Island Weather
During my island travels yesterday, it was nice to see another business has opened. At 2400 Palm Ridge Rd, in the corner of the building that formerly was ReMax of the Islands, the new shop is Bubby Latitude.
This home décor and gift store was in Bell Tower after Hurricane Ian and is back on-island in this new location – open 10 a.m. to 5 p.m. Mon through Sat.
Palm Ridge Rd also gets my vote for some of the cutest outdoor holiday decorations. If you get a chance check them out in front of Pak-n-Ship, John Grey Painting, Landgraphics, and Kingfisher.
There are a surfing Santa, several Christmas pelicans, an alligator bearing gifts, a minion, and a pink octopus.
Sanibel & Captiva Islands Association of Realtors
The next Association Caravan Meetings will be Jan 9 and 23, with new listings open for viewing beginning at noon. We also look forward to the annual Installation and Awards Banquet, on Jan 15.
Sanibel & Captiva Real Estate Scoop
Again, it was a week with more new and back-on-market listings and price reductions than sales. Just three new Sanibel sales were reported, a duplex and two unique high-end homes.
It is probably a little soon to compare 2024 sales to past years, but several conversations this week with owners thinking of selling, made it hard not to relay that what we are experiencing here now is a serious post-hurricane dip in the market.
For years, we looked at larger communities and complexes as bellwethers. Below is where a few of those stand today, compared to the last few years. First are a few Sanibel residential communities showing number of homes for sale, under contract, and the number of home sales by year,
Then similar data for a few of the larger island condominium complexes. (Data from Sanibel & Captiva Islands MLS 12/27/24) (Also note: Pointe Santo and Sundial are not yet open for paying guests and have not been since late 2022.)
The statistics illustrate that even after the pandemic which began in late 2019/early 2020, Sanibel real estate was moving well. A whopping 355 homes and 287 condos closed in 2021.
Then came Ian in 2022, followed by Helene and Milton. This year when compared to 2021, not even half the number of homes sold and just a quarter the number of condos. When economists say it likely will take a few more years for the market to rebound, I agree.
That’s not to say, don’t list if you want to sell. The SanibelSusan Team is always looking forward to new listings and ways to get existing listings sold, just like we are always looking for new buyers. There are some excellent offerings out there for today’s buyers, but finding buyers is challenging.
A week with 30 island listings and price changes, and just three sales, doesn’t help.
|
Sanibel # For Sale |
# for Sale |
# Under Contract |
Sold to 12/27/24 |
Sold 2023 |
Sold 2022 |
Sold 2021 |
Sold 2020 |
Sold 2019 |
Sold 2018 |
Sold 2017 |
|
HOMES: |
||||||||||
|
The Dunes |
15 |
0 |
20 |
29 |
18 |
29 |
39 |
18 |
29 |
20 |
|
Gumbo Limbo |
9 |
1 |
7 |
12 |
6 |
21 |
16 |
11 |
6 |
12 |
|
The Sanctuary |
8 |
1 |
6 |
6 |
7 |
14 |
10 |
13 |
5 |
3 |
|
Sanibel Estates |
10 |
1 |
10 |
10 |
6 |
13 |
16 |
7 |
13 |
11 |
|
Shell Harbor |
17 |
1 |
6 |
27 |
13 |
18 |
18 |
11 |
11 |
13 |
|
All Communities |
186 |
16 |
163 |
263 |
185 |
355 |
289 |
211 |
218 |
186 |
|
CONDOS |
||||||||||
|
Loggerhead Cay |
3 |
0 |
7 |
4 |
5 |
14 |
13 |
7 |
16 |
11 |
|
Pointe Santo |
3 |
0 |
1 |
3 |
7 |
25 |
4 |
3 |
3 |
4 |
|
Sanibel Moorings |
8 |
0 |
4 |
0 |
5 |
7 |
5 |
3 |
7 |
4 |
|
Sundial |
9 |
0 |
12 |
16 |
14 |
30 |
26 |
20 |
20 |
22 |
|
All Complexes |
116 |
4 |
75 |
98 |
123 |
287 |
193 |
127 |
155 |
140 |
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.
|
SANIBEL RESIDENTIAL |
CONDOS |
HOMES |
LOTS |
||||||
|
# |
Avg Price |
DOM |
# |
Avg Price |
DOM |
# |
Avg Price |
DOM |
|
|
For sale: |
116 |
990,232 |
134 |
186 |
2,004,848 |
98 |
32 |
1,014,837 |
253 |
|
Under contract |
4 |
1,373,750 |
183 |
16 |
1,569,406 |
15 |
0 |
N/A |
N/A |
|
Sold to 12/27/24 |
75 |
818,493 |
117 |
163 |
1,476,319 |
115 |
15 |
1,403,533 |
192 |
|
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: |
35 |
1,214,457 |
168 |
22 |
6,597,545 |
241 |
1 |
12M |
484 |
|
Under contract |
0 |
N/A |
N/A |
1 |
999,999 |
34 |
0 |
N/A |
N/A |
|
Sold to 12/27/24 |
13 |
1,728,846 |
185 |
8 |
4,887,187 |
182 |
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 Dec 20-27:
CONDOS
7 new listings: Spanish Cay #F6 1/1 $475K, Donax Village #11 2/2 $625K, Sunset South #10A 2/2 $659K, Loggerhead Cay #142 2/2 $987.5K, Kings Crown #217 2/2 $1.599M, High Tide #B101 3/2 $2.495M, Seascape #102 3/3 $3M.
1 price change: Tennisplace #D31 1/1 now $369K.
No new sales.
1 closed sale: Sanibel Moorings #1342 2/2 $840K.
HOMES
8 new listings: 1312 Par View Dr 3/2 $1.089M, 1965 Roseate Ln 3/2 $1.199M, 9067 Mockingbird Dr 3/2 $1.199M, 734 Anchor Dr 3/2 $1.2M, 755 Pen Shell Dr 3/2 $1.475M, 1508 Middle Gulf Dr 3/4 $1.695M, 2450 Wulfert Rd 4/3 $1.895M, 4039 West Gulf Dr 3/4 $4.975M.
7 back-on-market: 9225 Belding Dr 3/2 $550K, 1731 Serenity Ln 4/3 $750K, 3744 West Gulf Dr 4//4 $1.849M, 1507 Angel Dr 3/2.5 $1.95M, 4988 Joewood Dr 4/4 $2.45M, 408 Bella Vista Way E 4/4 $3.484M, 542 Kinzie Island Ct 3/4.5 $3.489M.
2 price changes: 4560 Brainard Bayou Rd 3/2 now $849K, 5309 Umbrella Pool Rd 3/3 now $890K (SanibelSusan listing).
3 new sales: 1712 Sand Pebble Way (duplex) 4/2 listed at $599K, 5606 Baltusrol Ct 5/6 listed at $3.195M, 6195 Henderson Rd 3/3.5 listed at $3.495M.
No closed sales.
LOTS
No new listings.
1 back on market: 3730 Coquina Dr $499K.
1 price change: 4801 Tradewinds Dr now $1.98M.
No new or closed sales.
CAPTIVA
CONDOS
No new listings.
1 back-on-market: Lands End #1666 3/3 $2.485M.
No price changes, new or closed sales.
HOMES
No new listings.
1 back-on-market: 14865 Mango Ct 2/2 $1.595M.
1 price change: 15153 Captiva Dr 3/3 now $5.898M.
No new sales.
1 closed sale: 1119 Schefflera Ct 5/4.5 $9.675M.
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.
