
May Captiva Sales
In May on Captiva, four homes went under contract with contingencies (two at Sunset Captiva asking $885K and $995K, one gulf-front asking $3.998M, and one on Roosevelt Channel asking $4.8M).
Also in May, three Captiva condos in South Seas Plantation went under contract, all with contingencies. Asking prices ranging from a 1-bedroom Bayside Villas for $289K to a 2-bedroom Tennis Villas for $405K, to a Bayside Villas 3 bedroom for $629.9K
A Captiva gulf-front lot went under contract (with contingencies) in May too, asking price $4.999M.
Below are a few other news items followed by the action posted in the Sanibel and Captiva Multiple Listing Service since last Friday.
Sanibel & Captiva Islands Specialist Designation
Wednesday, for the fifth year, SanibelSusan taught the Resort & Second-Home module to those Realtors® training to receive their Sanibel & Captiva Islands Specialist designation. This designation is a 12-part educational series, offered each summer by the local Association of Realtors. The coursework needs to be completed over a 2-year period and provides instruction to those looking to specialize in working the Sanibel/Captiva market.
I authored the module that I teach, update it each year, and always enjoy the teaching experience – getting as much in return as I give. It was especially fun this year since my students ranged from some new Realtors® to those with many years of real estate experience, but in other parts of the country.
Here are my students adorned in the funny resort-wear they earned for answering questions correctly in my pop quiz.
1st National Seashell Day
As reported in Monday’s “Santiva-Chronicle”:
“As the Lee County Visitor and Convention Bureau said, it’s official. June 20 has been proclaimed National Seashell Day. The news is also out that the first National Seashell Day will be on Good Morning America.
“The VCB (Visitors Convention Bureau) already has a National Seashell Day page on its website. Visitors to the page can enter the “Shell Yeah! Sweepstakes,” for which the grand prize is three nights for four at Sanibel Inn, a Captiva Cruises shelling cruise to Cayo Costa and the chance to go shelling with Pam Rambo. The grand prize is enough to make any Sanibel sheller nod with approval.
“Rambo had the news about Good Morning America on her amazing blog iloveshelling.com. The blog says Ginger Zee, Good Morning America and ABC’s chief meteorologist, will be here on June 20. We don’t know the exact details yet other than it will be in the morning….
“The VCB’s idea for National Seashell Day will get the word out to people of all places about the wonders of shells on our beaches, which is good for anything having to do with shells. The VCB also hopes it will be a driver for tourism….”
Fishing Pier Rehab Project
On Tuesday next week (June 6), the Sanibel Fishing Pier at Lighthouse Beach Park will be closed temporarily due to a necessary rehabilitation project. Construction is expected to continue through August 2016.
Top 10 Outdoor Features, Where Most Are, & What They’ll Pay
Posted in Tuesday’s “DAILY REAL ESTATE NEWS”, you will see Naples, FL on the list below. Buyers all over Southwest Florida like outdoor kitchens!
“As temperatures heat up, more home owners and buyers are taking a closer look at their home’s outdoor features. Realtor.com®’s research team took a look at 10 popular outdoor home features to find the premium that owners will pay. They also identified the regions of the country that are most likely to feature these popular outdoor amenities.
Amenity Premium Where You’ll Most Likely Find Them
Tree houses 5.2% Asheville, N.C.
Gazebo 7.6% McAllen, Texas
Putting green 11.4% Phoenix
Hot tub 11.8% Bend, Ore.
Tiki bar 13.8% Key West, Fla.
Tennis court 14.6% Los Angeles
Outdoor fireplace 21.5% Dallas, Texas
Outdoor kitchen 26.2% Naples, Fla.
Private dock 44.7% Traverse City, Mich.
Infinity pool 56% Kahului, Hawaii”
Red-Hot South Florida Home Prices Are Cooling Off
Much like island Realtors® often look to activity in larger complexes and communities here as bellwethers of the local market, we also look to bigger East Coast communities to foretell what may be in the future. The below article is from the May 31 “Miami Herald”.
“So far in 2016, South Florida home prices are growing at the slowest pace since the real-estate market began to recover four years ago.
“Home prices in Miami-Dade, Broward and Palm Beach counties rose 6.2% between March 2015 and March 2016, according to the closely watched S&P/Case Shiller Home Price Indices. They grew 8.7% between March 2014 and March 2015, and at a double-digit clip for much of 2013 and 2014, fueled mainly by red-hot demand from foreign investors. But a strong dollar and troubled economies abroad have stymied the flow of cash into local real estate.
“Residential home sales fell in Miami-Dade in April, according to Realtors’ data. Weak demand could help make homes more affordable for locals — if wage growth keeps picking up and developers start building more units for the lower tiers of the market.
“The nation’s hottest housing markets are in Portland (12.3%), Seattle (10.8%), Denver (10%), San Francisco (8.5%) and Dallas (8.5%). Home prices in the Tampa area (7.6%) also grew faster than they did in Miami in March.”
Sanibel Prescribed Burns Begin Today
As described in an earlier update, Sanibel will have prescribed burns in six different areas this summer, so if you are on the island today do not be surprised if you smell smoke.
SCCF (Sanibel-Captiva Conservation Foundation and the City of Sanibel are scheduled to perform a prescribed burn of about 19 acres of the Sanibel Gardens Preserve today. (That’s just west of Tarpon Bay Rd. on Island Inn Rd.)
Sanibel & Captiva Islands Multiple Listing Service Activity May 27-June 3, 2016
2 new listings: Colonnades #8 1/1 $229K, Sandalfoot #5A1 2/2 $799K.
1 price change: Tanglewood #1A 3/2 now $1,163,999.
1 new sale: Blind Pass #A102 2/2 listed at $399K.
3 closed sales: Sanibel Arms #E2 1/1 $347.5K, Loggerhead Cay #474 2/2 $489.9K, Donax Village #14 2/2 $505K.
1 new listing: 732 Windlass Way 4/3.5 $1.395M.
5 price changes: 1478 Albatross Rd 3/2 now $679K, 242 Christofer Ct 3/2 now $729K, 232 Robinwood Cir 4/3 now $1.195M, 932 Whelk Dr 3/3 now $1.449M, 1743 Venus Dr 4/3.5 now $1.75M.
3 new sales: 376 Lake Murex Blvd 3/2 listed at $598K, 1245 Isabel Rd 3/3.5 listed at $1.548M, 4257 West Gulf Dr 4/4.5 listed at $4.495M
9 closed sales: 575 Piedmont Rd 3/2 $410K, 2114 Egret Cir 3/2 $475K, 1322 Sand Castle Rd 3/2 $500K, 1380 Jamaica Dr 2/2 $570K, 5303 Ladyfinger Lake Rd 3/2 $622K, 5267 Ladyfinger Lake Rd 3/2 $750K, 595 Birdsong Pl 4/2 $835K, 2388 Wulfert Rd 3/4 $1M, 283 Ferry Landing Dr 3/2 $1.675M.
3 new listings: 9426 Sage Ct $287K, 223 Robinwood Cir $299K, 2288 Starfish Ln $499K.
No price changes.
1 new sale: 3013 Poinciana Cir listed at $244.9K.
No closed sales.
No new listings or price changes.
2 new sales: Tennis Villas #3231 2/2 listed at $405K, Bayside Villas #5302 3/3 listed at $629.9K.
No closed sales.
No new listings, price changes, or new sales.
3 closed sales: 19 Urchin Ct 2/2.5 $855K, 15 Seascape Ct 3/2.5 $985K, 16500 Captiva Dr 5/5 $4.225M.
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 general real estate activity in the community and does not imply that SanibelSusan Realty Associates is participating or participated in these transactions.)
‘til next Friday, here’s hoping the raindrops stay away & the sunsets continue like the one below!
Susan Andrews, aka SanibelSusan