Sanibel White Stuff = Sand & Seashells

It is another sunny Sanibel Friday. More warm weather abounds in SW Florida and the drive across the causeway is back to the brilliant azure blue that we see each spring before the rainy season begins.

There was a noticeable decrease in traffic this week on Periwinkle Way, but the City continues to post their daily noontime warning as soon as more than 5,500 cars cross the causeway. I still drive home from the office the back way, with little to no waits this week between 5 and 6 p.m.

Regarding Sanibel’s State of Emergency due to COVID-19, on Tuesday, Mayor Holly Smith again extended the mask requirement and the emergency proclamation until next Tuesday, April 20. Masks are required in all businesses and outside where social distancing is not possible. It seems to be working with a total of 248 Sanibel cases reported from March 26, 2020 through April 14, 2021, a total of 11 on Captiva.

This May Be the Best Month Ever to Sell a Home

Posted on-line yesterday, Apr 15, 2021 on FloridaRealtors®, by Kerry Smith: “Study: April is the best month to sell a home – more buyer interest, less competition, higher list prices and faster sales – and given market conditions right now that strongly favor sellers, there may never be a better time for homeowners to post a for-sale sign in their yard.”

“In today’s market, it seems as if it’s always a good time to sell a home because they’re selling fast, often sight unseen. However, this month, depending on the city, may be the best time of the best times to sell a home, according to realtor.com’s 2021 Best Time to List analysis. From April 18-24, debuting home sellers should see more buyer interest, less competition from other sellers, a faster sale and a higher listing price, the study suggests.

“To determine the optimum time to list, the study considered competition from other sellers, median listing prices, time it takes to sell, likelihood of price reductions and interest from buyers measured by views per property on realtor.com’s website. Because of COVID’s disruption in 2020, the analysis included 2018-2019 listing data.

“Unlike 2020 when COVID upended the spring home-buying season and pushed buyer interest to later in the year, this year’s housing market is following more typical seasonal trends,” says realtor.com Chief Economist Danielle Hale. “With half as many homes available for sale this year than last, sellers are well positioned for a quick sale at top dollar. However, for most sellers, listing sooner rather than later could really pay off with less competition from other sellers and potentially a higher sale price. They’ll also avoid some big unknowns lurking later in the year, namely another possible surge in COVID cases, rising interest rates and the potential for more sellers to enter the market.”

“However, while that April sweet spot for listing a home may be true for most Florida metro areas, it’s not so consistent in South Florida. According to realtor.com’s analysis, the best day of the year for a seller to list a home in a major Florida metro is:

  • Jacksonville: April 4
  • Miami-Fort Lauderdale-West Palm Beach: July 4
  • Orlando-Kissimmee-Sanford: April 25
  • Tampa-St. Petersburg-Clearwater, Fla.: April 25

What makes the week of April 18 stand out?

Higher price: Homes listed next week typically sell 2% higher than the average week and 10.4% higher than at the start of the year. If 2021 follows the typical seasonal trend, a median priced home listed next week could sell for $7,500 above the average week and $36,000 more than it would have in early January.

Strong buyer demand: Homes typically get 11% more views on realtor.com than the average week throughout the year.

Less competition: Homeowners who listed during the week of April 18 in 2018 and 2019 saw 5% fewer sellers on the market compared to the average week throughout the year.

Faster sale: Historically, homes listed during this week sold 14.1% faster than the average week. In 2021 terms, this would translate to selling in just 59 days – eight days faster than homes listed in other weeks, on average.

A downside to waiting?

While waiting a few months to list a home may be fine, some potential housing market shifts could lessen homeowners’ current advantage. Rising mortgage rates, which realtor.com forecasts will reach 3.4% by the end of the year, could dampen buyer demand later in the home-buying season.

“In addition, improved vaccination rates could also bring more competition if an uptick in homeowners decides that it’s now safe to make a move.

““It’s a seller’s market right now, but you still need to ensure your home makes a great first impression, especially if you want to get the best price for your place,” says Rachel Stults, deputy editor for realtor.com. “The key is zeroing in on what buyers want. In the wake of the COVID-19 pandemic, buyers are looking for more space – or flexible space they can transform into what they need.”” © 2021 Florida Realtors®

Why You Need SanibelSusan Realty Associates

With the “hot” real estate market in many parts of the country, including the islands, we have heard of prospective sellers saying, “You should reduce your commission since you won’t need to do as much work to get my property sold” or “You should charge less if you sell it yourself.”

Let’s consider these suggestions. First, if a seller wants to get sale terms that meet certain expectations, they need to make those requirements known. Perhaps they are only looking to sell if they get a certain price or maybe they can’t close until after a specific date or want to spend another winter here, or maybe they want to sell all their furnishings too.

Should they want the person that will negotiate terms on their behalf, be someone that is willing to give away their own fee? Or should they want someone working for them that will negotiate for them, like they do for themselves. Someone who is tough, but fair, honest, and forthright.

Especially in a hot market, sellers here need the exposure that only a local established on-island Realtor can provide. Everyone deserves solid ethical representation.

I built The SanibelSusan Team because I believe that no one is an expert in everything. In high school, I was voted “best all-‘round”. For years, I thought that meant I could do lots of things but was not a pro at any of them. Then I went to work for the government and then private industry. I found that whether in engineering or management or real estate, the strongest businesses are created with the smartest most-flexible people – not just one person.

On my team, my forte is the analysis, the details, the contracts, probably the result of all those years spent in marine engineering and in writing/administering/negotiating service contracts. I love the nitty gritty in getting a deal done.

Teammate Realtor® David Anderson, is our boots on the ground guy. He oversees the physical aspects of our office and the properties we list and sell. He is our internet sleuth and computer guru. He pulls files at City Hall, determines property values, researches their permit status and their opportunity for development or improvement. He accompanies our inspections, oversees repairs, and does our heavy lifting.

Teammate Elise Carnes, like Dave, has been part of the team for almost 21 years. As our licensed assistant and notary, Elise oversees our listing action items including preparing fliers, inventories, MLS postings, and bulk mailings. She schedules showings, follows up on feedback, and coordinates our weekly and monthly progress reports.

Realtor® teammate Lisa Murty is our Saturday gal. She coordinates weekend showings and updates our island inventory lists. She joined the team in 2007. With a background in the hospitality industry, she always is looking for ways to make selling our listings easy.

Does every SanibelSusan teammate know the ins and outs of the Florida sales contracts and are they all qualified to sell a property? Of course, they are, but more importantly we work together, capitalizing on our strengths, but flexible enough to do it all.

Whether The SanibelSusan Team is working for buyers, sellers, or both, we are fair, honest, and forthright. Our goal is to provide the best service. Our reputation is “we tell the truth” and sometimes that may be hard, but we want to make working with us the ”best” real estate experience.

Sanibel & Captiva Inventory

Table below with data from Sanibel & Captiva Islands Multiple Listing Service 4/16/2021. Prices in italics are asking prices.

Average sale prices are provided for closed sales year-to-date, and in all of the years 2020, 2019, and 2006 (which was the prior peak year).

It is hard to believe that there are only 36 homes currently for sale on Sanibel, compared to 193 sold this year. The condo market is catching up, with just 47 Sanibel condos for sale, 144 sold this year. More Sanibel lots have sold already than in each of the last 15 years. Forty-six have sold, just 28 are for sale.

 

SANIBEL

CONDOS HOMES LOTS
# Avg Price $ # Avg Price $ # Avg Price $
Available 47 841,778 36 2,325,580 28 819,111
Under contract 51 816,900 66 1,415,536 12 1,056,325
Sold to-date 2021 93 864,419 127 1,324,262 34 521,588
Sold 2020 192 733,876 290 954,718 23 606,233
Sold 2019 127 694,392 211 949,790 15 372,200
Sold 2006 143 866,972 156 1,143,682 18 523,917

 

 

CAPTIVA

CONDOS HOMES LOTS
# Avg Price $ # Avg Price $ # Avg Price $
Available 8 1,740,312 16 4,819,874 1 3,995,000
Under contract 14 1,270,671 10 2,328,100 1 2,450,000
Sold to-date 2021 19 967,684 20 3,244,595 0 N/A
Sold 2020 47 821,713 27 2,923,148 4 2,537,500
Sold 2019 29 1,037,077 17 2,737,503 1 1,375,000
Sold 2006 27 797.532 25 2,127,352 0 N/A

Sanibel & Captiva Islands Multiple Listing Service Activity April 9 to 16, 2021

CONDOS

2 new listings: Sanibel Arms West #I8 2/2 $624K, Sanibel Surfside #115 2/2 $1.05M.

2 price changes: Sanibel Moorings #242 1/1 now $409K, Sanibel Arms West #C4 2/2 now $911K.

3 new sales: Spanish Cay #F2 1/1 listed at $325K, Blind Pass #D203 2/2 listed at $459K, Loggerhead Cay #572 2/2 listed at $719K.

12 closed sales: Sanibel Moorings #1512 2/2 $529K; Sanibel Arms West #B5 2/2 $540K; Pointe Santo #B26 2/2 $675K; Sand Pointe #217 2/2 $752.5K; Sand Pointe #113 2/2 $775K; Sand Pointe #216 2/2 $800K (our buyer); Sanibel Arms West #F1 2/2 $924,150; White Pelican #111 2/2 $1.245M; Pine Cove #202 3/2 $1.3M; By The Sea #B301 2/2 $1.595M; Cyprina Beach #2 3/3 $1.65M; Somerset #D102 3/2.5 $1.8M.

Sand Pointe pool

HOMES

3 new listings: 5423 Shearwater Dr 3/3 $1.245M, 820 Angel Wing Dr 3/2 $1.595M, 4601 Rue Belle Mer 2/2 $3.395M.

2 price changes: 3010 West Gulf Dr 3/2 now $1.299M, 940 Whelk Dr 3/2 now $1.47M.

10 new sales: 1695 Serenity Ln 3/2 listed at $649K, 958 Sand Castle Rd 3/2 listed at $714K, 4505 Bowen Bayou Rd 3/3 listed at $729K, 1117 Captains Walk St 2/2 listed at $857K, 1275 Par View Dr 3/2 listed at $1.399M, 2303 Troon Ct 3/4 listed at $1.4959M, 1200 Kittiwake Cir 4/3.5 listed at $1.5M, 742 Sand Dollar Dr 3/3 listed at $1.55M, 775 Conch Ct 4/3 listed at $1.895M, 1680 Hibiscus Dr 3/3.5 listed at $1.975M.

18 closed sales: 1835 Ardsley Way 2/2 $444K; 976 Greenwood Ct 3/2.5 half-duplex $515K; 4397 Gulf Pines Dr 3/3 $655K; 5303 Umbrella Pool Rd 3/2.5 $685K; 1965 Roseate Ln 3/2 $740K; 1052 Fish Crow Rd 3/2 $760K; 3781 Coquina Dr 3/2 $794,999; 1045 Blue Heron Dr 2/2.5 $889K; 685 Sea Oats Dr 3/2/2 $1.05M; 957 Cabbage Ct 3/3 listed at $1,062,150; 5076 Joewood Dr 3/2 $1.329M; 490 Sawgrass Pl 3/2.5 $1.41M; 1480 Middle Gulf Dr 4/4/2 $1.56M; 2479 Harbour Ln 4/3 $1.695M; 513 Lighthouse Way 3/3 $1.755M; 1283 Isabel Dr 3/2 $1.84M, 550 Lighthouse Way 4/4.5 $2.775M; 4961 Joewood Dr 4/4 $4.995M.

LOTS

No new listings or price changes.

1 new sale: 6000 White Heron Ln listed at $850K.

3 closed sales: 667 Birdie View Pt $315K, 3308 Saint Kilda Rd $430K, 3324 Saint Kilda Rd $430K.

Captiva

CONDOS

No new listings, price changes, or new sales.

3 closed sales: Bayside Villas #5118 1/2 $392.5K, Lands End Village #1637 2/2 $1.41M, Lands End Village #1634 3/3 $2.32M.

HOMES

1 new listing: 15867 Captiva Dr 7/6 $12.7M.

2 price changes: 15300 Captiva Dr 9/7 now $6.7M, 15261 Captiva Dr 4/4.5 now $11.499M.

No new sales.

3 closed sales: 11504 Wightman Ln 4/3.5 $1.475M, 16727 Captiva Dr 5/4 $1.925M, 16447 Captiva Dr 7/6/2 $2.79M.

LOTS

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