Summer Solstice & Fathers’ Day on Sanibel & Captiva 2021

This week, the first day of summer is almost here and the rainy season also finally is underway in SW Florida. With cloudy days and occasional showers on the islands since Monday, the forecast for next week is much the same, with afternoon thunderstorms expected, typical weather for this time of the year.

Summer solstice is the day of the year with the most hours of sunshine. This year, in the northern hemisphere, that day coincides with Fathers Day, on Sunday. Hopefully there will be some sunshine amid the raindrops. In the meantime, it’s great to see tropical vegetation greening up again. The Sanibel bunnies are loving it too. The baby one in my yard this morning is soo tiny, only a few inches long.

The islands remain busy with visitors, including more first-timers than usual for this time of the year. Lots of pent-up demand for vacations has resulted in few, if any vacancies, now, with full occupancy expected right throughout the July 4th holiday. With Lee County Schools also finishing up this week, a busy summer is expected.

Real-estate wise, there have been a few new listings and sales, while overall inventory remains very low. The SanibelSusan Team is thankful for our new listing at Gulfside Place, it is one of just two waterside units like it within the community. It offers the convenience of condo living with a 180-degree gulf view and privacy of a home, with private stairs from balcony to beach, plus easy-care coastal-vibe tile floors throughout (those allowed only on 1st level).

Below is an update of Sanibel and Captiva inventory today, while the week’s details follow a couple of news items below.

SANIBEL

CAPTIVA

Condos

Homes

Lots

Condos

Homes

Lots

#

$ Price

#

$ Price

#

$ Price

#

$ Price

#

$ Price

#

$ Price

Available for Sale

21

862,895

31

2,289,612

16

533,542

8

1,626,000

11

6,239,363

0

N/A

Under Contract

28

818,135

58

1,402,381

13

1,103,873

6

1,443,900

5

2,307,800

1

4,250,000

Closed 1/1-6/18/21

167

857,630

205

1,302,007

50

646,710

34

1,002,397

31

2,898,561

1

2,000,000

Closed in 2020

192

733,876

290

954,718

23

606,233

47

821,713

27

2.923,148

4

2,537,500

Closed in 2019

127

694,392

211

1,112,748

15

372,200

29

1.037,077

17

2,737,503

1

1,375,000

Note: Prices in italics are average asking prices (properties available & under contract)

Great News from SCCF

Sanibel-Captiva Conservation Foundation recently acquired three off-island properties on McGregor Blvd near the causeway. They are of critical environmental importance, totaling more than 25 acres, all containing mangrove forest with/or adjacent to tidal waterways. This habitat including mudflats and salt flats is important to many shore birds, diamondback terrapins, endangered sawfish, and many invertebrate species.

SCCF also reports that sea turtle nesting season is at its peak with staff and volunteers monitoring 388 nests (85 on Captiva, 303 on Sanibel). In preparation for the upcoming Captiva beach renourishment project, SCCF has relocated 14 nests that could be affected. For more info on protecting and caring for sea turtles, visit SanCapLifeSavers.org.

Sanibel Leaf Blower Legislation

News from the “Ding” Darling Wildlife Society recently posted: “Kudos to the Sanibel City Council for passing a new ordinance that restricts current use of gas-powered leaf blowers and ultimately bans them by January 1, 2023…”

Fed Accelerates Plans to Raise Interest Rates – But Not Yet

Posted yesterday on “FloridaRealtors”: “Low rates directly keep adjustable-rate loans low and help, indirectly, fixed-rate loans. At one time, the Fed had no rate-hike plans until 2024; now it’s two in 2023.

“WASHINGTON – With the economy and inflation set to surge this year as the nation emerges from the COVID-19 recession, the Federal Reserve is starting to ease back from pandemic era policies aimed at jolting growth. Citing an upgraded economic outlook and a spike in inflation, the Fed on Wednesday held its key interest rate near zero and vowed to maintain its bond buying stimulus, but it’s now forecasting two rate hikes in 2023, up from none previously.

“Fed officials foresee its benchmark short-term rate at a range of 0.5% to 0.75% in 2023, according to their median estimate. While most of the officials said they want to hold the rate near zero through next year, only five foresee rates at that level in 2023. Two prefer one rate increase in 2023, while three envision two hikes and eight foresee an even higher rate by then.

“Fed officials “are more comfortable that (the economic conditions for raising rates) will be met somewhat sooner than previously anticipated,” Fed Chair Jerome Powell said at a news conference. “We’re going to be in a strong labor market pretty quickly here.”

“Progress on vaccinations will likely continue to reduce the effects of the public health crisis on the economy, but risks to the economic outlook remain,” the Fed said in a statement after a two-day meeting. Yet Powell noted Fed officials’ rate forecasts are merely estimates, adding that “liftoff is well into the future.” In its statement, the Fed reiterated it would keep its benchmark short-term rate near zero until the economy returns to full employment and inflation has risen above its 2% target “for some time.”

“Powell said the Fed’s focus in the short term is on when to begin tapering its bond purchases. The central bank repeated that it would continue to purchase $120 billion a month in Treasury bonds and mortgage-backed securities to hold down long-term rates “until substantial further progress has been made toward” the Fed’s employment and inflation goals. Powell said the Fed discussed reducing the purchases this week and would provide more guidance “at a future meeting.”

Sanibel & Captiva Islands Multiple Listing Service Activity June 11-18, 2021

Sanibel

CONDOS

3 new listings: Sanibel Inn #3513 2/2 $699K, Island Beach Club #310A 2/2 $799K, Gulfside Place #115 2/2 $1.995M (our listing).

4 price changes: Mariner Pointe #712 2/2.5 now $659K; Mariner Pointe #231 2/2 now $674.9K; Breakers West #A5 2/2 now $749K; Sanibel Arms West #D2 2/2 now $919,999.

2 new sales: Coquina Beach #2B 2/2 listed at $595K, Sanibel Inn #3511 2/2 listed at $695K.

7 closed sales: Sanibel Arms #A1 2/2 $560K, Loggerhead Cay #351 2/2 $585K, Loggerhead Cay #261 2/2 $695K, Sunset South #11D 2/2 $740K, Oceans Reach #2D1 2/2 $890K, Sanibel Surfside #123 2/2 $905K, Pointe Santo #A47 3/2 $2.413M.

HOMES

7 new listings: 565 East Rocks Dr 3/2 $749K, 9431 Moonlight Dr 3/2 $899K, 540 East Rocks Dr 3/2 $1.025M, 1206 Par View Dr 3/2 $1.249M, 547 N. Yachtsman Dr 4/3 $1.399M, 852 Birdie View Pt 4/3 $1.699M, 1305 Par View Dr 3/4 $1.749M.

2 price changes: 1376 Jamaica Dr 2/2 now $710K, 1187 Sand Castle Rd 3/2 now $1.199M.

4 new sales: 1826 Farm Trl 3/2 listed at $849K, 5100 Sea Bell Rd 4/2.5 listed at $949K, 1450 Sand Castle Rd 3/2 listed at $1.199M, 1206 Par View Dr 3/2 listed at $1.249M.

9 closed sales: 966 Fitzhugh St 2/1 $610K, 3009 Singing Wind Dr 2/1.5 $657K, 1644 Bunting Ln 3/3 $665K, 5186 Sea Bell Rd 3/3 $1.015M, 940 Whelk Dr 3/2 $1.425M, 820 Angel Wing Dr 3/2 $1.46M, 837 Sand Dollar Dr 3/3.5 $1.75M, 2857 Wulfert Rd 4/5 $1.78M, 1253 Anhinga Ln 4/4 $3.7M.

LOTS

No new listings or price changes.

1 new sale: 2431 Shop Rd listed at $249.9K.

No closed sales..

Captiva

CONDOS

1 new listing: Tennis Villas #3120 1/1 $419K.

No price changes or new sales

1 closed sale: Beach Villas #2514 2/2 $820K.

HOMES

No new listings or price changes.

1 new sale: 11540 Laika Ln 2/2.5 listed at $1.525M

No closed sales.

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.

until next Friday, Susan Andrews, aka SanibelSusan