As nice as it was to get away last week, learn new things, and renew friendships with colleagues at the Florida Realtors 2023 Convention and business meetings, it is always great to drive across the causeway and settle back in at “home sweet home”.
Anxious to see what progress occurred during my time in Orlando, I drove all over the island this week. Repairs continue and new landscaping has sprung up at many homes, but it is still a little discouraging to see so many condo complexes looking like they have for months.
There are exceptions, but overall, many condo owners now are recognizing that it will likely be months (if not years) before their community is back to a semblance of normalcy. (I did another drive-around this afternoon and took photos at some of the complexes where I saw workers. Kudos to those roofers that were atop buildings in 90+degree sunshine. See photos below taken 2-2:30 p.m. 8/25/23.)
Those traveling the causeway saw changes this week with a new temporary paved roadway open. Huge piles of enormous rock and materials keep appearing and bridge/causeway work continues overnight with lane shifts and flagging operations from 8 p.m. to 5 a.m. Elevation of the new road will be ~2’ higher than the existing roadway. Periodic delays are expected.
Sanibel & Captiva Islands Real Estate
Yesterday at the August membership meeting of the Sanibel & Captiva Islands Association of Realtors, sponsors were “Ding” Darling Wildlife Society and LMCU (Lake Michigan Credit Union).
Things to Do at “Ding” – AnnMarie Wildman with Wildlife Society promoted the Refuge describing the many upcoming events there including “Art in the Wild” Oct 21 and 22, Holiday Shopping Night Nov 29, Ice Cream Social Dec 13, Estate Planning Seminar Jan 30, Lecture Series Jan-Apr 2024, Sounds of the Sand Mar 23 and 24, Solar Eclipse Viewing Apr 8, and Tarpon Tournament May 9 and 10. Every week the refuge, Visitor and Education Center, Nature Store, and America’s Best Restroom are open six days a week (closed Fridays). Residents and visitors are encouraged to bike, drive, and walk on Wildlife Drive, Indigo Trail, and Bailey Tract.
LMCU Financing – Dan Krispinsky with Lake Michigan Credit Union assured attendees that they are financing island properties including some damaged non-warrantable condos. LMCU offers both conventional and jumbo construction mortgages, and renovation/repair loans.
Pools – Meeting speaker was Anthony Aracri with Hydro Leak Detection and Egret Pools. After summarizing examples of pool problems encountered from the hurricane, he described how material availability, costs, and permitting/scheduling delays are affecting pool repairs and construction today. The numbers he quoted for new pool construction were jaw dropping.
Caravan – Following the meeting, five properties were open for Caravan viewing. Those included three Sanibel homes and two condos at South Seas Resort.
Today’s Market – The consensus at the meeting was that business is slow now that it is peak hurricane season. Today all eyes are glued to the tropical disturbance south of us that is expected to strengthen over the weekend. We do not want bad weather here.
Below with data from the islands MLS (Multiple Listing Service) are updated summary tables of the residential sales statistics, followed by the island MLS action this week.
|#||Avg Price||DOM||#||Avg Price||DOM||#||Avg Price||DOM|
|Sold 2023 to 8/25||71||914,156||54||207||1,233,188||66||20||845,025||68|
|#||Avg Price||DOM||#||Avg Price||DOM||#||Avg Price||DOM|
|Sold 2023 to 8/25||10||888,200||111||15||2,738,866||71||0||N/A||N/A|
This week, teammate Dave continued working with buyers looking to take advantage of reduced condo prices, while we both have viewed properties for owners not wanting to wait for restoration to complete. We are thankful to have a couple of closings coming up and a new listing this week.
Every property is unique and the variety of insurance coverage, cost reimbursement, repairs covered, and timetables cause challenges for both listing and selling agents. Being detail-oriented is more important than ever, with flexibility also a key ingredient to success in these unusual times.
Teammate Lisa also continues to update our weekly inventory lists which we email to many interested owners and prospective buyers. Please let us know anytime you want a new one.
Sanibel & Captiva Islands Multiple Listing Service Activity August 18‑25
4 new listings: Blind Pass #C106 2/2 $499.9K (SanibelSusan listing), Sundial #A303 1/1 $739K, Sanibel Siesta #401 2/2 $769K, Somerset #D201 3/2.5 $1.995M.
1 price change: Sundial #R406 2/2 now $1.799M.
2 new sales: Sundial #I-106 1/1 listed at $375K, Sanctuary Golf Villages I #2-3 2/2.5 listed at $995K.
1 closed sale: Sunset South #11A 2/2 $598K.
3 new listings: 1388 Tahiti Dr 3/2 $1.199M, 3898 West Gulf Dr 3/2 $1.389K, 830 Strangler Fig Ln 5/3.5 $1.65M.
3 price changes: 1683 Atlanta Plaza Dr 3/2 now $489K, 887 Casa Ybel Rd (duplex) 5/3 now $799K, 2255 Troon Ct 4/5.5.5 now $3.365M.
2 back on market: 1986 Wild Lime Dr 3/2 $859K, 803 Lindgren Blvd 4/3 $1.1M.
5 new sales: 1377 Sand Castle Rd 3/2 listed at $724,999; 2042 Wild Lime Dr 3/2 listed at $825K, 9008 Mockingbird Dr 3/3 listed at $1.149M, 774 Sand Dollar Dr 3/3.5 listed at $1.999M, 836 Birdie View Pt 3/3.5 listed at $2.395M.
5 closed sales: 1284 Par View Dr 2/2 $540K, 586 Boulder Dr 3/2 $600K, 540 East Lake Rd 3/2 $950K, 851 Angel Wing Dr 5/4 $1.15M, 895 Angel Wing Dr 3/2.5 $1.39M.
1 new listing: 2490 Coconut Dr $1.5M.
No price changes.
1 new sale: 4501 Waters Edge Ln listed at $2.995M.
No closed sales.
2 new listings: Bayside Villas #4306 3/3 $1.495M, Bayside Villas #5344 3/3 $1.7M.
No price changes, new sales, or closed sales.
No new listings or price changes.
1 new sale: 32 Urchin Ct 3/3 listed at $2.195M.
1 closed sale: 11407 Old Lodge Ln 3/2 $1.6M.
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. Until next Friday, Susan Andrews, aka SanibelSusan