A few overcast days this week kept the temperature down, while the occasional sprinkles have vegetation bursting with growth. More of the same is expected over the next week with shower chances at 50%.

Shell Harbor Entrance Channel Dredging

The City posted this week that dredging of the entrance channel to Shell Harbor began yesterday. Though the channel will remain open during the dredging, there may be short periods when boat traffic will be stopped. The project will take a few weeks. During this time, the back section of the Sanibel boat ramp parking lot will be closed. Boat trailer parking spaces will not be impacted.

From Mariner Pointe looking toward Sanibel Marina 07-12-2024

Sea Turtle Season in Full Swing

SCCF (Sanibel-Captiva Conservation Foundation) reported this week that since April 24 they have documented 723 sea turtle nests and 2,204 emerged hatchlings on Sanibel and Captiva. This includes 721 loggerhead nests, one leatherback, and one green sea turtle. Of the hatchlings, 2,164 were loggerheads and 40 were leatherbacks.

SCCF photo

To prevent disorientation of hatchlings, it is a crucial time of year to turn off or shield lights that are visible from the beach after 9 p.m. Hatchlings naturally detect the moonlit horizon to find their way to the water.

To report any problems with lighting, nests, sea turtles, hatchlings, or furniture on the beach, please call SCCF Sea Turtle Hotline at 978-728-3663.

Best Islands in the Continental U.S.

This week “Travel & Leisure” posted the results of their 2024 World’s Best Awards. Included were their 15 best islands in the continental U.S. The list includes both Sanibel and Captiva. Islands were specifically rated on natural attractions/beaches, activities/sights, restaurants/food, people/friendliness, and value. The full list in order of ranking: Golden Isles (GA), Amelia Island (FL), Mackinac Island (MI), Martha’s Vineyard (MA), Florida Keys (FL), Cumberland Island (GA), San Juan Islands (WA), Nantucket (MA), Kiawah Island (SC), Sanibel Island (FL), Hilton Head Island (SC), Mount Desert Island (ME), Fire Island (NY), Captiva Islands (FL), and South Padre Island, TX).

Sanibel & Captiva Association of Realtors®

At the local Association of Realtors Caravan Meeting yesterday, two Sanibel condos and two Sanibel homes were open for viewing. The next Caravan follows the monthly membership meeting on July 25.

Below, with data from the islands Multiple Listing Service (MLS) are summary tables of the residential sales statistics, followed by the Sanibel/Captiva MLS action reported this week.

Crystal Ball

Often, I get quizzed, mostly by owners thinking of selling, on what the next few months will be like for sales. As I told one this week inquiring about listing a condo, I think the market for a typical gulf-view 2-bedroom condo in a complex that rents short-term is going to get worse before it gets better.

With most condo associations still dealing with building and amenity restorations, many completion dates are being pushed out, as carrying costs continue to go up. Hurricane Ian has made my crystal ball fuzzy, but I think the storm fallout can be summed up as follows.

Right after the hurricane, there was a flurry of activity by investors and some buyers looking to grab damaged properties, mostly homes, at discounted prices.

Then last year, there was a wave of terrific sales activity with mostly undamaged properties or that could be occupied, again mostly homes, but gulf-front condos in residential complexes also sold well.

Fast forward to today and what the market is in now is what some agents are calling the post-Ian lull. Summer is traditionally a slower selling time basically because there are few buyers here then, particularly qualified buyers. This year, summer is further complicated with it being an election year and there being a huge mix of offerings.

Today, properties are available that are still in damaged condition ,others in the throes of being restored, and some that are brand-spanking new. This last group being the first wave of damaged properties that have been either mostly or fully restored. There will be more and more of those listed as construction and decorating projects complete and complexes reopen.

Plenty of listings also have come off the market for the summer, because that is what often occurs here then. Come fall, there will be more choices for hesitant buyers.

Does my crystal ball think the island will bounce back better than ever? You bet. For investment-type condos, it just may be later rather than sooner. Well-priced homes will continue to sell, but it may take until later this year or early 2025 before we see a semblance of a normal market overall.

Sanibel & Captiva Islands Multiple Listing Service Activity Jul 5-12:

Sanibel

CONDOS

2 new listings: Loggerhead Cay #401 2/2 $885K, Atrium #306 2/2 $1.999M.

1 price change: Mariner Pointe #1023 2/2 now $549K.

1 new sale: White Pelican #111 3/2 listed at $1.575M.

1 closed sale: Somerset #B101 3/3.5 $1.725M.

HOMES

3 new listings: 9439 Cotten Ct 3/4.5 $1.579M, 1043 Blue Heron Dr 3/3 $1.695M, 5750 San-Cap Rd 3/2 $2.1M.

5 price changes: 9225 Belding Dr 3/2 now $599K, 9263 Dimmick Dr 3/2 now $769.9K, 838/840 Rabbit Rd (duplex) 4/2 now $959K, 729 Sand Dollar Dr 4/3 now $1.299M, 911 S Yachtsman Dr 3/3 now $1.785M.

5 new sales: 547 Chert Ct 3/2.5 listed at $899K, 623 Lighthouse Way 4/3.5 listed at $1.395M, 2474 Wulfert Rd 4/3.5 listed at $2.298M, 1500 Angel Dr 4/3.5 listed at $3.5M, 4731 Rue Belle Mer 5/5.5 listed at $7.995M.

3 closed sales: 6090 Dinkins Lake Rd 3/3.5 $1.125M, 5414 Osprey Ct 3/3 $1.257M, 1365 Jamaica Dr 3/2.5 $1.65M.

LOTS

Nothing to report.

Captiva

CONDOS

1 new listing: Tennis Villas #3120 1/1 $540K.

No price changes.

1 new sale: Beach Homes #25 3/2 listed at $2.8495M.

1 closed sale: Beach Homes #24 3/3 $3M.

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 & check out our ad below that came out today in the island July-August issue of the “Real Estate Guide”!