Susan here, reporting another great week on the islands. Traffic is heavy as it typically is mid-February, so patience is required as we share the roadways with the many visitors here enjoying the sunshine. Midweek temperatures jumped back up into the high 70’s/low 80’s, making for happy locals, snowbirds, and vacationers.
Sanibel’s City Town Hall meeting on Tuesday night at The Community House was well attended both in-person and virtually. It was a great way for the new City Manager and new City Council members to hear first-hand about issues important to their constituents. The future of the shared-use paths, activities for seniors/Center-4-Life, and traffic were some of the topics mentioned more than once.
It is expected to be slow going here this weekend with additional holiday traffic plus the Sanibel-Captiva Rotary Club 39th Annual Arts & Crafts Festival at The Community House. That event features 85 different artists and includes art booths outside and silent auction inside. It is open tomorrow from 10 a.m. to 5 p.m. and Sunday from 9 a.m. to 4 p.m.
Local Real Estate News
At SanibelSusan Realty, we continue to write/field offers, were happy to have another listing close, and look forward to more inventory so that we may meet the demands of the many prospective buyers waiting in the wings.
Our printer advises that the inventory booklets for our big annual mailing are on their way to us. With a hot fast-moving market, it sure is hard to keep that list up to date. The bulk mail should go out the end of next week and we sure hope that it generates more listings.
At the Association of Realtors® Caravan meeting yesterday, there were no new listings announced, nor price reductions, but there were a couple of new listings open for viewing. I visited a home that had just came on the market. It was no surprise to see it visited by many Realtors®, neighbors, and purchasers. The term “feeding frenzy” fit.
As of this afternoon, according to the islands Multiple Listing Service, Sanibel residential inventory includes just 14 condos, 17 homes, and 14 lots, while Captiva has three condos and eight homes for sale.
A Changing Pattern of Migration Trends
From the March 2022 “FloridaRealtor®” magazine: “For decades, Florida has been a favored destination for U.S. and international buyers seeking vacation homes or primary residences. The COVID-19 pandemic shifted some, but not all, of those inbound migration trends.
“”Despite a lot of predictions, COVID didn’t change the underlying U.S. migration flows that were in place before the pandemic,” says Sean Snaith, Ph.D., director of the University of Central Florida’s Institute for Economic Forecasting in Orlando. “New York and New Jersey continue to be the big feeder markets for South Florida, while the Gulf Coast and Central Florida attract buyers from the Midwest states.”
“Snaith added that people who move to Florida from the Rust Belt states, or the Northeast are looking for a change in the weather as well as the tax climate. “Other high-tax states, like California and Illinois, are potentially good feeder markets for Florida’s real estate professionals,” he says.
“While inbound U.S. migration is up, COVID-19-related travel restrictions have shut down the flow of buyers from Canada, Europe, and Latin America – the state’s three primary international feeder markets.
“”South Florida is getting fewer buyers form the Caribbean, Central and South America,” says Ken H. Johnson, Ph.D., a real estate economist at Florida Atlantic University’s College of Business in Boca Raton. “But COVID isn’t the only reason. Many of the South American economies – except for Venezuela – are doing relatively well this year, and that reduces the motivation to buy in the U.S.”
“On the domestic side, Johnson says Florida’s indoor-outdoor lifestyle and work-from-home convenience has helped widen the range of feeder markets beyond the Northeast and Midwest. Now, buyers are coming from Western states like California, Oregon and Washington, as well as nearby states in the Southeast. The Panhandle markets, for instance, appeal to second-home buyers in Georgia, Tennessee, Alabama, and Mississippi.
“Drawing on FAU’s proprietary research, Johnson said population growth in the Orlando, Fort Myers and Lakeland metropolitan areas is likely to exceed 20% in the next 10 years, surpassing Miami, Tampa-St. Petersburg, Jacksonville, Palm Beach County and Tallahassee. While much of that growth will come from U.S. states, Johnson expects international migration to pick up as well. “We expect an influx of buyers from Canada and Europe in the next few years,” he says. “That will spark growth in Orlando as well as the state’s coastal markets.”
President’s Day at J.N. “Ding” Darling
FYI, admission to Wildlife Dr will be fee-free on Monday, Feb 21, in honor of President’s Day. As a federal holiday, the administrative offices and Visitor & Education Center, including the Refuge Nature Store, will be closed, however, the restrooms will remain open during Wildlife Dr hours, 7 a.m. to 5:30 p.m. Tarpon Bay Explorers also is open for business that day from 8 a.m. to 5 p.m.
Snowy Plover Nesting Season
Posted this week by SCCF: “February 15th marks the official start of snowy plover nesting season in the state of Florida however our Sanibel plovers have not checked their calendars and were resting in a small group by the lighthouse this morning rather than pairing up to establish nesting territories. Typically, on Sanibel, the first nests are located in late March or early April. If you want to learn more about how you can help protect our beach nesting birds click here: https://sancaplifesavers.org/shorebirds/
Sanibel & Captiva Islands Multiple Listing Service Activity February 11-18, 2022
3 new listings: Tennisplace #D33 1/1 $425K, Shell Island Beach Club #5C 2/2 $1.279M, Pelicans Roost #206 2/2 $1.299M.
No price changes.
1 new sale: Captains Walk #C5 2/1 listed at $549K.
2 closed sales: Sealoft Village #109 2/2 $830K (our listing), Sanibel Moorings #1332 2/2 $875K.
5 new listings: 3716 Coquina Dr 3/2 $1.395M, 824 Birdie View Pt 3/3 $1.725M, 2885 Wulfert Rd 6/5.5 $2.395M, 660 Anchor Dr 6/4 $2.995M, 4630 Rue Bayou 4/4.5 $2.995M.
1 price change: 5802 Sanibel-Captiva Rd 3/3.5 now $1.445M.
3 new sales: 5289 Ladyfinger Lake Rd 3/2 listed at $850K, 320 Palm Lake Dr 2/2 listed at $925K, 1405 Causey Ct 3/2 listed at $1.495M.
3 closed sales: 4636 Bowen Bayou Rd 3/2 $1.725M, 719 Periwinkle Way 4/3 $1.75M, 1146 Golden Olive Ct 5/4 $2.9M.
No new listings, price changes, or new sales.
1 closed sale: 638 Lake Murex Cir $565K.
No new listings or price changes.
3 new sales: Bayside Villas #5128 1/2 listed at $589K, Bayside Villas #5226 1/2 listed at $625K, Beach Homes #20 3/3 listed at $4.349M.
1 closed sale: Bayside Villas #5342 3/3 listed at $969K.
2 new listings: 16813 Captiva Dr 3/3 $3.495M, 11517 Andy Rosse Ln 4/4.5 $5.25M.
No price changes.
1 new sale: 16611 Captiva Dr 6/6 listed at $7.495M.
No closed sales.
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”.
Enjoy your long weekend!
We’ll be open Monday!
Susan Andrews, aka SanibelSusan