It has been another week of blue skies and sunshine which definitely makes one thankful to be here, rather than amid overcast days with ice/snow. Roadways are busy with more contractor vehicles, as debris removal trucks now are picking up the remainder of what was put curbside by Mar 1 (which was the cut-off date).

Sanibel Update

There was no City progress update this week, but the big news on Tues, 2/28, five months after Hurricane Ian, was the relighting of the Sanibel Lighthouse. It was announced late Mon on social media that it would occur at 6 a.m. the next morning. Amazing how many people were there to witness and film it. Lots of videos are posted on social media. The new LED light is bright!

The next official City update will be during the upcoming City Council meeting on Tues 3/7 at BIG ARTS Performance Hall. Meeting begins at 9 a.m.

I also got a little island scoop while in line to pick-up mail yesterday. A proud guy from Island Beach Club said that they will have the first elevator to be operational since the storm. It is expected to be today, with another elevator there to follow shortly after. Like many gulf-front complexes, that complex had some serious damage, but are now seeing recovery results from adjusters, insurance, contractors, etc.

Sanibel & Captiva Islands Assoc of Realtors

The Association of Realtors© also didn’t meet this week, but there was plenty of real estate action posted it the Sanibel & Captiva Islands Multiple Listing Service. That info and the activity with our listings are after the inventory summary below.

Because what is happening at condo communities is different, our Association Multiple Listing Service (MLS) added a new resource for Realtor use. As agents get listings and receive info about what damage insurance is covering, progress schedules, changes in fees, special assessments, etc., they can be entered into this new condo database that is shared with our members.

Our MLS also added a new “yes”/”no” field regarding if a unit owner has flood insurance. In many cases these policies are assumable which helps a new buyer.

On the commercial front, following last week’s announcement that the parcel where Sandbar Restaurant site is for sale, this week the sale of the shopping center at the San-Cap end of Rabbit Road was posted. Buyer was Rosalita’s Cantina (for $6M). Their Facebook page says they opened yesterday, serving “classic Mexican dishes and more modern specialties”. Hours: Mon-Thur 11 a.m. – 8:30 p.m.; Fri & Sat 11 a.m. – 10 p.m., Sat 10 a.m. – 9:30 p.m. & Sun brunch 10 a.m. – 3 p.m.

SANIBEL	CONDOS			HOMES			LOTS
	#	Avg Price	DOM	#	Avg Price	DOM	#	Avg Price	DOM
For sale	64	1,103,093	54	114	1,689,199	48	18	1,217,277	65
Under contract	17	985,523	21	48	1,296,446	43	3	679,997	42
Sold 2023 to 3/3	24	1,062,479	37	57	1,037,031	41	5	1,118,800	123
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	1,059,142	179	7	6,699,721	198	1	15,500,000	342
Under contract	2	1,207,000	147	2	1,824,500	29	0	N/A	N/A
Sold 2023 to 3/3	1	675,000	66	4	3,612,500	58	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 Feb 24 – Mar 3

Sanibel

CONDOS

11 new listings: Seashells #38 2/2 $415K, Seashells #25 2/2 $449K, Sanibel Arms #A7 1/1 $499.5K, Sundial #D312 1/1 $529K, Sundial #D203 1/1 $649K, Sundial #J204 2/2 $1.075K, Pelican’s Roost #304 2/2 $1.199M, Loggerhead Cay #122 2/2 $1.3M, Somerset #E101 3/2.5 $1.785M, Pointe Santo #A27 3/2 $1.795M, Sundial #O406 2/2 $2.15M.

2 price changes: Tantara #202 2/2 now $979K, Pointe Santo #A25 2/2 now $1.295M.

3 new sales: Beach Road Villas #101 2/2 listed at $599,999; Gulfside Place #319 3/2 $1.495M, Atrium #106 2/2 listed at $1.749M.

3 closed sales: Sanibel Arms #B6 1/1 $320K, Sunset South #1A 2/2 $650K, Sealoft Village #105 2/2 $900K.

HOMES

10 new listings: 1198 Junonia St 2/2 $647K, 1807 Buckthorn Ln 3/2.5 $995K, 4677 Rue Bayou 3/3 $1.2495M, 1003 Fish Crow Rd 4/4 $1.6M, 913 Kings Crown Dr 4/3 $1.75M, 5721 San-Cap Rd 3/2.5.5 $1.795M, 1520 Angel Dr 4/4.5 $3.2M, 417 Bella Vista Way 4/4 $3.5M, 568 Lighthouse Way 3/3.5 $4.8M, 5071 Joewood Dr 4/5.5.5 $5.8M.

10 price changes: 1679 Serenity Ln 3/2 now $797K, 3760 West Gulf Dr 3/2 now $799K, 1145 Sabal St 5/4 now $849K, 1242 Par View Dr 3/2 now $899K, 1752 Serenity Ln 3/2 now $1M, 5410 Osprey Ct 3/2.5 now $1.175M, 1163 Kittiwake Cir 33 now $1.374M, 9484 Peaceful Dr 3/3 now $1.387M, 9027 Mockingbird Dr 4/3 now $1.395M, 682 Pyrula Ave 4/4.5 now $2.295M.

3 back on market: 1314 Tahiti Dr 3/2 $699K, 1230 Sand Castle Rd 3/2 $779K, 251 Christofer Ct 3/2.5 $1.65M.

9 new sales: 994 Greenwood Ct N 3/2 listed at $499K, 966 Greenwood Ct S 3/2.5 listed at $669K, 1073 Sand Castle Rd 3/2 listed at $699K, 591 Boulder Dr 4/2 listed at $799K, 4208 West Gulf Dr 2/2 listed at $799K, 1002 Kings Crown Dr 3/2 listed at $999K, 1290 Par View Dr 4/2 listed at $1.199M, 845 Birdie View Pt 3/3 listed at $1.895M, 850 Victoria Way 4/4 listed at $2.495M.

14 closed sales: 1413 Sandpiper Cir 2/2 $649K, 4427 Gulf Pines Dr 3/2.5 $675K, 3055 Poinciana Cir 3/2 $685K, 9106 Mockingbird Dr 3/2 $715K, 996 Greenwood Ct N 3/3 $725K, 1341 Par View Dr 3/2 $790K, 1031 Bird Watch Way 3/2 $800K, 1700 Dixie Beach Blvd 3/2 $803K, 1040 Kings Crown Dr 3/2 $824.5K, 747 Birdie View Pt 3/3 $875K, 562 Lake Murex Cir 3/2 $950K, 844 Lindgren Blvd 3/3 $1.349M, 4801 Tradewinds Dr 3/3 $1.6M, 869 Limpet Dr 5/4 $2.5M.

LOTS

2 new listings: 2356 Wulfert Rd $348K, 3649 West Gulf Dr $3.995M.

1 price change: 2807 West Gulf Dr now $1.099M.

No new sales.

1 closed sale: 2462 Wulfert Rd $320K.

Captiva

CONDOS

1 new listing: Bayside Villas #4204 1/2 $650K.

No price changes or new sales.

1 closed sale: Beach Villas #2617 1/1 $675K.

HOMES

No new listings, new or closed sales.

1 price change: 1 Sunset Captiva 2/2.5 now $3.795M.

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