It has been another blue sky sunshiny, sometimes cool, week on the islands – a beautiful 75 degrees F this afternoon. More of the same weather is expected in the days ahead with little, if any, rain forecast.

Traffic-wise, it continues to be slow going when day workers are coming and going. To keep Periwinkle Way flowing, late day, the City has added extra traffic-control officers at intersections.

Avoiding travel after 2 p.m. is best, as occasionally the inevitable happens, like the multi-vehicle accident in front of the Chamber of Commerce Wed night, which added to the usual weekday afternoon delays.

Probably part of the equation in skyrocketing restoration/building costs is the added cost related to these time delays.

Island Ribbon Cuttings & Openings

Two more Sanibel condos had their community ribbon-cutting events this week.

Welcoming owners and visitors back are Loggerhead Cay whose event was Mon and Sandpiper Beach on Wed.

Yesterday was a big day for The Magic Bus, ice cream and coffee shop on the East End at 362 Periwinkle Way.

They got their certificate of occupancy and have opened.

Other establishments that have reopened are extending their hours as business dictates.

It was posted today that Sanibel Café in Tahitian Gardens now is open daily for breakfast/lunch.

Reminder About Residential Rentals

Other Work Progressing

My daytime travels this week took note of a few more changes at other complexes and resorts:

New landscaping going in around the pool at Breakers West.

Roof work continues at Sandalfoot.

Roof work also continues at Sand Pointe where workers also were going in/out of units.

Sod was added to the new landscaping in front of the main entrance to Sundial.

Demolition nearly done at Surfrider Beach Club (timeshares). (I heard Caribe Beach Resort (also timeshares) may be next.)

Beach Renourishment Project

Sanibel Natural Resources Director Holly Milbrandt provided an update on the Beach Renourishment Project during Tues City Council meeting. This $14+M project is about a third done with completion expected by Apr 15. It really is amazing how much sand has already been hauled in. Here’s a link to Holly’s PowerPoint (which is terrific):

Click to access Sanibel-2023%20Beach%20Fill%20-%20Update%20City%20Council%20Feb%202024.pdf

Sanibel & Captiva Islands Real Estate News

Tuesday morning was a busy one with the Sanibel & Captiva Islands Association of Realtors® Professional Development Committee meeting at 8:30 a.m. followed by the mandatory annual training for Professional Standards Committee members from 9 until noon.

Yesterday was a midday Association Caravan Meeting at The Community House followed by 14 Open Houses, all Sanibel homes except one on Captiva. Association CEO Bill Robinson also announced that our building should be ready for re-occupancy in about five weeks.

Below, with data from the islands MLS are summary tables of the residential sales statistics, followed by the island MLS action this week. Congrats to teammate, Dave, for a condo closing today.

SANIBEL RESIDENTIAL	CONDOS			HOMES			LOTS
	#	Avg Price	DOM	#	Avg Price	DOM	#	Avg Price	DOM
For sale:	84	1,074,141	151	162	1,818,557	84	41	904,217	170
Under contract	15	941,979	80	23	1,252,126	50	3	2,130,000	183
Sold 2024 to 2/9	6	696,166	119	14	1,871,214	90	1	3,500,000	99
Sold 2023	98	955,261	65	263	1,267,390	73	24	920,645	76
Sold 2022	123	1,136,199	44	185	1,602,745	52	26	779,528	223
Sold 2021	287	875,127	113	355	1,341,881	89	69	698,862	442

 

CAPTIVA RESIDENTIAL	CONDOS			HOMES			LOTS
	#	Avg Price	DOM	#	Avg Price	DOM	#	Avg Price	DOM
For sale	29	1,481,310	130	17	7,154,882	160	3	9,998,333	110
Under contract	3	1,431,333	82	1	3,495,000	272	0	N/A	N/A
Sold 2024 to 2/9	2	747,500	85	2	4,062,500	112	0	N/A	N/A
Sold 2023	17	834,176	98	17	2,716,647	70	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

What’s Selling?

Today, the Feb/Mar issue of the islands “Real Estate Guide” was in local mailboxes. Our full-page ad continues the conversation on “how’s the market?”

This week, several clients also asked, “what’s selling?” So, I took a more in-depth look at what properties have gone under contract in 2024.

Below is a summary list by property type and location, of the new sales posted in the island MLS since January 1. Note, this does not include contracts written last year that may have closed this year, just properties that have sold (or gone under contract) in the last 40 days.

Many of the properties under contract have not yet closed, others are not yet “solid” contacts. Those that are and are just awaiting closing, are shown with their expected closing date.

Also, some properties went under contract, but had the contract canceled during the inspection/cancellation period. Those are not listed since many are back on the market. Contracts that have contingencies are so noted.

In summary, on Sanibel 17 condos, 22 homes, and three lots have gone under contract to-date this year. On Captiva, four condos and one home. Details below:

Sanibel Condos:

Gulf:

Sanibel Arms #E3 1/1 damaged, closed for $399K.

Sanibel Arms #D7 1/1 damaged, listed at $439K, contingent sale.

Island Beach Club #220A 2/2 damaged, listed at $560K, contingent sale.

Sundial West #G206 1/1 furnished, listed at $599.9K, contingent sale.

Sunset South #1A 2/2 damaged, listed at $659K, contingent sale.

Mariner Pointe #533 2/2.5 furnished, listed at $675K, contingent sale.

Sanibel Siesta #402 2/2 furnished, listed at $789.9K, contingent sale.

Sanibel Siesta #501 2/2 damaged, listed at $689K, started at $899K, contingent sale.

Sanibel Moorings #612 2/2 furnished w/bookings, closed for $810K.

Oceans Reach #3D1 2/2, damaged, listed at $839K, contingent sale.

Oceans Reach #2A2 2/2, damaged, listed at $850K, contingent sale.

Sand Pointe #116 2/2, damaged, listed at $899.9K, contingent sale.

Somerset #B102 3/3.5 damaged, listed at $1.995M, contingent sale.

West Shore #5 3/3 damaged, listed at $1.995M, contingent sale.

Tantara #302 3/3 damaged, listed at $2.1M, contingent sale.

Inland:

Ibis at The Sanctuary #B101 22 listed at $739K, contingent sale.

Heron at The Sanctuary #1-3B 2/2.5 partially furnished, closed for $1.25M.

Sanibel Homes:

Inland:

1835 Ardsley 2/2 damaged, closed for $370K.

1535 Wilton Ln 2/2 damaged, listed at $599K, closing 3/4.

1617 Sand Castle Rd 3/3 half duplex listed at $665K, community pool/tennis/golf, closing 3/8.

744 Martha’s Ln 3/2 furnished, listed at $759K, community pool/tennis, contingent sale.

1448 Albatross Rd 3/2 furnished, listed at $849K, community pool/tennis/golf, contingent sale.

9393 Peaceful Dr 3.2 w/pool, damaged, listed at $1.25M, contingent sale.

2294 Wulfert Rd 4.4 w/pool, listed at $1.799M, community pool/tennis/golf, contingent sale.

Near Beach:     5151 San-Cap Rd 2/2 damaged, listed at $399K, contingent sale.

2991 Singing Wind Dr 3/2 damaged, closed for $460K.

2066 Wild Lime Dr 2/2, listed at $699.9K, contingent sale.

4263 Gulf Pines Dr 3/2 furnished, listed at $795K, community pool/tennis,

contingent sale.

2058 Wild Lime Dr 3/2 w/pool, listed at $985K, contingent sale.

211 Southwinds Dr 3/3 furnished, listed at $1.095M, closing 4/5.

4279 Gulf Pines Dr 3/2, listed at $1.249M, community pool/tennis, contingent sale.

957 Cabbage Palm Ct 3/3 w/furnishings negotiable, community pool/tennis,

listed at $1.295M, contingent sale.

2239 Starfish Ln 3/3 furnished w/pool, community poo/tennis, listed at $1.75M,

contingent sale.

848 Birdie View Pt 4/3.5 w/pool on golf course, listed at $2.495, closing 3/11.

Canal:

1658 Sabal Palm Dr 3/2 w/pool, deepwater access, damaged, listed at $1.095M, contingent sale.

932 Whelk Dr 3/3 damaged, listed at $1.15M, continent sale,

501 Lagoon Dr 3/2 listed at $1.228M, contingent sale.

1657 Venus Dr 2/2 furnished w/pool, deepwater access. Lift non-functioning. Closed for $1.72M.

5690 Pine Tree Dr 3/2 furnished w/pool, deepwater access, listed at $2.2M, contingent sale.

Sanibel Lots

Gulf:

4717 Rue Beller Mer, listed at $3.395M, closing 2/22.

4171 West Gulf Dr, closed for $3.5M.

Near Beach:

4640 Rue Belle Mer, listed at $1.495M, contingent sale.

Captiva Condos

Bay:

Bayside Villas #4212 1/2 furnished, closed for $595K.

Marina Villas #804 2/2 furnished, closed for $900K.

Gulf:

Gulf Beach Villas #2118 2/2 furnished, listed at $999K, contingent sale.

Near Beach:

Lands End #1651 2/2 damaged, listed at $1.395M, contingent sale.

Captiva Home

Roosevelt Channel:

16321 Captiva Dr 5/4 w/pool, listed at $3.495M, contingent sale.

Sanibel & Captiva Islands Multiple Listing Service Activity Feb 2‑9

Sanibel

CONDOS

2 new listing: Mariner Pointe #842 2/2 $679K, Loggerhead Cay #181 2/2 $875K.

6 price changes: Spanish Cay #A8 2/2 now $470K, Captains Walk #B5 2/1 now $479K, Tantara #202 2/2 now $1.049M, Gulfside Place #208 2/2 now $1,295,555; West Shore #2 3/3 now $1.795M, Sanibel Sunset #102 3/2 now $1.949M.

2 new sales: Mariner Pointe #533 2/2.5 listed at $675K, Sanibel Siesta #402 2/2 listed at $789.9K.

2 closed sales: Sanibel Arms #C3 1/1 $300K (SanibelSusan Realty sale), Heron at The Sanctuary #1-3B 2/2.5 $1.25M.

HOMES

12 new listings; 657 Rabbit Rd 3/2 $779K, 923 Snowberry Ln 3/3 $1.075M, 9421 Moonlight Dr 3/2 $1.2M, 3212 Twin Lakes Ln 3/3 $1.3M, 6090 Dinkins Lake Rd 3/3.5 $1.495M, 4415 Gulf Pines Dr 3/3 $1.695M, 517 Lake Murex Cir 4/3 $1.699M, 4400 Gulf Pines Dr 4/3 $1.75M, 742 Nerita St 3/2 $1.775M, 5436 Shearwater Dr 3/3.5 $2.25M, 1500 Angel Dr 4/3.5 $3.85M, 1581 San Carlos Bay Dr 3/3.5 $4.15M.

8 price changes: 4269 Gulf Pines Dr 2/2 now $695K, 9126 Mockingbird Dr 3/2 now $899,999; 799 Casa Ybel Rd (duplex) 5/3 now $1.095M, 1410 Albatross Rd 3/3 now $1.199M, 3357 Saint Kilda Rd 3/2.5 now $1.575M, 6129 Starling Way 3/2.5 now $1.598M, 1428 Albatross Rd 3/2.5 now $1.75M, 979 Whelk Dr 3/3 now $2.199M.

7 new sales: 1535 Wilton Ln 2/2 listed at $599K, 4263 Gulf Pines Dr 3/2 listed at $795K, 2058 Wild Lijme Dr 3/2 listed at $985K, 211 Southwinds Dr 3/2 listed at $1.095M, 932 Whelk Dr 3/3 listed at $1.15M, 501 Lagoon Dr 3/2 listed at $1.228M, 2239 Starfish Ln 3/3 listed at $1.75M.

2 closed sales: 923 Snowberry Ln 3/3 $1.075M, 201 Daniel Dr 3/2.5 $1.195M.

LOTS

1 new listing: 1808 Buckthorn Ln $495K.

3 price changes: 5633 Baltusrol Ct now $449K, 1757 Windward Way now $475K, 2490 Coconut Dr now $1.475M.

No new sales.

1 closed sale: 4171 West Gulf Dr 3.5M.

Captiva

CONDOS

No new listings.

3 price changes: Gulf Beach Villas #2126 2/2 ow $1.295M, Captiva Beach Villas #E 5/4.5 now $4.495M.

No new or closed sales.

HOMES

1 new listing: 15899 Captiva Dr 3/4 $6.9M.

No price changes, new or closed sales.

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, Susan Andrews, aka SanibelSusan