Easter weekend 2021 has arrived with the islands bustling this week with many families on spring holiday. Wonderful bright sunny warm weather has kept the beaches, waterways, and bike paths busy. Late yesterday another cool front passed through SW FL which brought stiff breezes (kiteboarders are happy) and dropped temperatures into the 50’s last night. It still is expected to reach the mid-70’s degrees on Sanibel today, with more of the same weather (no rain) expected for the next seven days.
At my home this morning, in addition to many brilliant pink hibiscus, bougainvillea, and periwinkle blossoms, I noticed that my gardenia bushes are blooming earlier than usual. Spring definitely has sprung here!
At SanibelSusan Realty
Again, this week, we have been busy with condo buyers, offers, listing presentations, and more closing action items. Another listing sale was finalized too, while teammates Dave and Elise also got another big postcard mailing out yesterday. Those postcards continue to bring us productive inquiries.
Usually, Easter week on the islands is one of the busiest of the year. With inventory continuing to dwindle, it will be interesting to see how 2021 differs from the norm.
Just after high season, when rental rates drop, often is when prospective buyers return that want to buy an investment property. Properties in seasonal rental programs that were heavily rented in high season may have a break in bookings between winter visitor bookings and summer vacationers. Those prospective buyers hope more showing opportunities are available during that short window.
In years past, bargain hunters also would return “post season”. Those are hoping to grab a property that may have been listed a long time that a seller wants to be done with before hurricane season.
With the abrupt change in supply and demand over the last few months, it is important to advise owners and prospective sellers that though the “as is” sales contract is used most often on Sanibel, this year, it has resulted in many contract cancellations. We rarely saw those before 2021.
Unlike the standard Florida residential sales contract which has no “out” for a buyer (unless there is a specified contingency), the “as is” contract has an inspection/cancellation period. During that inspection/cancellation period, the buyer may walk away from the sale for any reason. They could just change their mind.
In a hot market like now, buyers are making “as is” offers, often without them or their agent having seen the property. If that buyer becomes the successful offeror and the property goes under contract, the buyer then may come and view the property, or have it inspected, or do their due diligence during the inspection period.
To be successful, in some instances, those offers need to be at least full price and with no contingencies – including a zero-days inspection/cancellation period (no inspection/cancellation period).
Some desirable properties have gone under contract within days or minutes of going on the market, and sometimes over asking price. Which also is why, it is important for buyers to work with Realtors® with strong connections. Sometimes we sleuth out a property that will meet a buyers requirements.
Some sellers have asked us how long this market will continue. I wish we knew that answer, but we can say that it likely will take years for inventory to meet today’s demand. Based on Sanibel sales activity over the pandemic months, today with just 54 properties available (including homes, condos, & lots), there is less than a two-month supply.
Yesterday, teammates and I chatted about how the pandemic has affected sales. The island has welcomed many “new” visitors over the last few months. The City usually posts a warning when the number of vehicles coming across the causeway that day will likely result in heavy off-going afternoon and evening traffic. Many of these “new” visitors discover that they love Sanibel and its lifestyle. Some, who have explored buying in other Florida beach areas, are appreciative of what their dollar can buy here.
With more people being vaccinated, many wanting a vacation break, and others finally feeling more comfortable traveling, though not yet outside the U.S., it may stay busy right through the summer. We have a few listings that fit the profile of the typical spring buyers and we continue to welcome new listings.
All Florida Residents Eligible for Vaccine – The state has announced that on Monday, April 5, all Florida residents are eligible to receive any COVID-19 vaccine as prescribed by the FDA. The Pfizer vaccine is authorized for persons age 16 and up, while the Moderna and Johnson & Johnson vaccines are authorized for persons age 18 and up.
My experience getting my 2nd shot this week at the airport site managed by FL Dept of Health in the north parking lot across from the old terminal was different from my first experience. Still well staffed and efficient, it took a bit longer with many more people being processed. The Disney-like maze of lines waiting to get into the tent for shots was tedious for about 30 minutes, took about 45 minutes total.
SanibelSusan Teammate #3 is getting her first shot on Monday at the same location. Pre-register for an appointment on-line at www.MyVaccine.FL.gov or call 866-200-3468. The week of April 12, this facility is relocating indoors to the old Sears location at Edison Mall (air conditioned).
On The Islands – The Tuesday update from www.MySanibel.com: “The City declared State of Emergency, issued in response to COVID-19, has been extended by Mayor Holly D. Smith until April 6, 2021, unless further extended. Per State Statute, the maximum duration for a Mayoral Declaration of Emergency is seven (7) days and thus must be updated weekly as long as emergency conditions are present.
“Additionally, the City of Sanibel face covering mandate is reaffirmed to be consistent with the Governor’s Order 20-244. The face covering mandate is reaffirmed and shall remain in force and effect throughout the duration of this 7-day state of local emergency. To avoid the spread of COVID-19, social distancing is encouraged, and group gatherings should be avoided.”
According to the FL Dept of Health website, as of March 31, of the 2,064,525 COVID-19 cases reported in Florida, 243 were on Sanibel, 11 on Captiva.
Membership Offerings at The Sanctuary
I received an e-mail update this week from Kathryn Riggio, Membership Coordinator at The Sanctuary Golf Club. She is great at keeping island Realtors® aware of what is happening at the club so that we may correctly advise prospective buyers of the features and membership availabilities there. She said that some club membership price changes will take effect on May 1 when their premier offering, Equity Membership (full golf) increases from $120K to $130K. This membership provides full privileges to activities and sports, dining, and club facilities. The Club offers introductory and temporary memberships too.
Although there currently is at least a 2-year wait list for Social memberships, on May 1, those increase from $30K to $50K. These memberships come with access to the Club social activities and fine dining, the Wellness complex (tennis, pickleball, pool, fitness center, bocce) and to golf including playing the course from May 1 through September 30 for greens and cart fees. Social members do not have voting or redemption rights or hold an equity position in the Club, but the social fee may be applied as a credit toward an Equity Membership fee should a member want to convert their membership.
In addition to the fees mentioned for joining, each membership has annual dues, an annual capitol fee, and an annual food/beverage minimum.
Best spring wishes from The SanibelSusan Team!
Below is a report of the action posted since last Friday in the Sanibel & Captiva Islands Multiple Listing Service.
Sanibel & Captiva Islands Multiple Listing Service Activity March 26-April 2, 2021
4 new listings: Mariner Pointe #231 2/2 $699K, Pointe Santo #D24 2/2 $795K, Sunset South #4D 2/2 $1.05M, Shorewood #2D 3/2 $1.595M.
3 price changes: Sanibel Arms #H6 1/1 now $360K, Loggerhead Cay #351 2/2 now $629K, Island Beach Club #210A 2/2 $729K.
9 new sales: Sundial #D408 1/1 listed at $509.9K; Sanibel Arms West #J5 2/2 listed at $589K; Signal Inn #14 2/2 listed at $789K; Sundial #Q401 2/2 listed at $908K; Sanibel Surfside #123 2/2 listed at $935K; Loggerhead Cay #101 2/2 listed at $998,899; Gulfside Place #218 2/2 listed at $1.349M; Cyprina Beach #2 3/3 listed at $1.6M. Tigua Cay #489 3/3.5 listed at $2.325M.
7 closed sales: Casa Blanca #8 2/1 $340K, Sundial #F307 1/1 $460K, Pelicans Roost #106 2/2 $880K, Kings Crown #104 2/2 $990K (our listing), Gulfside Place #301 3/3 $2.125M, Seascape #106 3/3 $2.55M, Wedgewood #202 3/3.5 $2.595M.
7 new listings: 2011 Mitzi Ln 2/1 $695K, 1186 Sand Castle Rd 3/2 $825K, 2755 Wulfert Rd 3/3.5 $1.098M, 1743 Jewel Box Dr 3/3.5 $1.395M, 2303 Troon Ct 3/4 $1.4959M, 1460 Middle Gulf Dr 4/4.5 $1.799M, 1020 Bayview Dr 5/5.5 $4.595M.
6 price changes: 557 N. Yachtsman Dr 4/3 now $1.129M, 3010 West Gulf Dr 3/2 now $1.349M, 4992 Joewood Dr 3/3.5 now $1.65M, 848 Birdie View Pt 4/3.5 now $1.999M, 5633 Baltusrol Ct 4/4.5 now $2.1M, 544 Lighthouse Way 4/5.5 now $4.25M.
6 new sales: 2441 Shop Rd 4/3.5 listed at $949K, 3570 Bunny Ln 3/3 listed at $869K, 694 Heather Ln 3/3.5 listed at $1.4M, 940 Whelk Dr 3/2 listed at $1.495M, 2311 Starfish Ln 4/4 listed at $1.995M, 750 Periwinkle Way 5/4 listed at $3.3M.
18 closed sales: 4115 Sanibel-Captiva Rd 3/1 $550K, 3040 West Gulf Dr 3/2 $650K, 1753 Bunting Ln 3/2 $720K, 566 Boulder Dr 3/2 $725K, 458 Casa Ybel Rd 3/2.5 $740K, 649 Sea Oats Dr 3/2 $745K, 888 Rabbit Rd 3/2 $749.9K, 1430 Sanderling Cir 4/3.5 $770K, 640 Periwinkle Way 3/2 $825K, 1683 Bunting Ln 3/3 $890K, 1312 Sand Castle Rd 3/2 $950K, 1158 Harbor Cottage Ct 3/2.5 half-duplex $1.095M, 1259 Par View Dr 3/4 $1.125M, 1366 Tahiti Dr 3/2.5 $1.4M, 5439 Osprey Ct 4/3 $1.6M, 784 Birdie View Pt 4/4 $1.795M, 1206 Bay Dr 4/5.5 $2.75M, 4323 West Gulf Dr 6/6 $6.565M.
No new listings or price changes.
1 new sale: 6428 Pine Ave listed at $305K.
3 closed sales: 575 Sea Oats Dr $380K, 5821 Pine Tree Dr $430K, 0 Island Inn Rd $500K.
1 new listing: Ventura Captiva #4A 3/3 $1.1M.
No price changes.
3 new sales: Tennis Villas #3217 1/1 listed at $362.5K, Bayside Villas #5318 3/3 listed at $789.9K, Gulf Beach Villas #2024 3/3 listed at $1.075M.
1 closed sale: Captiva Cove #2A 3/2 $1.295M.
No new listings or price changes.
1 new sale: 14980 Binder Dr 4/4 listed at $2.55M.
3 closed sales: 11505 Gore Ln 5/5 $1.6M, 15361 Captiva Dr 5/4.5 $2.65M, 16394 Captiva Dr 5/4 $6.2M.
Nothing to report.
This representation is based in part on data supplied by the Sanibel & Captiva Islands Association of Realtors® 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.
Below is our ad from today’s “Island Sun”.
Until next Friday, Susan Andrews, aka SanibelSusan