It is Susan with another Friday update. Teammates often think I report too much about weather and traffic. In my defense, that is easy to do in the winter when the island is packed with visitors because the weather is so much better here than in some chilly areas. This week, I am changing things up. There will be no confirmation that since it still is high “season”, island weather is wonderful and traffic heavy.
Below are a couple of news items, followed by the first quarter sales statistics for both islands, then the action since last Friday posted in the Sanibel & Captiva Islands Multiple Listing Service. Supply and demand, like always, continue to control the market.
First a couple of photos from the spring flower explosion at my house. The gardenia bushes are popping and smell wonderful, while the bougainvillea and beach roses always make me smile. I hope you enjoy them too! Sorry I can’t include the aroma.
Island Ecology for New Residents
The Sanibel-Captiva Conservation Foundation is offering their last “welcome walkabout” for this season on Wednesday, April 13 at 10 a.m. If you are a new property owner on the islands – or would simply like to learn about what makes the islands special, join this walking tour to learn about the unique plants and animals, the islands’ steeped conservation history, and current challenges in keeping the islands a sanctuary. Register here; a $5 donation is suggested.
Prices Tripled in 13 U.S. Cities Since 2000 – Two in Florida
Posted Wednesday, April 6, online at FloridaRealtors®, the below article is sourced to Alix Martichoux, WCBD, Nexstar Broadcasting, Inc.
“In two Fla. cities, Miami and Tampa, prices rose more than 200% in a little over 20 years – No. 8 and No. 9 in the U.S. for price increase percentages.
“SAN FRANCISCO – The cost of housing – much like everything else – has gone way up over the past year. Low inventory and low interest rates have thrust the median price of a home in the U.S. up by nearly 20% in a single year.
“But the latest jump is just an acceleration of what’s been happening for 20 years. Most major cities have seen home prices increase substantially since 2000, with many seeing home values double or even triple.
“In some cities, the typical home value has more than tripled. San Francisco, for example, had a typical home value of $356,800 in 2000, according to data analyzed by real estate brokerage Clever; in 2022, the typical home value is nearly $1.4 million – a 290% increase, or nearly quadruple the value 22 years ago.
“San Francisco is often held up as the most extreme example of a housing market gone wild, but it’s not the only city where home values rose astronomically, even with falling home prices during the Great Recession around 2010.
“Clever analyzed the median sale price of homes in the 50 largest metro areas around the country and found 13 cities saw home values more than triple since 2000. The 13 cities where home values have gone up by more than 200% – i.e. tripled – since 2000 are:
- San Francisco (290% increase)
- Los Angeles (280% increase)
- Riverside, Calif. (278% increase)
- San Diego (275% increase)
- San Jose, Calif. (261% increase)
- Sacramento, Calif. (237% increase)
- Seattle (235% increase)
- Tampa, Fla. (223% increase)
- Miami(220% increase)
- Austin, Texas (209% increase)
- Portland, Ore. (207% increase)
- Phoenix (206% increase)
- Denver (204% increase)
“Several cities saw slower growth in home values, according to Clever:
- Cleveland (60% increase)
- Detroit (62% increase)
- Memphis, Tenn. (72% increase)
- Chicago (73% increase)
- Hartford, Conn. (87% increase)
- Cincinnati (88% increase)
- Birmingham, Ala. (90% increase)
- Louis (98% increase)
“Over the same time period, the national average increased 156% – or roughly 2.5 times – from $127,215 to $325,677, according to Clever’s full report.”
Sanibel & Captiva Home Price Increases
If you are wondering what home values have done on Sanibel and Captiva Islands during the same period, in 2000, the average Sanibel home sale price was $650,868. Today the average home sale price is $1,715,784, an increase of 164%. On Captiva, in 2000, the average home sale price was $2,134,459. Today, it is $3,678,750, an increase of 72%.
For condos, Sanibel average sale price in 2000 was $555,689. Today, it is $1,000,078, an increase of 80%. On Captiva, average condo sale price in 2000 was $644,113. Today, it is $1,413,323, an increase of 119%.
See more details below (info from Sanibel & Captiva Islands Multiple Listing Service on 4/8/2022).
|#||Avg $||DOM||#||Avg $||DOM||#||Avg $||DOM|
|Sold to-date 2022||53||1,000,078||45||72||1,715,784||67||11||656,909||206|
|#||Avg $||DOM||#||Avg $||DOM||#||Avg $||DOM|
|Sold to-date 2022||14||1,413,323||46||10||3,678,750||148||0||N/A||N/A|
Sanibel & Captiva Islands Association of Realtor Thursday Caravan Meeting
There was light turnout again yesterday at the Association of Realtors® weekly caravan meeting. Two new listings were signed up for caravan viewing, but one was canceled because it already went under contract.
Just one new sale was announced, no new listings, no price reductions, but plenty of Realtors® with buyers looking to purchase.
Sanibel & Captiva Islands Multiple Listing Service Activity April 1-8, 2022
4 new listings: Loggerhead Cay #271 2/2 $925K, Gulf Beach #107 2/2 $1.049M, Pointe Santo #D44 2/2 $1.399M, White Pelican #124 2/2 $1.849M.
1 price change: Pointe Santo #D41 2/2 now $1.429M.
3 new sales: Sanibel Moorings #1042 2/2 listed at $869K, Sandalfoot #5A2 2/2 listed at $1.175M, Pine Cove #201 3/2 listed at $1.899M.
4 closed sales: Mariner Pointe #323 2/2.5 $649K, Breakers West #C1 2/2 $850K, Compass Point #162 2/2 $1.85M, Cyprina Beach #7 3/3 $1.927M.
1 new listing: 1012/1014 East Gulf Dr 4/2 duplex $1.179M.
3 price changes: 1560 Royal Poinciana Dr 3/2 now $1.499M, 746 Windlass Way 4/3 now $2.275M, 2885 Wulfert Rd 6/5.5 now $2.295M.
4 new sales: 3822 Coquina Dr 4/3.5 listed at $1.595M, 733 Durion Ct 3/2 listed $1.695M, 788 Birdie View Pt 3/3 listed at $1.995M, 2915 Wulfert Rd 5/5.5 listed at $3.495M.
5 closed sales: 1398 Jamaica Dr 2/2 $850K, 1053 Seahawk Ln 3/2 $1.325M, 1405 Causey Ct 3/2 $1.5M, 500 Kinzie Island Ct 3/3 $2.295M, 2444 Harbour Ln 4/3.5 $2.711M.
No new listings.
2 price changes: 5642 Baltusrol Ct now $379K, 5648 Baltusrol Ct now $379K.
1 new sale: 2348 Wulfert Rd listed at $329K.
No closed sales.
No new listings or price changes.
1 new sale: Lands End #1610 3/3 listed at $3.7M.
1 closed sale: Beach Villas #2633 2/2 $1.399M.
HOMES & 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.
Enjoy your weekend. I’ll be back next Friday,
Susan Andrews, aka SanibelSusan