Another week has flown by with the islands again busy with more visiting families on spring break. It sure is a good thing that states and schools have vacations at different times. As it is, locals are counting down to Easter, when traffic usually eases as snowbirds start heading north. We love the extra winter business and understand why so many want to be here, but too many at once can be challenging to drivers.
Heads-up, roads and bike paths probably also will be busy next week as Lee County schools are out today and next week. With the forecast for more sunny days and temperatures in the low 80’s, those visiting should be happy!
It was nice to get a new surprise listing over the weekend. One that managed to go under contract within hours, even before we got to see it and have it photographed, as it has a rental guest. Blind Pass #D204 is the 3-bedroom condo mentioned in the Multiple Listing Service activity summary, posted after a couple of news items below. We appreciate that the Blind Pass rental office allowed us to use their photos to get the listing posted.
Another new listing was signed and posted in MLS as “coming soon”, then it became “active” today. The difference between those listing statuses is that “coming soon” listings are only available for Realtors® to see, while “active” listings are syndicated to the public and many real estate sites. It was professionally photographed early, thanks to JMA Photography. This condo, a direct bay-front Lighthouse Point 3 bedroom has showings beginning tomorrow.
A 3rd new listing also signed and posted in MLS as “coming soon” is a condo in Windjammer Village in The Landings in Ft Myers. That listing is occupied but will be available to show in April. It also has been professionally filmed, including streaming video.
With closings, it was another week with a nice one of those. Thanks to Realtor® Wendy Kirschner for bringing that buyer.
Every week, we continue to get calls and emails from prospective buyers and renters. It is frustrating when we often can’t help them. It certainly pays to have a Realtor® on the lookout though as we often hear of listings coming on the market or cancellations.
Though 1st quarter isn’t over yet, it is amazing to see what is happening with sale prices and days-on-market (DOM). Some are saying that prices are beginning to stabilize, but I’m not a believer – or not yet. As long as demand remains high and inventory low, buyers must be poised to pounce, while most sellers are smiling.
Below is an update of island inventory as of this morning, March 18, 2022, data from Sanibel & Captiva Islands Multiple Listing Service). Looking at just residential property, only 15 condos, 10 homes, and 11 lots are for sale on Sanibel. Just 8 condos and 8 homes on Captiva. With 113 closed sales and another 91 properties under contract, the sellers’ market continues.
|#||Avg $||DOM||#||Avg $||DOM||#||Avg $||DOM|
|Sold to-date 2022||37||966,863||47||52||1,710,807||78||8||762,625||184|
|#||Avg $||DOM||#||Avg $||DOM||#||Avg $||DOM|
|Sold to-date 2022||10||1,488,402||51||6||3,952,416||196||0||N/A||N/A|
Americans Moving to Sun Belt States
From the April 2022 issue of “Florida Realtor” and sourced to 2022 News World Communications, Inc.:
“Both U-Haul and United Van Lines listed Florida as a top destination state. The National Association of Realtors® (NAR) chief economist credits affordability, job creation and lower taxes for the moves.
“Job-rich, low-tax states such as those in the Sun Belt are attracting many Americans as housing prices rise, recent reports show. Zillow and U-Haul both cited Florida and Texas as hot relocation destinations in separate reports, while Unit Van Lines listed Florida and South Carolina among the top states for inbound migration…
“Meanwhile, U-Haul reported in its annual Grown Index that Texas edged out Florida for the largest net gain of one-way trucks in 2021, while California and Illinois saw the greatest net losses.
“And United Van Lines reported in its 45th annual National Movers Study that two Sun Belt states made the top five for inbound migration in 2021: South Carolina (63%) and Florida (62%) joined Vermont (74%), South Dakota (69%) and West Virginia (63%).
“States such as Illinois (67%), New York (63%), Connecticut (60%), and California (56%) appeared once again at the top of the list for outbound migration….”
Seawall Approved at Spanish Cay
It was good news to read the below article in today’s “Island Sun”. This approval has been long in coming.
“The problem of crumbling and cracked seawalls on man-made canals was under discussion at the Sanibel Planning commission meeting last week when commissioners approved replacing the seawall behind Spanish Cay condominiums on Middle Guld Drive.
“Seawalls were allowed as a special conditional use in many subdivisions bordering San Carlos Bay including Shell Harbor north and south of Periwinkle Way, Sanibel Harbour, Sanibel Isles and Water Shadows. The Sanibel Land Development Code includes standards for repairing nonconforming use seawalls on humanmade bodies of water.
“The seawall at Spanish Cay borders the manmade canal separating it from Beachview Estates. Repairs to the seawall bordering a narrow walkway required commission approval of a long form development permit.
”Complicating the matter was that removal of the seawall could not result only in loss of land bordering the water, but also cause a very high probability of undermining buildings that are 10 feet or less from the existing seawall.
“To avoid damage to structures, engineering firm Hans Wilson and Associates proposed a plan that includes replacing the seawall cap and installing a 10- to 12-foot shelf of rock riprap with a maximum 2:1 slope and consisting of limestone that is 12 to 36” in diameter.
“Two concerns addressed by the commission were rainwater downspouts from each building that discharged water directly into the canal and the limited vegetation along the seawall. The condominium association accepted a proposal to relocate the downspouts to prevent discharge into the canal or onto neighboring properties, and to install native vegetation along the path where possible…
“Native vegetation will also be planted within the riprap to provide a habitat for aquatic species to live or hide within the voids of the riprap.
“Planning commissioners voted unanimously in favor of the project.”
International Buyers Are Back
Another article in the new “Florida Realtor®” magazine says “Canada and South America are strong markets this year. Global buyers are looking for all types of properties – not just vacation homes…
“Stifled by COVID-19 the past couple of years, global buyers are finally seeing restrictions lifted and opportunities in U.S. properties.
“For decades, Florida has been a preferred U.S. market for foreign real estate buyers seeking a vacation home, primary residence or an income-generating commercial investment. But the travel restrictions imposed in spring 2020 by the COVID-19 pantenic dramatically slowed global purchases.
“Two years later, international buyers are returning to Florida, creating new business opportunities… Some of Florida’s traditional global markets are expected to see a bigger rebound than others this year. For instance, Canadian snowbirds are traveling again to Florida, and buyers from Latin American and the Caribbean are active throughout the state. On the other hand, there may be fewer buyers from China or European nations that imposed travel bans and lockdowns in late 2021 due to the omicron variant….
“According to the 2021 Profile of International Residential Transactions in Florida, Latin American/Caribbean buyers made up 46% of the global market followed by Canadians at 18% and Europe at 15%… Countries with good relations and economic ties with American are the best targets….”
Sanibel & Captiva Islands Multiple Listing Service Activity March 11-18, 2022
5 new listings: Captain’s Walk #D5 2/1 $569K, Breakers West #A4 2/2 $849K, Loggerhead Cay #201 2/2 $995K, Lighthouse Point #227 3/2 $1.395M (our listing), Island Beach Club #210C 2/2 $1.495M.
1 price change: Junonia #301 4/2 now $2.49M.
7 new sales: Sundial #I307 1/1 listed at $595K, Blind Pass #D102 2/2 listed at $685K, Breakers West #C1 2/2 listed at $799K, Blind Pass #D204 3/2 listed at $799.9K (our listing), Sanctuary Golf Villages I #5-3 2/2.5 listed at $859K, Sundial #B206 2/2 listed at $1.3M, Sedgemoor #101 3/3.5 listed at $3.995M.
5 closed sales: Sanibel Moorings #1411 1/1 $510K, Sunset South
#11C 2/2 $1.025M, Sanibel Moorings #122 2/2 $1.08M (our listing), Shell Island Beach Club #A5 2/2 $1.2M, Lantana #101 4/3.5 $2.395M.
1 new listing: 2451 Blind Pass Ct 4/4.5 $2.895M.
3 price changes: 1243 Sand Castle Rd 4/4 now $1.745M, 1543 San Carlos Bay Dr 4/4 now $2.499M, 488 Lighthouse Way 4/4 now $5.495M.
2 new sales: 1072 Blue Heron Dr 3/2 listed at $949K, 244 Palm Lake Dr 3/2 listed at $1.268M.
2 closed sales: 2276 Starfish Ln 4/3.5 $1.8M, 475 Sawgrass Pl 3/3.5 $2.1M.
No new listings, price changes, or new sales.
2 closed sales: 2486 Wulfert Rd $219K, 3304 Saint Kilda Rd $590K.
4 new listings: Tennis Villas #3128 1/1 $549K, Beach Villas #2312 1/1 $1.075M, Gulf Beach Villas #2027 3/2 $1.595M, Lands End Village #1628 3/4 $3.5M.
No price changes.
1 new sale: Bayside Villas #4210 1 /2 listed at $594.5K.
1 closed sale: Bayside Villas #5226 1/2 $625,026.
1 new listing: 1106 Tallow Tree Ct 3/3 half-duplex $4.2M.
No price changes, new sales, or 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.
Until next Friday,
Susan Andrews, aka SanibelSusan