As we wrap up another sunshiny Friday on Sanibel and Captiva, only a couple of occasional showers earlier in the week dampened outdoor activities. Most recent rain has been inland. More of the same is expected next week with daytime temperatures forecast to remain in the high 80’s/low 90’s (degrees F), though rain predictions are up.

It really is wonderful to again see so much new green growth everywhere. When I drive down Periwinkle Way and around the “S’ turn on Captiva Drive, I often think that soon we may again see the lush canopy tunnels that have not reappeared since Charley, almost 20 years ago.

Photo below is one I took yesterday from Woodring Dr overlooking San Carlos Bay. Following it is one that teammate Dave took this morning of the progress of the new fishing pier at Mariner Pointe, also overlooking the bay.

Sanibel Estates & Shell Harbor Update

Following up on the news and photo last week that dredging at the entry to the East End canals was underway, today as a Sanibel Estates homeowner, I received a Notice of Public Hearing from the City.

Back in 2011, the City established a recurring annual assessment in these communities to fund regular dredging of the entrance canal (opposite the marina). It is paid through our Lee County real estate tax bills. I paid $40 for that last year.

With dredging cost increases, the City has scheduled a public hearing for August 20 at 9:10 a.m. to consider adoption of an Annual Rate Resolution to impose an annual assessment in an increased amount for the period beginning October 1, 2024, through September 30, 2025. The assessment amount is anticipated to be $125 annually for each property with an existing dock, mooring space, etc. or the right to construct one. Like the earlier assessment, this new one would be paid through our annual real estate taxes.

Upcoming Sanibel 50^th Anniversary

November 5, 2024, marks the 50^th anniversary of when Sanibel incorporated. A City where natures comes first and where its groundbreaking Sanibel Plan became a model for other cities. Starting then and running through Luminary Holiday Stroll 2025, Sanibel and the Sanibel-Captiva Chamber of Commerce are planning a 13-month celebration in partnership with island businesses, non-profit and faith-based organizations, and resident groups.

Events are added to the Chamber’s 50^th Anniversary Calendar at www.Sanibel-Captiva.org. Sign up there for notifications and to purchase anniversary merchandise. For those wondering about the events planned so far:

Nov 5 – City of Sanibel time capsule revealed.

Nov 14 – Fall Health Fair at the Sanibel Rec Center.

Nov 19 – Sanibel Plan documentary premier, exhibit opening, & reception.

Dec 6 – Sanibel Luminary Holiday Stroll 2024

Dec 7 – 2024 F.I.S.H. Jog n Jam 10K/5K Race, Sanibel Community House (also offered virtually)

Dec 7 – 2024 F.I.S.H. Jog n Jam Concert on the Beach with fireworks, Tween Waters

Apr 19 – Beer in the Bushes

July 4 – Fourth of July Parade

Dec 5 – Sanibel Luminary Holiday Stroll 2025

New Florida Laws

As posted in our island MLS this week: “Dozens of new laws passed during the most recent legislative session and approved by Gov. Ron DeSantis go into effect today (July 1, 2025), impacting homeowners across the state. They cover a wide range of issues, many championed by Florida Realtors® as a legislative priority. Additionally, a bill that would have gone into effect today was vetoed by DeSantis on Thursday. SB 280 was a measure aimed at regulating vacation rentals. The veto was also a Florida Realtors’ legislative priority.

The following is a breakdown of some of the new laws that begin today that impact the real estate industry:

Hometown Heroes Housing Program (SB 328): Adds $100 million to the successful first-time homebuyer program. It also builds on the policies created in last year’s Live Local Act that spur private investment in affordable housing, and it clarifies changes to local zoning, height and density regulations to ensure counties and cities have the guidance they need to create more affordable housing options in their areas.

My Safe Florida Home Program (SB 7028): Adds $200 million to the program so more Floridians can protect their homes against storms and reduce their insurance premiums. The bill also provides for home inspections without having to apply for a grant, lets low-income homeowners receive up to $10,000 without having to match the amount and mandates the program administrator to streamline the grant process while prioritizing reviews based on income and age, among other things.

My Safe Florida Condominium Pilot Program (HB 1029): Expands the My Safe Florida Home Program to include condominiums. This expansion allocates $30 million to help condominiums within 15 miles of the coast harden roofs and openings against storms.

Protecting Private Property Rights (HB 62): Addresses issues with squatters who occupy private property by allowing property owners or their agents to request the immediate removal of unlawfully occupying persons from a residential dwelling.

$408 Million for State and Local Affordable Housing Programs: Lawmakers allocated $408 million to the State and Local Government Housing Trust Funds. This includes $174 million for the State Housing Initiatives Partnership (SHIP) which includes downpayment and closing cost assistance programs, and $234 million for the State Apartment Incentive Loan program (SAIL) which helps build affordable rental housing.

Property Insurance Cost Reductions (HB 7073): Requires insurers to give homestead property owners a deduction on their residential property insurance premiums in the amount of 1.75% of the policyholder’s total premium. It applies to policies with coverage for a 12-month period.

Increased Transparency of Condominium Documents (HB 1021): Requires condo associations of 25 or more units to post digital copies of official condominium documents on their websites. These documents include bylaws and rules, articles of incorporation, declarations, annual financial statements and budgets, FAQ sheets, building inspection reports and reserve studies.

Increased Transparency of HOA Documents (HB 59): Requires homeowners’ associations with 100 or more parcels to deliver physical or digital copies of their rules and covenants to all members and new members.

Over $1.2 Billion for the Everglades and Water Quality (HB 5001): Includes funding for Everglades restoration ($581 million), the C-51 Reservoir ($100 million), Biscayne Bay ($20 million), the Indian River Lagoon ($75 million), the Caloosahatchee River & St. Lucie Estuaries ($25 million), harmful algal blooms ($30 million), springs restoration ($55 million), beach management funding assistance ($50 million), total maximum daily loads ($25 million), the Wastewater Grant Program ($135 million), Resilient Florida Grant Program ($125 million) and Alternative Water Supply ($55 million).

Seller Flood Disclosure (HB 1049): Requires a seller to disclose in writing certain flood information to a prospective purchaser at or before executing a contract for the sale of residential property. This disclosure will help buyers make more informed decisions about a property and reduce the number of post-closing disputes. Effective October 1, 2024.

Increased Transparency of HOA Documents (HB 1203): Requires homeowners’ associations with 100 or more parcels to maintain official records on their website or an app. Effective January 1, 2025.

Annual Adjustment to Homestead Exemption Value and Exemption of Homesteads (HB 7017 and HB 7019): Amendments to the State Constitution requiring the $25,000 of assessed value which is exempt from all ad valorem taxes other than school district taxes be adjusted annually for inflation. If approved by voters it would take effect January 1, 2025.”

Sanibel & Captiva Association of Realtors®

The local Association of Realtors® did not meet this week, but next week there are two big events. On Tuesday morning, Florida Realtors® instructor Patti Ketchum is teaching a 3-hour Buyer/Broker webinar. Over 2500 Realtors® are registered to attend via Zoom while the Sanibel & Captiva Islands Association also is offering it in their on-site meeting room. Then Thursday, Sanibel Planning Commission Vice Chairman and local Realtor® Eric Pfeifer will be the guest speaker at July Membership Meeting, with Caravan following.

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

It looks like my complaining last week about the condo market getting worse before it gets better, stoked a little business. There had not been much Sanibel condo action in a month, then surprisingly this week four units went under contract, including one by yours truly! Hooray! Here’s hoping they all make it to closing and that sales continue.

SANIBEL RESIDENTIAL	CONDOS			HOMES			LOTS
	#	Avg Price	DOM	#	Avg Price	DOM	#	Avg Price	DOM
For sale:	87	1,030,041	168	110	2,557,141	153	27	681,551	258
Under contract	6	1,272,483	106	16	1,843,874	95	3	3,556,000	185
Sold 2024 to 7/19	50	834,990		117	1,423,395	101	11	1,497,818	155
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	1,539,379	190	20	7,303,800	244	2	13,750,000	253
Under contract	2	1,897,250	262	1	2,850,000	57	0	N/A	N/A
Sold 2024 to 7/19	11	1,772,727	166	5	4,944,500	146	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

Sanibel & Captiva Islands Multiple Listing Service Activity July 12-19:

Sanibel

CONDOS

1 new listing: Oceans Reach #1D3 2/2 $979K.

2 price changes: Donax Village #10 2/2 now $550K, Pointe Santo #C21 2/2 now $950K.

4 new sales: Sanibel Arms #C1 2/2 listed at $349.9K, Loggerhead Cay #401 2/2 listed at $885K, Sunset South #15B 2/2 listed at $1.1M (SanibelSusan buyer), Sundial #D401 2/2 listed at $1.179M.

2 closed sales: Sunset South #9B 2/2 $550K, Sandpiper Beach #504 2/2 $940K.

HOMES

1 new listing: 1406 Causey Ct 3/2.5 $1.229M.

6 price changes: 1515 Bunting Ln 2/2 now $869K, 1125 Captains Walk St 3/3 now $985K, 3822 Coquina Dr 4/3.5 now $999,999; 251 Southwinds Dr 4/3 now $1.12M, 1242 Par View Dr 3/2 now $1.15M. 2255 Troon Ct 4/5.5.5 now $2.575M.

2 back-on-market: 2479 Blind Pass Ct 3/2 $999.9K, 2474 Wulfert Rd 4/3.5 $2.298M.

1 new sale: 490 & 460 Old Trail 3/2.5 listed at $650K.

1 closed sale: 199 Southwinds Dr 3/3 $700K.

LOTS

No new listings.

1 price change: 4019 Coquina Dr now $499K.

No new or closed sales.

Captiva

CONDOS

Nothing to report.

HOMES

1 new listing: 1119 Schefflera Ct 5/4.5 $10M.

No price reductions, new or closed sales.

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.