More Rebuilding, Reopening, Restoration on Sanibel Island

Following another week of nice winter island weather (mostly sunny with mid-70-degree F days), the forecast shows a high chance of rain beginning late tomorrow and into Sunday. A couple of cooler days may follow, but it likely will be back into the 70’s soon.

With the 3-day Presidents weekend, it would be nice to have good weather for visitors. Island restaurants and shops are ready for more business. Maybe rain will bring them customers.

Re-Building, Re-Openings, Restoration

Cheeburger Cheeburger – A social media post says this restaurant in Tahitian Gardens is expected to reopen in nearly April under new ownership,

National Shell Museum – The new sign is up at the Bailey-Matthews National Shell Museum & Aquarium. Rumor has it that their reopening will be announced soon.

Sanibel Marina – Gramma Dot’s at the Sanibel Marina at 634 N Yachtsman Dr recently reopened, It has been under new ownership since early January by Acme Marine Co. The prior owner had a food truck there for about nine months following the hurricane. The restaurant itself had a soft opening on Dec 13 and now is fully open. Operating for over three decades, their recipes remain the same, and they are open daily from 11:30 a.m. to 8 p.m. At Gramma Dot’s recent ribbon-cutting, two other businesses also opened at the Sanibel Marina: Adventures in Paradise (AIP) tours and Moke and Cabana Club rentals. Since 1986, AIP has run tours out of Port Sanibel Marina (off island). Following the hurricane, they rescued hundreds from the islands and transported many first responders. From the marina, Adventures in Paradise is offering morning, afternoon, and sunset dolphin and wildlife cruises, and a shelling beach and lunch cruise to Cabbage Key, plus private and holiday cruises. Moke and Cabana Club opened before Ian in 2022 and worked on a delivery basis after the storm. It now partners with the marina for office space, where it rents electric vehicles known as Mokes, golf carts, beach cabanas and chairs, and electric surfboards.

Signal Inn – Though the office and grounds are still a work in progress and the pool isn’t expected to be done until mid-March, Signal Inn just announced that they are accepting reservations for stays beginning in April. Signal Inn has 19 units and is one Sanibel’s few pet-friendly weekly rental condos (up to two dogs or cats allowed).

White Caps – News this week is that the nine little cottages at 2877 West Gulf Dr that the hurricane destroyed are being rebuilt and will be put on pilings. Once the site is ready, the new cottages will be delivered and elevated. Then, stairways and a small porch will be added to each one, exteriors painted, and interiors finished. This condo community originally had eight small 1-bedroom units and a single 3-bedroom. The rendering looks like they will be duplex-style.

The Future of Florida Real Estate

Looking at the state overall, Florida home values have increased about 80% over the past five years. Analysts that watch that market have weighed in on how rising interest rates have affected sales but agree that the Florida housing market is strong and a positive trend is expected for at least the next five years.

For sellers, this is good news, implying that property values are rising. Whether the country enters a recession, or not, the housing market appears to be in good shape in Florida for the foreseeable future. It’s a good time for real estate investors to capitalize on market possibilities.

Sanibel & Captiva Islands Real Estate News

There was no meeting this week for the local island Association of Realtors®, but next Thursday at 11:30 a.m. is our monthly Membership Meeting which again will be at The Community House. A caravan of open houses will follow the meeting, until about 3 p.m.

Though the SanibelSusan Team has been showing property and talking with prospective purchasers, as we chat with island colleagues, the overall feeling is much the same – inventory has increased, but not many are buying. This is resulting in price reductions and that may continue until sales pick up.

Illustrating that below, with data from the islands MLS, are summary tables of the island residential sales statistics, followed by scoop about our listings, and the MLS action reported this week.

On the commercial side, another property was listed this week: 1025 Periwinkle Way (formerly Norris Furniture) $1.3M.

Sanibel & Captiva Islands Multiple Listing Service Activity Feb 9‑16

Sanibel

CONDOS

3 new listing: Tennisplace #C34 2/1.5 $574,999; Sunset South #9B 2/2 $599.9K, Heron at The Sanctuary #1-1A 3/2.5 $1.15M.

3 price changes: Sundial #D309 1/1 now $449K, Gulfside Place #204 2/2 now $1.25M, Gulfside Place #208 2/2 now $1,25M.

2 back-on-market: Sanibel Arms 1/1 $439K, Island Beach Club #220A 2/2 $560K.

2 new sales: Sunset South #12C 2/2 listed at $620K, Loggerhead Cay #324 2/2 listed at $879K.

No closed sales.

HOMES

9 new listings; 970 Greenwood Ct S 3/2 $829K, 1406 Causey Ct 3/2.5 $1.325M, 235 Daniel Dr 3/2 $1.495M, 920 Almas Ct 3/2.5 $1.595M, 6425 Pine Ave 4/3 $1.685M, 840 Birdie View Pt 3/2.5 $1.925M, 2711 Wulfert Rd 4/4.5.5 $1.998M, 2719 Wulfert Rd 4/4.5.5 $1.999M, 960 Victoria Way 3/3 $2.495M.

13 price changes: 465 Lake Murex Cir 2/2.5 now $1.099M, 198 Southwinds Dr 3/2 now $1.224M, 1321 Sand Castle Rd 3/2.5 now $1.325M, 930 Strangler Fig Ln 5/3.5 now $1.395M, 969 Whelk Dr 3/2.5 now $1.495M, 4573 Bowen Bayou Rd 3/2 now $1.495M, 696 Durion Ct 3/2.5 now $1.495M, 4400 Gulf Pines Dr 4/3 now $1.495M, 848 Limpet Dr 3/2 now $1.8M, 811 Birdie View Pt 3/2.5 now $1.85M, 836 Birdie View Pt 3/3.5 ow $1.999M, 1052 Whisperwood Way 3/3 now $2.6M, 4461 Waters Edge Ln 3/3.5 now $5.85M.

9 new sales: 863 Rabbit Rd (1/2 duplex) 3/2 listed at $678.5K, 657 Rabbit Rd 3/2 listed at $779K, 931 S Yachtsman Dr 4/3.5 listed at $998K, 1396 Sand Castle Rd 3/2 now $1.55M, 2745 Wulfert Rd 3/3.5 listed at $1.558M, 2276 Wulfert Rd 4/5.5 listed at $1.6M, 4415 Gulf Pines Dr 3/3 listed at $1.695M, 1662 Dixie Beach Blvd 3/2.5 listed at $2.249M, 5235 Indian Ct 4/4 listed at $2.348M.

3 closed sales: 744 Martha’s Ln 3/2 $759K, 2228 Starfish Ln 3/2.5 $1.444M, 2477 Wulfert Rd 3/4 $1.715M.

LOTS

No new listings or price changes.

1 new sale: 4163 West Gulf Dr listed at $3.995M.

1 closed sale: 395 Bella Vista Way E $1.275M.

Captiva

CONDOS

1 new listing: Beach Villas #2227 1/1 $849K.

1 price change: Beach Homes #29 4/4 now $3.35M.

2 back-on-market: Beach Villas #2222 1/1 $799K, Sunset Captiva #204 2/2 $1.9M.

1 new sale: Captiva Beach Villas #1-B 3/2.5 listed at $3.295M.

No closed sales.

HOMES

2 new listings: 1127 Longifolia Ct 4/4 $10M, 11531 Paige Ct 3/3.5 $12.995M.

4 price changes: 57 Sandpiper Ct 3/2 now $1.545M, 11516 Wightman Ln 5/4.5 now $3.499M, 11529 Andy Rosse Ln 4/4 now $3.91M, 16512 Captiva Dr 7/5.5 now $10.5M.

No 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