Yippee, Island Temps Are Back to Mid-70’s

It’s another sunny Friday afternoon on Sanibel with more real estate activity as recovery progresses. Single-family homes continue to be where there is the most action, again with many condominium complexes still sorting out work required by their associations and what their insurance covers.

At SanibelSusan Realty

Our listings had more action this week as David and I work with owners thinking of selling and buyers looking to take advantage of more listings becoming available. It can be difficult making those who have not been back understand that the island is not going to be like it was any time soon, maybe never. Every trip around the island, it is encouraging to see more positive changes, but the amount of devastation and repairs will take years.

It makes it challenging when prospective buyers want to come and view property, but the communities are not allowing showings and/or don’t yet know what their costs will be. In most condos, but not all, unit owners are responsible from the wallboard-in, while the Association handles from the walls-out.

Reading those condo documents is an important part of the due diligence with a Florida sales contract, as is reviewing the financials. Another Sanibel condo was listed this week in MLS where the unit special assessment per unit owner (or new buyer) is $325K (yes, that says $325,000). In this situation, estimates to restore the buildings by the Association are complete and insurance settlement known. The Association will bring back the buildings and grounds, with owners/buyers then restoring their unit interiors. All of this is taking time which we know can be frustrating for owners and prospective purchasers.

On a more positive note, on my travels yesterday, it was great to see many of the big debris piles gone at the Periwinkle/Purdy collection area. Earlier in the week, I saw a neighborhood of volunteers removing debris along Causeway Rd across from the Chamber. It is great to see this cooperation.

Dave and I continue to track repairs and permits on the properties we have under contract, plus the progress at the Associations where we have listings. After a couple of news items below is the action since last Friday in the island Multiple Listing Service.

Florida Realtors® Mid-Winter Business Meetings

I missed going to Orlando this week for the Florida Realtors® Mid-Winter business meetings. I started attending those in the mid-90’s before I became our Association President and have benefitted from the connections made and lessons learned. Thanks to technology, I could follow along during the event, but it sure isn’t the same as being with those colleagues in person.

Last night was the installation of our 2023 state officers and today was the Professional Development Committee meeting.

Earlier in the week, I also missed, serving on the day-long state Audition Panel for new instructors. My friends at state headquarters understand what we are dealing with here in hurricane land, so hopefully I will be asked to serve again at the annual meeting in August. Meanwhile, congratulations to Mike McGraw our new President and Gia Arvin President-Elect.

Sanibel & Captiva Islands Association of Realtors®

Our similar, not so fancy, local association Installation and Awards Event, delayed thanks to the storm, will include a luncheon next week at Cielo. Incoming President Greg Demaras asked me to give the invocation and pledge, so that is where I will be Thursday. It will be great to see more local colleagues in person again and congratulate our new officers.

Sanibel Update

I again followed the Tuesday Sanibel Post-Ian 110-day Progress Update which was part of the City Council meeting. My full recap is posted on my personal and business Facebook pages or you can listen to the entire City Council meeting on www.MySanibel.com. A few highlights from that meeting are:

Sanibel curfew – changed to from midnight to 6 a.m.

Debris – get it to the curb by February 20.

Pool Fencing – if your pool cage was destroyed, for safety, storm fencing needs to go up.

Mail – 2 mobile units are coming to Sanibel (same location as Post Office), hopefully by end of month per latest message from Mayor Smith. One will operate as post office, other as retail. Home delivery will take longer to restart.

Food

Slowly, but surely, more restaurants are opening, most with limited hours and offerings, but progress. Here’s the latest line-up:

Sanibel: Blue Giraffe food truck (at Periwinkle Place), Cielo, Gramma Dot’s food truck, Huxter’s food truck, Island Pizza, Jerry’s Café, Mud Bugs, Sanibel Deli, Sanibel Grill, The Shack, Traders, Tutti Pazzi.

Captiva: Cantina Captiva, Captiva Island Pizza, The Green Flash, Old Captiva House.

Island Real Estate

Below is an update of island inventory today from the Sanibel & Captiva Islands Multiple Listing Service. Then is the action posted this week in the MLS.

SANIBEL CONDOS HOMES LOTS
# Avg Price DOM # Avg Price DOM # Avg Price DOM
For sale 25 1,190,016 79 93 1,458,172 48 12 677,249 86
Under contract 18 1,060,433 39 36 1,018,591 24 2 272,000 5
Sold 2023 to 1/20 2 1,540,000 27 10 1,198,900 29 3 1,635,000 103
Sold 2022 123 1,136,199 44 184 1,597,868 52 26 779,528 223
Sold 2021 287 875,127 113 355 1,341,881 89 69 698,862 442

 

CAPTIVA CONDOS HOMES LOTS
# Avg Price DOM # Avg Price DOM # Avg Price DOM
For sale 7 1,237,571 177 7 7,279,007 142 1 15,500,000 300
Under contract 1 700,000 7 5 2,139,800 8 0 N/A N/A
Sold 2023 to 1/20 0 N/A N/A 2 5,700,000 59 0 N/A N/A
Sold 2022 28 1,458,983 52 22 5,636,386 133 0 N/A N/A
Sold 2021 64 1,150,373 145 44 2,988,520 261 2 2,950,000 731

Sanibel & Captiva Islands Multiple Listing Service Activity Jan 13 – 20

Sanibel

CONDOS

4 new listings: Sunset South #3D 2/2 $749.5K, Sanctuary Golf Village #1-1 2/2.5 $1.095M. By-the-Sea #B101 3/2 $1.299M, Atrium #106 2/2 $1.749M

1 price change: Pelicans Roost #302 2/2 now $1.149M.

2 back on market: Sunset South #10B 2/2 $650K, Gulfside Place #121 2/2 $1.425M.

2 new sales: Heron at The Sanctuary I #3-B 3/2.5 listed at $995K, Sealoft Village #107 2/2 listed at $999K (our listing).

1 closed sale: Royale Tern #303 3/3.5 $2.495M.

HOMES

16 new listings: 1672 Atlanta Plaza Dr 2/1 $520K, 1754 Windlass Way 2/2 $629.9K, 1948 Roseate Ln 2/2 $635K, 671 Rabbit Rd 3/2 $699K, 3941 Coquina Dr 3/2 $850K, 440 Lighthouse Way 3/3 $899.9K, 1447 Albatross Rd 3/2 $919K, 4144 West Gulf Dr 3/2 $1.095M, 1442 Sand Castle Rd 3/2 $1.299M, 1120 Olga Ave 3/2 $1.495M, 2294 Wulfert Rd 4/4 $1.55M, 645 Donax St 4/3 $1.577M, 999 East Gulf Dr #101 3/2.5 $1.54M, 566 N Yachtsman 3/2 $1.595M, 5235 Indian Ct 4/4 $2.495M, 3699 West Gulf Dr 6/4.5.5 $5.695M.

10 price changes: 214 Hurricane Ln 3/2 now $659K; 1314 Tahiti Dr 3/2 now $749K; 214 Palm Lake Dr 3/2.5 now $849K; 1031 Bird Watch Way 3/2 now $875K; 3060 West Gulf Dr 3/2 now $899K; 1986 Wild Lime Dr 3/2 now $899K; 4775 Rue Helene 4/3 now $1.125M; 1027 Kings Crown Dr 4/3 now $1,495,555; 664 Gopher Walk Way 4/3.5 now $1.699M; 851 Angel Wing Dr 5/4 now $1.795M.

1 back on market: 4208 West Gulf Dr 2/2 $849K.

7 new sales: 4733 Rue Belle Mr 3/3 listed at $895K, 4747 Rue Belle Mer 4/4 listed at $950K, 775 Pen Shell Dr 3/2 listed at $999K, 557 East Rocks Dr 4/3 listed at $999.9K, 241 Violet Dr 3/2.5 listed at $1.295M, 1008 Demere Ln 3/2 listed at $1.395M, 869 Limpet Dr 5/4 listed at $2.875M.

6 closed sales: 3008 Singing Wind Dr 2/2 $450K, 2499 Harbour Ln 3/3 $1.35M, 954 Whelk Dr 3/3 $1.5M, 791 Limpet Dr 4/4.5 $1.75M, 1543 San Carlos Bay Dr 4/4 $1.;76M, 1152 Golden Olive Ct 4/2 $1.85M

LOTS

1 new listing: 845 Pyrula Ave $650K.

No price changes or new sales.

1 closed sale: 2998 Singing Wind Cir $300K.

Captiva

CONDOS

Nothing to report.

HOMES

1 new listing:11516 Wightman Ln 5/4.5 $3.999M.

No price changes or new sales.

1 closed sale: 11523 Andy Rosse Ln 5/5.5 $4.45M.

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