Happy Friday! The “Jan/Feb 2025 Sanibel & Captiva Islands Real Estate Guide” comes out today. Our ad is above. If you’d like to see the full document, here’s a link to it on-line:  https://www.sanibelrealtors.com/real-estate-guide

Island Weather

The novelty of wearing jackets and sweaters is over with the lowest temperature at my home registered both Wed and Thurs mornings at 45 degrees F. Warmed up to 47 degrees this morning.

Even so, there have been plenty of bikers and joggers in shorts with daytime temps into the breezy 60’s/low 70’s some days. Most local and visitors are thankful to be here, away from the more serious cold/white stuff up north and the terrible fire devastation in CA.

The forecast for next week is much the same as this, with most days not expected to be out of the 60’s, but with blue skies and sunshine still generating smiles.

Final Paving of Causeway

A Wed notice from Sanibel City Manager said, “Final paving of Sanibel Causeway begins tonight, Jan 8.” With details provided by the FL Dept of Transportation it continued to say that the work includes the causeway islands and bridge approaches. “Motorists should expect one lane of travel with a flagging operation during the overnight hours of 7 p.m. to 6 a.m. This work is anticipated to occur during these nighttime overnight hours through the end of January.”

My Travel Across Causeway Yesterday

I had a quick errand in Ft Myers after our Realtor Caravan Meeting yesterday. The drive turned out to not be too quick. At noon, going from the Assoc of Realtors building to the toll booth took 55 minutes (usually 15). But no workers or holdups were noticed anywhere, just continued stop-and-go traffic. Maybe that was during a worker lunch break as when I returned about 30 minutes later, there was a flagger on the Sanibel side of the toll booth and heavy equipment on the causeway with concrete side barriers being moved. Traffic was moving OK in both directions, but the City later posted a “heavy traffic advisory” for the rest of the day and evening, saying it was due to FDOT crews completing underground causeway inspections. More restoration progress!

Sanibel Natural Resources Dept Updates

Blind Pass – Also on Wed, Jan 8, the City provided an update on some post-Milton recovery efforts. Following that storm, the City’s disaster contractor Crowder Gulf removed sand from the roadway that was impacting access to/from Captiva. They have screened and stockpiled 3 to 4 thousand cubic yards of sand at Turner Beach. Now Crowder-Gulf will be removing additional sand from the right of way and returning the clean screened sand back on northern Sanibel beaches to restore critically eroded areas adjacent to the road protection wall. That work has begun and is expected to take about a week, but no lane closures are expected. Flaggers will direct traffic as equipment and sand are moved across the roadway.

Lighthouse Beach – Phase II of the City’s beach renourishment project at Lighthouse Beach resumed this week, after a holiday break. Crews will continue to place the remaining 105K tons of sand on the bayside of Lighthouse Beach Park to strengthen the beach coastline and protect the Sanibel Lighthouse. Work should be completed by mid-Feb. Both bayside parking lots are closed while the remainder of this sand is moved, but the gulf-side parking lot is open. Crews will temporarily close portions of the beach to the public while placing sand. (That work is being accomplished Mon-Fri from 6 a.m. to 6 p.m.)

Sanibel & Captiva Islands Real Estate News

At the Sanibel & Captiva Islands Association of Realtors first Caravan Meeting of the year yesterday, there was chatter about the judge’s decision this week to deny the motion for the summary judgement filed and argued by Lee County and South Seas Resort. That essentially means that the total number of units at South Seas Resort remains and cannot exceed 912, or at least the county will not issue permits for more than that number. (That’s probably not the end of this issue though, some think South Seas may now apply for a zoning change to allow building higher. Stay tuned.)

We also heard that South Seas has sent existing owners notices of cancellation of their previous rental agreements. They are offering new agreements to owners who sign-up quickly, with an incentive of not requiring the $50K initial resort membership fee. The annual price to then use the resort amenities has yet to be clarified, proving again that it always pays to do your homework when signing contracts. We can help with that.

The other continued topic of conversation among colleagues was the volume of inquiries many are getting from owners looking to list. One long-timer said, “We need to start getting tough with these sellers. Many don’t recognize how much the market has changed.”

When our members get together, it also is a popular Realtor topic to ask each other about how many buyer inquiries and showings their listings are getting. Many are getting none – and have never seen a market like this. We agree and understand that frustration. Attracting potential purchasers often requires attracting their Realtor. (One listing agent recently emailed about a commission increase (to a level not seen here in many years). Another has copied that, as I received another notice this morning about a new listing offering the same.)

A pal also got them said “If we don’t have buyers, it doesn’t matter how much sellers are willing to pay us. Besides, we are obligated to introduce buyers to all the listings that match their requirements.”

During the Caravan Meeting, just one sale was announced, but there were many new listings and price reductions. Following the meeting,13 Sanibel homes and a condo were open for easy viewing. Next Wed is the Association 2025 Installation/2024 Awards Banquet. The next Caravan is in two weeks, on Thurs Jan 23.

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

Again, this week, there were no Captiva sales, but on Sanibel five homes and one condo went under contract. Those compare to a whopping 30 new and back-on-market listings and 22 price changes.

My crystal ball says the Florida real estate market will start to stabilize this year. From the recession to the pandemic to hurricanes, to real estate rules changing nationally, there have been so many ups and downs that it will be positive to see stabilization. With election uncertainty over, many are feeling better economically, as that further improves and the islands continue to bounce back, more sales should follow. Fingers crossed (just in case).

SANIBEL RESIDENTIAL	CONDOS			HOMES			LOTS
	#	Avg Price	DOM	#	Avg Price	DOM	#	Avg Price	DOM
For sale:	123	992,048	131	202	2,036,454	98	35	983,565	245
Under contract	5	938,800	105	17	1,727,411	62	0	N/A	N/A
Sold to 1/10/25	1	1,967,665	397	5	1,132,400	37	0	N/A	N/A
Sold 2024	75	818,493	117	164	1,471,981	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:	38	1,288,815	174	21	6,025,095	157	1	12M	498
Under contract	0	N/A	N/A	1	999,999	34	0	N/A	N/A
Sold to 1/10/25	0	N/A	N/A	0	N/A	N/A	0	N/A	N/A
Sold 2024	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 Jan 3-10:

Sanibel

CONDOS

7 new listings: Sundial #F105 1/1 $499K, Sandpiper Beach #505 2/2 $750K, Oceans Reach #2B2 1/1 $789K, Oceans Reach #4C2 2/2 $989K, Sealoft Village #105 2/2 $995K, Lighthouse Point #323 3/2 $1.025M, Beachcomber #D201 3/2 $1.125M.

1 back-on-market: Somerset #D201 3/2.5 $1.725M.

3 price changes: Captains Walk #A2 1/1 now $250K, Tantara #202 2/2 now $895K, Nutmeg Village #211 2/2 now $990K.

1 new sale: Tanglewood #5A 3/2 listed at $1.149M.

1 closed sale: Sandpiper West #4 3/2.5 $1,967,655.

HOMES

12 new listings: 1315 Par View Dr 3/2 $999K, 1925 Roseate Ln 2/2 $999,900; 971 Main St 3/2 $1.149M, 1113 Sand Castle Rd 3/2 $1.149M, 4619 Rue Bayou 3/2 $1.195M, 3131 Twin Lakes Ln 3/2 $1,419,999; 640 Periwinkle Way 3/2 $1.449M, 3711 Agate Ct 3/2.5 $1.449M, 5243 Indian Ct 2/2 $1.689M, 930 Kings Crown Dr 4/3 $2.4M, 1730 Jewel Box Dr 4/3 $3.8M, 3611 West Gulf Dr 4/4.5 $6.995M.

3 back-on-market: 220 Palm Lake Dr 3/3 $1,199,999; 978 Oyster Ct 4/4 $2.749M, 4513 Waters Edge Ln 3/2.5 $5.45M.

13 price changes: 209 Robinwood Cir 3/2 now $629K, 1322 Sand Castle Dr 3/2 now $699K, 2105 Sunset Cir 3/2 now $699K, 1846 Farm Trail 3/2 now $875K, 588 Hideaway Ct 3/2 now $890K, 1677 Sabal Sands Rd 3/2 now $895K, 9247 Dimmick Dr 3/2 now $949K, 560 Boulder Dr 3/2 now $995K, 1048 Fish Crow Rd 3/2 now $1.199M, 5300 Umbrella Pool 3/3 now $1.325M, 1311 Par View Dr 3/3 now $1.35M, 1310 Par View Dr 3/3 now $1.45M, 1985 Wild Lime Dr 3/2 now $1.689M.

5 new sales: 3898 West Gulf Dr 3/2 listed at $795K, 557 Lake Murex Cir 3/2.5 listed at $1.44M, 746 Nerita St 4/2 listed at $1.595M, 1870 Woodring Rd 3/3.5 listed at $2.498M, 2960 Wulfert Rd 5/5.5 listed at $2.989M.

4 closed sales: 490 & 460 Old Trail Rd 3/3 $570K, 2604 Coconut Dr 3/2 $725K, 761 Nerita St 3/2 $1.215M, 2688 Coconut Dr 3/2 $2.348M.

LOTS

2 new listings; 1377 Jamaica Dr $425K, 460 Sawgrass Pl $925K.

1 back-on-market: 2807 West Gulf Dr $819K.

No price changes, new or closed sales.

CAPTIVA

CONDOS

No new listings.

1 back-on-market: Lands End Village #1650 3/3 $2.399M.

3 price changes: Tennis Villas #3135 1/1 now $429K, Tennis Villas #3132 2/2 now $699K, Gulf Beach Villas #2011 1/1 now $710K.

No new or closed sales.

HOMES

2 new listings: 15161 Captiva Dr 4/4.5 $6.495M, 16500 Captiva Dr 6/6.5 $8.495M.

1 back-on-market: 16632 Captiva Dr 5/4 $6.25M.

3 price changes: 58 Sandpiper Ct 3/2 now $1.525M, 11550 Paige Ct 5l5.5.5 now $6.5M, 16979 Captiva Dr 7/7.5 now $7.5M.

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.