As we pass the six-month anniversary of Hurricane Ian, sunny weather with temperatures in the mid-80’s continues. It is encouraging to see more recovery progress on the islands including the following updates this week:

Sanibel Home Mail Delivery – Yay! Mail delivery began on Monday to properties with mailboxes. It has been great to get mine at my home. It will be even better when I can move back home. It should only be weeks away now. The temporary post office quarters remain for pickup of post office box mail, commercial, and stamp sales, etc. The blue mailbox there is available for outgoing mail.

More Structures Coming Down – Wednesday driving by West Wind Inn, I saw their west-most buildings coming down, including former sites of Normandie Seaside Café, the pool bar, & many hotel rooms. More came down yesterday, continuing into today. (Yes, they are rebuilding, or so I heard.)

“Saltwater Kill” Tree Removal Underway – Some have questioned why many trees are coming down along streets within City public rights-of-way. These trees have been marked with spray paint following inspection by a certified arborist working with the City’s debris contractor. Their removed is as part of the post-hurricane “Saltwater Kill Tree Survey & Remediation Plan” which is described on the City website as a plan being implemented to address impacts that occurred due to saltwater inundation from Hurricane Ian. Marked are the trees that have become or have the potential to become hazardous within the public rights-of-way.

Signs of Rebuilding – Here and there where structures have come down, signs are going up indicating what is to be built in that location. This week, I noticed quite a few showing modular homes. Also, a sign went up in front of the now demolished “Island Cow” restaurant showing what the new building will look like.

Millennials Now Driving Luxury Market

From April 2023 “Florida Realtor” magazine: “Millennials are now driving the U.S. luxury homebuying market, a significant shift from the baby boomers, according to a recent trend report by Engel & Volkers. One key finding was that second home buyers are most likely to be married millennials or Gen Xers with children living in the household. Nearly all want this residence to be convenient for recreational activities and home amenities, including pools, gyms and spas.

“Nearly 60% of consumers looking to purchase a home above $3M were millennials, including work-from-anywhere professionals and executives. For first-time millennial and Gen Z buyers making more than $100,000 in yearly household income, neighborhood vibe, walkability and proximity to both restaurants and work were key factors in choosing a home.

”Baby boomers will continue to have a lasting effect on our economy, empowering millennials with financial means to largely drive the buy side of the real estate market in the years to come,” said Anthony Hitt, president and CEO, Engel Volkers Americas. “For real estate professionals serving the luxury segment, it’s important to understand and adapt to the evolving preferences of new generations who are taking up more space in the market.”

At SanibelSusan Realty

Still waiting for construction to begin at our office, but roof work continues at The Bean, plus clean-up where the two off-the-foundation buildings came down behind and next to our office.

Dave and I continue our daily work on the island. I showed property several times this past week (canal-front homes), fielded inquiries from buyers up north, followed up on action items with sales in the pipeline, and sent a variety of emails to prospective purchasers that should be buying now. Dave performed our weekly listing checks this morning, while Lisa continues with her weekly updates to our inventory reports (which always are in great demand).

If you are on island this coming Tuesday, April 4, be sure to come to BIG ARTS Performance Hall for the 6:30 p.m. concert featuring the Sanibel School choir, their Seahorse Chorale, plus the BIG ARTS Community Chorus singers. It’s free! Will be about an hour. With songs by each group individually plus four together, it’s bound to be fun. (I sure hope this old alto can keep up. The youngest of those kiddos is seven, while the eldest of our singers is 94.)

Sanibel & Captiva Islands Real Estate

The action posted since last Friday in the Sanibel & Captiva Islands Multiple Listing Service is after the inventory summary below.

The title companies report they have many closings today (last day of the 1^st quarter) so next week once those sales are reported in MLS, my update will include a summary compared to last year. (Those prospects sitting on the fence waiting for more price reductions probably can keep wishing. Though there are plenty of price adjustments posted each week, that’s indicative of a strong market. There also are many sales reported. When there are more sales than new listings, the market turns. As the numbers will show, sales year-to-date are way ahead of last year at this time. Are prices adjusted for properties needing reconstruction? Sure, but Sanibel remains strong.)

Continuing also with an update on commercial offerings, the price of the site of the former Sandbar Restaurant (now demolished) at 2761 West Gulf Dr was reduced this week to $2.095M. Two commercial properties also came on the market. They may be purchased separately or together. 1544 Periwinkle Way for $1.695M and 905 Fitzhugh St for $1.295M, together for $2.8M (formerly Sanibel Seashell Industries, SeaShells.com).

Sanibel & Captiva Islands Multiple Listing Service Activity March 24-31

Sanibel

CONDOS

6 new listings: Sundial #I105 1/1 $374.9K, Seashells #40 2/2 $449K, Sundial #I104 1/1 $519K, Sundial I207 1/1 $599K, Sundial #G206 1/1 $599.9K, Sundial #I202 1/1 $615K.

2 price changes: Island Beach Club #220F 2/2 now $759K, Mariner Pointe #711 3/2 now $795K.

5 new sales: Seashells #38 2/2 listed at $415K, Seashells #20 2/2 listed at $469K, Loggerhead Cay #412 2/2 listed at $749K, Kings Crown #208 2/2 listed at $870K, Sanibel Surfside #122 2/2 listed at $995K.

5 closed sales: Sanibel Arms #B7 1/1 $280K, Sundial #H209 1/1 $615K, Mariner Pointe #642 2/2 $750K, Sanctuary Golf Villages I #4-1 3/3 $1.225M, Atrium #106 2/2 $1.605M.

HOMES

4 back on market: 1937 Roseate Ln 2/2 $537,555; 1520 Angel Dr 3/2 $1.222M, 915 Pecten Ct 5/5 $2.595M, 4697 Rue Belle Mer 4/6 $3.8M.

11 new sales: 470 Birdsong Pl 2/2 listed at $550K, 3301 Twin Lakes Ln 2/2 listed at $649M, 465 Lake Murex Cir 2/2.5 listed at $725K, 1679 Serenity Ln 3/2 listed at $749K, 4677 Rue Bayou 3/3 listed at $1.2495M, 4797 Rue Helene 3/2 listed at $1.35M, 918 Kings Crown Dr 3/2.5 listed at $1.449M, 1224 Buttonwood Ln 3/2.5 listed at $1.45M, 1520 Angel Dr 4/4.5 listed at $3.2M, 4449 Waters Edge Ln 3/3 listed at $3.499M, 4697 Rue Belle Mer 4/5.5 listed at $3.8M.

6 closed sales: 1140 Sandpiper Cir 3/2.5 $625K, 42208 West Gulf Dr 2/2 $725K, 3711 Agate Ct 3/2.5 $800K, 1140 Junonia St 3/2 $999K, 1290 Par View Dr 4/2 $1M, 645 Donax St 4/3 $1.52M.

LOTS

No new listings.

2 price changes: 2807 West Gulf Dr now $1.199M, 2761 West Gulf Dr now $2.095M.

1 new sale: 9268 Belding Dr listed at $435K.

1 closed sale: 328 Palm Lake Dr $630K.

Captiva

CONDOS

3 new listings: Bayside Villas #5208 1/2 $615K, Bayside Villas #5232 1/2 $655K, Marine Villas #906 2/2 $1.2M.

No price changes or new sales.

1 closed sale: Beach Villas #2235 4/3 $1.8M.

HOMES

No new listings or price changes:

1 new sale: 11530 Chapin Ln 3/2 listed at $2.395M.

1 closed sale: 11460 Old Lodge Ln 4/3 $2.399M.

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