It is time for another sunny Friday update from The SanibelSusan Team. It was not picture perfect every day though, as a rain band passed through yesterday afternoon. Saved me from having to add water to my pool and gave vegetation and critters a quick drink.

Today, the weather is back to blue skies and plenty of sunshine. More of the same is forecast through the weekend and next week.

Traffic has become noticeably less, probably since some snowbirds have already departed. There still have been plenty of contractor vehicles and sand trucks during the workday, but the beach renourishment project is wrapping up early and there certainly are fewer cars on the roads. It also is a breeze now to come-on/go-off island on the weekends.

Sanibel Events & Openings

The Bait Box – at 1041 Periwinkle Way, had their ribbon cutting on Tuesday in their newly-elevated building which was lifted off the palm tree pilings during the storm.  Here since 1971, it offers fishing supplies and equipment, licenses, and rentals. They are open 6:30 a.m. to 7 p.m. daily.

Cheeburger Cheeburger – in Tahitian Gardens is under new ownership and reopened yesterday, also with ribbon cutting. They are closed on Mondays, otherwise open daily at 11 a.m., serving lunch and dinner.

31^st Annual Sam Bailey’s Island Night – at Hammond Stadium is Wednesday, April 17, with parade beginning at 6:10 p.m. (gates open at 6). The baseball game starts at 7 p.m. with the Florida State League Fort Myers Mighty Mussels playing the Jupiter Hammerheads (Minor League). Free tickets are available at the Chamber of Commerce Visitors Center, Bank of the Islands, Adventures in Paradise Outfitters, Doc Ford’s Rum Bar & Grille, Huxters Market & Deli, Island Pizza, Jerry’s Foods, Macintosh Books & Papers, The Magic Bus, Pinocchio’s Original Italian Ice Cream, Sanibel Café, Sanibel Deli, SCCF (Sanibel-Captiva Conservation Foundation), The Shack, and Whitney’s Bait & Tackle.

Sanibel School Annual Seahorse Festival – is tomorrow, Saturday, April 13 from 11 a.m. to 3 p.m. with food, fun, and games for the whole family. Free admission.

Sanibel & Captiva Islands Real Estate News

At our island Association of Realtors® Professional Development Committee on Tuesday, more of the 2024 Education calendar was finalized. Speakers at the upcoming April 25 General Membership Meeting will update us on “Protect Captiva”, while the speaker for the May meeting will be Dianna Wilson, General Manager of Island Water Association. Our committee is always looking for ways to update and continue training our members.

The 2024 SCIS (Sanibel & Captiva Islands Specialist) designation classes will be between May 29 and June 7, while the annual 14-hour Continuing Ed classes needed for license renewals are scheduled for the week of September 9.

Yesterday, the Association had a Caravan Meeting at The Community House with new listings, sales, and price changes announced. Following the meeting, nine Sanibel homes and one condo were open for viewing.

At the meeting, I chatted with several colleagues. Many commiserated about the lack of inquiries, showings and sales. Most don’t think we will see much improvement until fall or when the island has more vacation accommodations available. The latest report from the Chamber of Commerce is that island accommodations (Sanibel & Captiva) are back to 17% of what was available pre-Ian. Recovery continues albeit slowly.

Our CEO also announced that our next meeting could be back in our Association building (2353 Periwinkle Way). Restoration of that structure and our office spaces there are almost complete. Fingers crossed that our April membership meeting can be back there (nearly 19 months after Hurricane Ian).

He also encouraged attendees to take a free Continuing Education webinar offered by Florida Realtors: “Understanding Buyer Broker Agreements”. These classes are a great way to stay up to date on how the real estate business is changing. They are popular with six more scheduled: May 14 and 22, June 18, July 23, Oct 22, and Nov 5. The instructors (Steven David, Cynthis DeLuca, Patti Ketchum, and Caroline Boland) are all top-notch!

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

Along with less traffic, there also were fewer sales posted this week, on Sanibel, just one condo and four homes. No sales on Captiva.

Sanibel & Captiva Islands Multiple Listing Service Activity Apr 5‑12

Sanibel

CONDOS

3 new listings: Sanibel Siesta #103 2/2 $925K, Sanibel Moorings #741 2/2 $998,900; Lighthouse Pointe 215 3/2 $1.599M.

2 price changes: Tantara #202 2/2 now $949K, St Croix #4 2/2 now $1.699M.

1 new sale: Sanibel Siesta #605 2/2 listed at $875K.

1 closed sale: Sanibel Shores #B2 1/1 $549K.

 HOMES

7 new listings: 1215 Periwinkle Way 1/1.5 $495K, 9263 Dimmick Dr 3/2 $799K, 9126 Mockingbird Dr 3/2 $859,999; 2105 Sunset Cir 3/2 $1.125M, 1103 Schooner Pl 4/3 $1.65M, 5435 Osprey Ct 4/3.5 $2.8M, 906 Snowberry Ln 4/4.5 $5.75M.

10 price changes: 1586 Century Ct 3/2.5 now $945K, 9247 Dimmick Dr 3/2 now $1.075M, 5414 Osprey Ct 3/3 now $1.387M, 1241 Junonia St 4/3 now $1.395M, 1438 Albatross Rd 3/2.5 now $1.69M, 1365 Jamaica Dr 3/2.5 now $1.695M, 815 Birdie View Pt 3/3 no1 $1.849M, 2960 Wulfert Rd 5/5.5 now $3.289M, 408 Bella Vista Way E 4/4 now $3.5M, 4731 Rue Belle Mer 5/5.5 now $7.995M.

4 new sales: 2005 Mitzi Ln 2/2 listed at $794.5K, 1139 Seagrape Ln 3/2 listed at $1.1M, 4428 Waters Edge Ln 3/2.5 listed at $1,699,900; 4179 Dingman Dr 4/4 listed at $1.999M.

11 closed sales: 657 Cardium St 2/2 $515K, 657 Rabbit Rd 3/2 $750K, 5303 Umbrella Pool Rd 3/2.5 $979K, 211 Southwinds Dr 3/3 $1.05M, 2612 Coconut Dr 3/2 $1.05M, 4171 Dingman Dr 3/3 $1.2M, 3302 Twin Lakes Ln 3/2.5 $1.218M, 5436 Shearwater Dr 3/3.5 $2.1M, 2871 Wulfert Rd 4/4 $2.24M, 1283 Isabel Dr 3/2 $2.5M, 4681 Rue Belle Mer 3/3.5 $4.25M.

LOTS

Nothing to report.

Captiva

CONDOS

No new listings.

2 price changes: Lands End #1659 2/2 now $1.595M, Captiva Shores #6C 2/2 now $1.75M.

1 back-on-market: Beach Homes #13 4/4.5 $6.25M.

No new or closed sales.

HOMES & 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.

Enjoy your weekend, Susan Andrews aka SanibelSusan

As we wrap up another mostly sunny blue-sky week on the islands, those with family and friends up north likely have been watching the results of their recent cold weather and spring snowstorms. We wish for a quick recovery to those still without power.

Here on sunny Sanibel, our fallout from those storms was a brief shower Wednesday night, then temperatures dipping down into the 60’s/70’s. Not to worry, daytime highs here should be back into the 80’s (degrees F) next week. Meanwhile, it still is post-hurricane paradise with more noticeable recovery progress. Our lighthouse still wearing a protective coat!

Sanibel School Seahorse Chorale Receives “Gold”

Islanders were proud this week to hear that The Sanibel School Seahorse Chorale received a “gold” rating for their performance at Carnegie Hall on Monday night. Founded in 2016 by school Music Director Joey Giangreco, this middle school choir, has performed at Disney, but earning their way to the most famous stage in the world, especially following the turmoil following Hurricane Ian, made this a trip of a lifetime for these students and their chaperones. Their ambitious fundraising efforts to make the trip were supported by many.

Thanks to proud parent Melissa Halliburton for allowing me to share her photos, which first show the singers at sound-check, then after their performance, followed by Mr. Giangreco holding their award, which is the highest possible from this prestigious stage. Congratulations to all!

Sanibel Events & Openings

Ding Darling Visitor & Education Center – reopens tomorrow, Saturday April 6, after a temporary closure to complete post-hurricane renovations. It is free to the public Saturdays through Thursdays (closed Fridays) from 9 a.m. to 4 p.m.

More “Ding” Darling Fun – Solar Eclipse Celebration – Monday, April 8 from 2:30 to 3:30 p.m. at The Roost with speaker from Florida Gulf Coast University, chance drawing, moon pies, viewing of the new Roving Ranger, & eclipse watching with free pair of ISO 12312-2 certified eclipse glasses.

Sanibel Public Library – Solar Eclipse Viewing – starting at 1 p.m. with eclipse glasses available to use during the viewing. Peak is expected around 3 p.m.

Sanibel Community House – Arts & Crafts Fair – Sunday, April 7, from 9 a.m. to 2 p.m. Talented post office artist, Laura, will be there.

Wickies Lighthouse Restaurant – at 362 Periwinkle Way, opened Tuesday, April 2. They serve breakfast from 7:30 to 11 a.m., lunch from 11 a.m. to 4 p.m., and dinner from 4 to 9 p.m. Menus on-line at www.WickiesLighhouseRestaurant.com.

More on NAR’s Proposed Litigation Settlement

Like politics, if a subject or event makes good reading, journalists and newscasters will continue to exploit it. So… Realtors® like my team continue to get questions about the National Association of Realtors® (NAR) Proposed Settlement, particularly as more articles come out about it.

My favorite is when Barbara Corcoran said that “it’s not a big deal”, but “the settlement has resulted in “total confusion” across the real estate industry.”

Maybe a few words from Florida Realtors® 2024 President and my friend Gia Arvin will help clear up some confusion. She said the proposed settlement would not impact the important work Realtors® continue to do statewide and nationally. “As we absorb the announcement from the National Association of Realtors® regarding this proposed settlement, Florida Realtors® looks forward to continued opportunities for our members to provide their expertise and valued services to help consumers through the complex, challenging and ever-changing homebuying and home-selling process.”

The settlement stems from the Sitzer-Burnett class-action lawsuit that was filed in federal court by a group of Missouri home sellers against NAR and other defendants, including Anywhere, Berkshire Hathaway HomeServices, Keller Williams and Re/Max. The plaintiffs claimed commission rates were inflated due to multiple factors, including cooperative compensation. In October, a jury ordered the defendants to pay nearly $1.8 billion.

Interim NAR CEO Nykia Wright said the settlement achieves two organization goals: preserving consumer choice and protecting members. “Ultimately, continuing to litigate would have hurt members and their small businesses,” Wright said. “While there could be no perfect outcome, this agreement is the best outcome we could achieve in the circumstances. It provides a path forward for our industry, which makes up nearly one-fifth of the American economy, and NAR. For over a century, NAR has protected and advanced the right to real property ownership in this country, and we remain focused on delivering on that core mission.” In addition to release from liability, the proposed settlement includes:

Compensation offers moved off the MLS: NAR has agreed to implement a new rule prohibiting offers of compensation on the MLS. Offers of compensation could continue to be an option consumers can pursue off-MLS through negotiation and consultation with real estate professionals. And sellers can offer buyer concessions on an MLS (for example—concessions for buyer closing costs). This change will go into effect mid-July 2024.

Written agreements for MLS participants acting for buyers. NAR has long encouraged members to use written agreements because they help consumers understand exactly what services and value will be provided, and for how much. The settlement provides that MLS participants working with buyers must enter into written representation agreements with those buyers. This change also will go into effect mid-July 2024.

Settlement payment: NAR would pay $418 million over approximately four years.

NAR continues to deny any wrongdoing: NAR has long maintained that cooperative compensation and current policies are good things that benefit buyers and sellers. They promote access to property ownership. With this settlement, NAR is confident that its members can still achieve all those goals.

8th Property Insurer Enters Florida Market

The below article by Amy Connolly was posted yesterday on Florida Realtors®:  “The Florida Office of Insurance Regulation’s (OIR) said the state’s insurance market is continuing to strengthen with more carriers.

“TALLAHASSEE, Fla. – Another property and casualty insurer was recently approved to enter Florida’s insurance market, bringing a total of eight new insurers following legislative reforms aimed at stabilizing the market, state insurance regulators said Wednesday.

“The Florida Office of Insurance Regulation (OIR) said Ovation Home Insurance Exchange, the most recent approval, joins Manatee Insurance Exchange, Condo Owners Reciprocal Exchange, Orange Insurance Exchange, Orion180 Select Insurance Company, Orion180 Insurance Company, Mainsail Insurance Company and Tailrow Insurance Companies.

“”Florida’s insurance market continues to strengthen, showing signs recent legislation is having positive impacts to the property insurance market,” Insurance Commissioner Michael Yaworsky said. “OIR remains steadfast in our efforts to stabilize Florida’s insurance market by implementing legislative reforms and recruiting more insurers to the state. We look forward to continuing this work and promoting a competitive market for policyholders.”

“OIR also approved the acquisition of Florida domestic property and casualty reciprocal insurer, Trusted Resource Underwriters Exchange, to allow the existing company to grow its footprint in the state and expand its underwriting capacity. As a result of OIR’s approval of the acquisition, more than $1.25 billion of capital is being invested into Florida’s property and casualty insurance market, the agency said.

“OIR officials also said Citizens Property Insurance Corporation is showing improvement in its financial strength over the previous years. Citizens’ surplus increased by approximately 17.5% from previous years. Citizens posted a net income in 2023 of $746 million compared to a loss of $2.2 billion in 2022. Additionally, Citizens’ combined ratio improved from the previous year from 204.4% to 59.5%.

“State insurance regulators said they hope to see a continued interest from authorized insurers in the Citizens depopulation program. So far this year, OIR has approved 13 companies to assume more than 354,000 policies from Citizens. In 2023, more than 275,000 policies were assumed from Citizens, reducing Citizen’s exposure by more than $113 billion.

“The OIR also said Florida’s domestic property insurance companies produced a combined net underwriting in 2023 that almost broke even, a marked improvement from losing over a billion dollars in the past three consecutive years.  When combined with investments, the domestic carriers showed a net positive income in 2023 for the first time since 2016, officials said.

“OIR said 2023 year-end data shows a “much lower degree of uncertainty in the property insurance market,” because insurers reported lower loss reserve development. A loss reserve is the amount the insurer believes that claims will cost. At periodic points in time, an insurer goes back and evaluates how much those claims actually cost and uses that information to inform reserves going forward.

“From 2022 to 2023, Florida domestic insurers, including Citizens, have reported a 44.8% decrease from $772 million to $398 million in loss reserve development at the two-year look-back period and a 28% decrease from $224 million to $161 million at the one-year mark.

“Additionally, OIR said the Florida Hurricane Catastrophe Fund rates are decreasing for participating insurers by a statewide average of 7.38%. The rate decreases are in part based on modeled loss cost indications, even while exposure grows, officials said.”

Sanibel & Captiva Islands Real Estate News

The local Association of Realtors® did not meet again this week, but yesterday our members were invited to a Florida Realtors® District 5 Home Grown Advocacy Tour Event at the Naples Area Board of Realtors®.

Next week, our local Professional Development Committee will meet Tuesday morning. Then on Thursday April 11, there is a Sanibel/Captiva Caravan Meeting followed by Open House tour.

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

As “season” continues to wind down, there were nine new sales on Sanibel (two condos/seven homes). None on Captiva. Two other Sanibel properties (one condo and one home) previously under contract, are now back on the market.

During the last week, 19 Sanibel properties also had price reductions (four condos,13 homes, and two lots). There also were ten closings on Sanibel (two condos and eight homes) and two on Captiva (both condos).

Last year at this time, 41 Sanibel condos had closed/compared to 22 now; and 102 Sanibel homes had closed compared to 51 this year. Similarly, seven Sanibel lots sold last year through April 5, compared to five this year.

It is an interesting market to follow, and difficult to predict. Usually when snowbirds are back home, the market here softens for a few months. This being an election year probably further complicates that, but I think there are buyers waiting for just the right property at the right price. If they don’t need it until next winter, it could again be a quiet summer.

On the commercial side, Driftwood Inn, which has four units (nightly rental) went under contract this week. The asking price is $2.595M.

Sanibel & Captiva Islands Multiple Listing Service Activity Mar 29‑Apr 5

Sanibel

CONDOS

4 new listings: Sanibel Arms #D2 1/1 $375K, Mariner Pointe #1023 2/2 $599K, Sanibel Moorings #1422 2/2 $875K, Shell Island Beach Club #7B 2/2 $995K (SanibelSusan listing).

4 price changes: Beach Road Villas #104 2/2 now $580K, Oceans Reach #4D1 2/2 now $860K, Sanibel Sunset #102 3/2 now $1.689M, Tigua Cay #487 3/3.5 now $2.1M.

1 back-on-market: Gulfside Place #125 2/2 $1.895M.

2 new sales: Spanish Cay #C6 2/2 listed at $439K, Blind Pass #C201 2/2 listed at $599K.

3 closed sales: Island Beach Club #P1F 2/2 $728,626; Loggerhead Cay #181 2/2 $775K, Gulfside Place #208 2/2 $1.25M.

HOMES

4 new listings: 3180 Twin Lakes Ln 3/2 $1.21M, 1290 Par View Dr 3/3 $1.549M, 1272 Par View Dr 3/3.5 $2.395M, 761 Limpet Dr 3/2 $2.895M.

14 price changes: 9428 Moonlight 3/2 now $849K, 9126 Mockingbird Dr 32 now $859,999; 653 Oliva St 3/2 now $915K, 1615 Serenity Ln 3/2 now $929K, 1586 Century Ct 3/2.5 now $949K, 220 Palm Lake Dr 3/3 now $1.099M, 421 Lake Murex Cir 3/2 now $1.125M, 6090 Dinkins Lake Rd 3/3.5 now $1.295M, 3708 Agate Ct 3/3.5 now $1.37M, 3205 Twin Lakes Ln 3/2 $1.4M, 979 Whelk Dr 3/3 now $2.099M, 851 Angel Wing Dr 5/4 now $2.399M, 1318 Seaspray Ln 5/3.5 now $2.495M, 2287 Starfish Ln 4/4 now $2.5M.

1 back-on-market: 2969 Wulfert Rd 6/7.5 $3.195M.

7 new sales: 863 Rabbit Rd (1/2 duplex) 3/2 listed at $678.5K, 931 S Yachtsman Dr 4/3.5 listed at $948K, 1376 Sand Castle Rd 3/2 listed at $979K, 396 Lake Murex Blvd 3/2 listed at $1.1M, 440 East Gulf Dr 3/2 listed at $1.15M, 235 Daniel Dr 3/3 listed at $1.495M, 900 Almas Ct 4/4.5 listed at $2.15M.

8 closed sales: 2066 Wild Lime Dr 2/1 $650K, 6460 Pine Ave 3/2 $1M, 737 Vinca Way 3/2 $1M, 3212 Twin Lakes Ln 3/3 $1.1M, 1067 Sand Castle Rd 4/2 $1.225M, 920 Almas Ct 3/2.5 $1.519M, 840 Birdie View Pt 3/2.5 $1.85M, 1769 Venus Dr 3/2 $1.925M.

LOTS

No new listings.

2 price changes: 967 Fitzhugh St now $275K, 1757 Windward Way now $399.9K.

No new or closed sales.

Captiva

CONDOS

1 new listing: Lands End #1659 2/2 $1.6M.

No price changes or new sales.

2 closed sales: Lands End #1657 2/2 $1.25M, Captiva Beach Villas #B 3/2.5 $3.295M.

HOMES & 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.

The latest edition of the island “Real Estate Guide” was in today’s mail. Our ad is below.

Enjoy your weekend, Susan Andrews, aka SanibelSusan

It’s been another week of nice sunny breezy Florida weather which has meant more visitors and more traffic… all pieces of the puzzle in island restoration. The wind did a number on the protective materials around the lighthouse, but it looked fixed today. There, the gulf-side parking lot was full before noon, with shelling great. Beach lovers and windsurfers are out, and the islands busier than in many months.

During my Sanibel drive-around this morning, I noticed a few other things: First, I was looking for some spring blooms to photograph. Here are several beautiful Golden Rain trees, I spotted, including a couple of hurricane survivors.

Regarding post-storm improvements, I passed many contractors, landscapers, and delivery trucks, and many homes looking better, including more being raised, more demolished, more being repaired, and more new construction. I also smiled when I spotted this new mailbox, reminding me of the flamingoes that have been spotted here since the storm.

I also saw:

• Sand trucks working on beach restoration lined up on the former West Wind Inn site.
• Many new windows are in at Sand Pointe.
• New tropical roadside landscaping at Somerset.
• Another eagle returned to Rocks West (said a neighbor).
• Big turnout of pickleball players on the Sundial courts.

Below is info on some other posted announcements.

Events, Re-Openings & Other Plans

BIG ARTS Community Chorus Spring Concert – As an original member of the BIG ARTS Community Chorus (since 1992), I was disappointed not to participate in their session that is wrapping up with the spring concert next Friday, April 5 at 7 p.m. Unfortunately, with so many facilities not back in operation and traffic delays, our Association of Realtors® meeting times were rescheduled, conflicting with Chorus rehearsals which also were changed. Fingers crossed that all gets back to normal by fall. In the meantime, concert tickets are available on-line at https://bigarts.org/event/big-arts-community-chorus-spring-concert/

Captiva Civic Association – https://www.youtube.com/watch?v=xQXiizGLC0I to watch their 6-min Protect Captiva video with legal update, featuring interviews with:

• Jay Brown, President, Captiva Community Panel
• James Evans, CEO, SCCF
• Porter Goss, First Mayor, City of Sanibel
• Tony Lapi, President & Chairman, Sanibel Captiva Beach Resorts
• Richard Johnson, Mayor, City of Sanibel
• Ken Suarez, Chairman of the President’s Council, South Seas Island Resort
• Lisa Riordan, Member, Protect Captiva Steering Committee

The video chronicles why the Protect Captiva Coalition came into existence within the historical context of Sanibel and Captiva. It also features comments made by the Lee County Commissioners during hearings and meetings in 2023 as they discussed the approval of land use changes on Captiva.

Jensen’s Marina & Cottages – Jensen’s Twin Palms Resort & Marina posted they will open their doors for stays beginning June 29.

Sanibel Outlets – A Facebook post this week says: “News on Tanger Outlets just before Sanibel Causeway…. From the Lee County Economic Development Council. The owner of the Sanibel Outlet Mall Dahlmann Properties met with the county last week and discussed plans for renovation. Dahlmann Properties has engaged a renowned architect from Houston that has global experience in designing mixed used projects. He said that the project will include an art center, retail shops, dining, a courtyard, affordable housing, and upscale condos. It will be like a small-scale Mercado like in Naples. They expect to complete the permitting process this summer and begin construction in January (all subject to delays, of course). Since this doesn’t require and zoning changes, it should go through without a problem.”

Shalimar Beach Resort – Had their groundbreaking yesterday, 18 months to the day after Hurricane Ian destroyed it. Shalimar now is a vacant lot and will be a construction site for the next 18 months. It first opened in 1959. The resort will retain its 33 rooms but on a smaller footprint because of updated Federal guidelines. The hotel building will have 21 units and there will be ten 1-bedroom cottages and two 2-bedrooms. Stevens Construction is handling the project which is expected to be ready for the 2025/2026 tourist season. (I saw another FB post this morning by Fox News which says, “John Lai, President of the Sanibel-Captiva Chamber of Commerce, provided an update on the current state of available hotel rooms on the islands, “We’re at 21% if you look at both Sanibel and Captiva right now. So, we are on pace to hit 25% by the end of this year.”)

Florida Realtors® Legal Webinar

Yesterday, I was one of nearly 8K Florida Realtors® on-line for their webinar titled “What You Need to Know About the NAR Settlement”. Presented by CEO Margy Grant and Chief Legal Counsel Juana Watkins, it covered the background on the lawsuit, its status, and resulting actions. Here are my takeaways:

The plaintiffs hired listing agents in Kansas City, MO to sell their homes in the MLS. They signed listings agreeing to pay commission upon their home sales with part of the commission shared with cooperating agents.

NAR (The National Association of Realtors®) and four brokerage defendants were sued in these MO lawsuits (plaintiff “Burnett” and ultimately the class) alleging:

• Commission rates are too high,
• Buyer brokers are paid too much, and
• NAR’s Code of Conduct and MLS Handbook along with corporate defendants’ practices lead to price fixing.

On October 31,2023, following an 11-day trial an 8-person jury in Kansas City found NAR and the other corporate defendants liable. $1.78B (automatically trebled $5.4B) Since that verdict more than 20 copycat lawsuits have been filed across the country. Some settled prior to trial, after trial and most recently by the following global settlement.

On March 15, 2024, NAR announced a proposed settlement agreement that would end litigation on claims brought on my home sellers related to broker commissions. The settlement will be filed with the Court in the coming weeks and is subject to Court approval. There is NO ADMISSION OF WRONGDOING BY NAR as a part of this settlement.

Key elements:

• Resolve claims against NAR, over $1M NAR members, state/territorial and local Realtor® associations, association-owned MLSs, and all brokerage entities with a NAR member as principal that had a residential transaction volume in 2022 of $2B or below.
• Provides a mechanism for almost all brokerage entities that had a residential transaction volume in 2022 over $2B to obtain releases if they chose to use it.

Industry changes:

• Requires NAR as soon as practicable, but in no event later than the date of Class Notice, to implement the listed practice changes.
• Most changes relate to the Offer of Compensation in the MLS.
• Specifically, how the Offer of Compensation is COMMUNICATED (OFF MLS).

What will occur regarding offers of compensation in MLS?

• NAR, boards, and MLSs will eliminate and prohibit the requirement that listing brokers (or sellers) make offers of compensation to buyer brokers/representatives in the MLS. (They can make offers of compensation outside the MLS.)
• Prohibits Realtor® MLS participants and other real estate agents from making an offer of compensation to buyer brokers in the MLS.

After these changes, how can a buyer broker be paid?

• Seller may agree to pay the buyer broker.
• Listing broker/brokerage may agree to pay a portion of their compensation to the buyer’s broker.
• Seller may pay buyer concessions. (Used by buyer toward their closing costs.)
• Buyer may pay buyer’s broker (if not prohibited by their lender).

Florida Realtors® is working on a co-broke compensation agreement to provide options.

Florida Realtors® listing agreement forms were updated March 19 to reflect clarification of NAR policy.

Always disclose that “Broker commissions are not set by law and are fully negotiable.”

Deadline for changes related to offer of compensation is mid-July 2024, whether the settlement proposal is final or not . There will be new rules that require MLS participants and Realtors® working with buyers must enter into a written agreement with a buyer, before the buyer tours any home, must specify and conspicuously disclose buyer broker compensation.

Florida Realtors® forms available:

• Buyer broker agreement
• Showing agreement
• Buyer retainer agreement (new as of March)

These forms will likely be updated to reflect the settlement terms yet to be announced. The tentative date for more changes in FL is May 31, 2024, well in advance of the mid-July requirement. Stay tuned…

Sanibel & Captiva Islands Real Estate News

The local Association of Realtors® did not meet this week. Their next Caravan Meeting is Thursday April 11.

The team and I were busy this week with contractors, a new listing, and more. It was great to have less traffic on the causeway this morning (Good Friday), as daytime traffic has been challenging since last weekend.

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

Sanibel had 25 price reductions this week and just five new sales, both indicators that “season” is wrapping up.

On the commercial side, there also were two price reductions, both posted today: 1544 Periwinkle Way now $1.45M and gas/service station at 1067 Bailey Rd now $2.85M.

Sanibel & Captiva Islands Multiple Listing Service Activity Mar 22‑29

Sanibel

CONDOS

2 new listings: Cottage Colony West #140 1/1 $575K, Heron at The Sanctuary II #1-2A 3/2.5 $989K.

7 price changes: Captains Walk #B5 2/1 now $454K, Tennisplace #C34 2/1.5 now $539K, Blind Pass #B211 2/2 now $560K, Sunset South #12 C 2/2 now $600K, Sandpiper Beach #103 2/2 now $765K, Somerset #B101 3/3.5 now $1.95M, Tamarind #B302 3/2 now $2.689M.

1 back-on-market: Sunset South #9B 2/2 $599.9K.

2 new sales: Oceans Reach #4B4 1/1 listed at $689K, Gulfside Place #125 2/2 listed at $1.895M.

3 closed sales: Island Beach Club #220A 2/2 $540K, Bandy Beach #E101 3/2 $800K, LaPlaya #2A 3/2 $1M.

HOMES

6 new listings: 9003 Mockingbird Dr 5/4 $959K, 1376 Sand Castle Rd 3/2 $979K, 1139 Seagrape Ln 3/2 $1.1M, 1550 Wilton Ln 3/2.5 $1.148M, 519 Kinzie Island Ct 4/4.5 $2.899M, 4443 Waters Edge Ln 4/2.5 $7.49M.

16 price changes: 970 Greenwood Ct S 3/2.5 now $799K, 653 Oliva St 3/2 now $915K, 931 S Yachtsman Dr 4/3.5 now $948K, 1813 Long Point Ln 4/2.5 now $950K, 3990 Coquina Dr 3/2 now $950K, 1586 Century Ct 3/2.5 now $975K, 4797 Rue Helene 3/2 now $1.25M, 1018 S Yachtsman Dr 3/3 now $1.289M, 742 Nerita St 3/2 now $1.35M, 5542 Shearwater Dr 3/2.5 now $1.397M, 3205 Twin Lakes Ln 3/2 nor $1.425M, 2711 Wulfert Rd 4/4.5.5 now $1.798M, 1507 Angel Dr 3/2.5 now $2.295M, 1052 Whisperwood Way 3/3 now $2.5M, 2567 Coconut Dr 3/2 now $2.549M, 2960 Wulfert Rd 5/5.5 now $3.449M.

1 back-on-market: 1251 Par View Dr 3/2.5 $790K.

3 new sales: 1105 Skiff Pl 3/2 listed at $749K, 6141 Henderson Rd 3/3 listed at $989K, 9020 Mockingbird Dr 3/2 listed at $1.595M.

6 closed sales: 998 Greenwood Ct N 3/2.5 $670K, 3312 Saint Kilda Rd 3/2 $680K, 198 Southwinds Dr 3/2 $1.19M, 4279 Gulf Pines Dr 4/3 $1.2M, 5298 Umbrella Pool Rd 3/2.5 $1,382,500; 558 N Yachtsman Dr 2/3 $1.8M.

LOTS

No new listings.

2 price changes: Bowmans Beach Rd 25 now $160K, Bowmans Beach Rd 27 now $175K.

No new or closed sales.

Captiva

CONDOS

1 new listing: Sunset Captiva #103 2/2 $1.85M.

No price changes.

4 new sales: Bayside Villas #4220 1/2 listed at $610K, Sunset Captiva #204 2/2 listed at $1.9M, Beach Homes #16 4/4 listed at $5.5M, Beach Homes #13 4/4.5 listed at $6.25M.

No closed sales.

HOMES

No  new listings.

1 price change: 11517 Wightman Ln 4/3 now $2.999M.

1 back-on-market: 11516 Wightman Ln 5/4.4 $3.499M

No 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.

Enjoy your Easter weekend, Susan Andrews, aka SanibelSusan

Winter, spring… it often is all about the same here on Sanibel where it has been another week of wonderful weather. I never get tired of driving with my sunroof open, hearing the birds chirping overhead. Many osprey nests have chicks now so there is plenty of squawking if they spot you passing by.

A message issued yesterday afternoon by Sanibel’s City Manager offered the below weather update, which proved to be true. Rain began late yesterday and continued off-and-on through the night and today. There has not been a day like this in a long time, so vegetation is benefitting from the free drink.

Thankfully, the forecast says, it should be warm and sunny again by tomorrow afternoon – maybe with many shells rolling in. There were only a handful of vehicles at Lighthouse Beach this morning and the lighthouse itself is still shrouded in a construction cloak while restoration continues there.

Meanwhile, the City reports are that the beach renourishment project at Tarpon Bay Beach was completed ahead of schedule so that access and the Trost Lot are reopened.

“From the National Weather Service (NWS):

“…a widespread rain event will continue to expand from the western Gulf coast Thursday afternoon, eastward across large portions of the South and Florida Thursday night into Friday. This widespread heavy rain will then push northward along much of the Eastern Seaboard Friday into Saturday. Some of the heaviest rainfall totals are expected across South Florida Friday afternoon into early Saturday, with the potential for urbanized flash flooding, especially along the southeast coastal areas of the state.”

Sanibel & Captiva Islands Association of Realtors®

A car mishap resulted in me missing the local Association of Realtors® luncheon meeting yesterday, but I was back at my computer later to listen to a Zoom presentation by the Royal Palm Coast Realtor® Association where the team and I also are members. (The Royal Palm Coast Association was formed when the Realtor® Association of Greater Fort Myers and The Beach merged with the Cape Coral Association of Realtors® in 2016.)

Their Board leadership team spoke on what they are doing because of the recent announcement by NAR (National Association of Realtors®) on the class action lawsuit regarding real estate commissions. Like the Sanibel & Captiva Islands Association of Realtors®, they are working hard to keep their members informed and educated.

Next week Florida Realtors has scheduled a legal webinar on what their members need to know about the NAR settlement. Some top FL Realtors® instructors Steven David and Patty Ketchum also are scheduled to teach classes on Buyer Broker Agreements.

I have read the case details and have followed the often-misleading national news about this NAR settlement. My comments and opinion are below.

SanibelSusan Says “Real Estate Commissions/Compensations & The Sky Are Not Falling”

The recently announced NAR settlement outlines three policy changes:

1. Buyer Brokers will be required to have an Agency Agreement with each Buyer. (We already do this.)
2. Buyer and Seller Broker compensations must be negotiated in separate agreements. (This is new.)
3. NAR Multiple Listing Systems will be prohibited from publishing Seller offers of Buyer Broker compensation. (This is ridiculous. What is wrong with full disclosure?)

What is rumor:

• That a certain percentage or commission amount is eliminated. (There is no language on what a commission can or should be, they have always been and will continue to be negotiable.)
• Property prices will go down. (Why? Sale prices are a function of supply and demand.)
• This is the end of Buyer agents. (I cannot imagine that Buyers will want to purchase without their own representation. Buyers and Sellers have always been able to select their representatives. It will continue.)
• These changes will result in Selling agents representing both sides of a transaction. (That may happen occasionally, but most Buyers will want to continue to choose their own representative, Nothing prevents or should prevent them from purchasing a property their Realtor has listed.)
• That this NAR settlement is a “done deal”. (While both parties have agreed, any outcome from a Class Action Lawsuit must be approved by the court. We have not heard the end of this yet. So far, it looks like just the courts and attorneys are benefiting.)

I have often said that doing business in a small community like the islands is better than in the “real world”. Our agents routinely cooperate with each other. We rarely have complaints from colleagues or the public because if we notice that someone makes a mistake, we help them.  We share knowledge, we want our work to be appreciated, and our profession admired for its honesty.

There is truth to the saying “a Realtor® job is never done!” Hurricane Ian proved that in spades! Most Realtors® are in the business because they care and want to help people.

I am thankful to not only live, but to work in paradise in Florida where the listing and sales contracts protect all parties while providing agency representation and disclosure of compensation.

Sanibel & Captiva Islands Real Estate News

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

On the commercial side, we just listed a condo in Lime Tree Center at 1640 Periwinkle Way which is a 5-unit single-story building just a couple of steps up from ground-level. The building has a new roof and new interior. Unit #4 listed at $399K is ~987 sq. ft. under air.  Formerly an accounting office, its central island location and easy access also suits other businesses.

Sanibel & Captiva Islands Multiple Listing Service Activity Mar 15-22

Sanibel

CONDOS

7 new listings: Lake Palms #5 2/2.5 $579K, Sanibel Moorings #611 2/2 $849K, Nutmeg Village #104 2/2 $999K, Sanibel Surfside #135 2/3 $1.15M, Sunward #102 2/2 $1.2M, Heron at The Sanctuary II #3-B 3/2.5 $1.398M, St Croix #4 2/2 $1.8M.

7 price changes: Sanibel Moorings #1411 1/1 now $599K, Blind Pass #C201 2/2 now $599K, Blind Pass #D204 3/2 now $779K, Shell Island Beach Club #5D 2/2 now $1.089M, Sundial #L402 2/2 now $1.325M, Sundial #R305 2/2 now $1.419M, Chelsea Place #2 4/4 now $3.5M.

2 new sales: Gulfside Place #204 2/2 listed at $1.25M, Pointe Santo #A27 3/2 listed at $1.795M.

2 closed sales: Sundial #D309 1/1 $425K, Sunset South #1A 2/2 $570K.

HOMES

10 new listings: 653 Oliva St 3/2 $925K, 9470 Balsa Ct 3/2 $1.05M, 1133 Schooner Pl 5/2 $1.2M, 2499 Harbour Ln 3/3 $1.595M, 6424 Pine Ave 2/2 $1.595M, 1310 Par View Dr 3/3 $1.649M, 2474 Wulfert Rd 4/5.5 $2.498M, 1044 Whisperwood Way 4/4.5 $2.8M, 1245 Buttonwood Ln 6/5 $10M, 4405 West Gulf Dr 6/6.5 $38M.

11 price changes: 530 Piedmont Rd 3/2 now $699K, 1806 Ibis Ln 3/2 now $755K, 970 Greenwood Ct S 3/2.5 now $809K, 9226 Kincaid Ct 3/2 now $949M, 1319 Par View Dr 3/2.5 now $1.299M, 1202 Sand Castle Rd 4/2.5 now $1.539M, 729 Sand Dollar 4/3 now $1.345M, 6090 Dinkins Lake Rd 3/3.5 now $1.42M, 4179 Dingman Dr 4/4 now $1.999M, 2525 Lands End Pl 4/3 now $2.1M, 1828 Buckthorn Ln 4/4.5 now $2.2M.

2 back-on-market: 2479 Blind Pass Ct 3/2 $999.9K, 1025 S Yachtsman Dr 4/3 $2.925M.

7 new sales: 5303 Umbrella Pool Rd 3/2.5 listed at $979K, 2612 Coconut Dr 3/2 listed at $1.05M, 4171  Dingman Dr 3/3 listed at $1.299M, 696 Durion Ct 3/2.6 listed at $1.495M, 969 Whelk Dr 3/2.5 listed at $1.495M, 1283 Isabel Dr 3/2 listed at $2.82M, 2969 Wulfert Rd 6/7.5 listed at $3.195M.

7 closed sales: 3902 Coquina Dr 3/2 $521K, 1448 Albatross Rd 3/2 $775K, 6128 Starling Way 3/3.5 $1.5M, 2236 Starfish Ln 3/3 $1.65M, 4415 Gulf Pines Dr 3/3 $1.675M, 848 Birdie View Pt 4/3.5 $2.3425M, 707 Anchor Dr 3/2.5 $2.6M.

LOTS

No new listings.

5 price changes; 1757 Windward Way now $415K, 5398 Osprey Ct now $419K, 355 Cowry Ct now $512K, 3730 Coquina Dr now $525K, 2807 West Gulf Dr now $869K.

No new or closed sales.

Captiva

CONDOS

1 new listing: Marina Villas #603 2/2 $950K.

No price changes, new or closed sales.

HOMES

1 new listing: 11516 Andy Rosse Ln 6/6 $2.85M.

1 price change: 16632 Captiva Dr 5/4 now $7.5M.

1 new sale: 11516 Wightman Ln 5/4.4 listed at $3.499M

No 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.

Enjoy your weekend, Susan Andrews, aka SanibelSusan

SanibelSusan has been back to home-sweet-home on the island since Sunday and it has been great to see more recovery progress just in the few days that I was away cruising. The main roadways on the bridges had already been open for some time before I left, but there has been obvious post-construction cleanup and work performed on the causeway islands themselves.

On Sanibel itself, it was equally wonderful to see activity at the recently reopened 7-11 (1521 Periwinkle Way) near Mudbugs. Tahitian Gardens shopping center also has had many cars all week, as have the Olde Sanibel Shoppes at the intersection of Tarpon Bay Rd and Periwinkle. It is indeed progress to have more restaurants and shops open with visitors and locals supporting them.

Condo Reopenings

Blind Pass clubhouse 03-2024

Blind Pass Condominiums – Their newsletter posted today has some great news. While work continues at their ground-level units, Blind Pass is accepting reservations for 2^nd floor units beginning June 1. They also announced that their ribbon-cutting will be June 3 at 11:30 a.m. Their first resident owner is scheduled to move back in just a couple of weeks, while another owner was the first to vacation in their unit this week. Their clubhouse is about done with their rental staff available Mon-Fri from 9 a.m. to 4 p.m. or check out their website at www.blind-pass.com.

Sundial Beach Resort & Spa – A billboard just off island says that Sundial Resort also is again taking reservations (for stays beginning August 3). Their website is www.SundialResort.com for nightly reservations, while many units are also in off-site programs offering weekly reservations.

Sanibel & Captiva Islands Association of Realtors®

The local Association of Realtors® did not meet this week, but their March Membership meeting is next Thurs (Mar 25) at The Community House (11:30 a.m.). followed by a Caravan of Open Houses (noon to 3 p.m.) The meeting speakers will be a panel from our Affiliate member rental companies. Our Professional Development Committee has compiled a list of questions for them. Next week, I will post what they report to us.

Also, the Sanibel & Captiva Islands Association of Realtors® is looking forward to our Affiliate Trade Show next Wed at The Community House from 5 to 7 p.m. That is where our business members set up to market their companies to our Realtor® members. Those affiliates include accountants, appraisers, architects, attorneys, bankers, builders, cleaners, consultants, decorators, inspectors, insurance providers, non-profits, roofers, rental companies, title companies, & more. They are key to the success of our Association and businesses.

Sanibel & Captiva Islands Real Estate News

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

On the commercial side, The Driftwood Inn a 4-unit nightly rental at 711 Donax St in Sanibel Shores was listed this week for $2.595M.

This week, SanibelSusan Realty posted a new listing in Sundial East. The Sellers were here vacationing and left today. Teammate Dave showed homes a couple days this week, including today. We both also viewed properties for owners thinking of selling, while teammate Lisa continues (every weekend) to update our island-wide inventory lists. If you would like an updated list emailed or mailed to you, just send us an email or text, or call.

Now that 2024 first quarter is wrapping up, I added a couple of lines to the summary tables below. Since 2022, before Hurricane Ian hit, was a very good year for sales, I added the activity from Jan 1 to Mar 15, 2022 and also added the activity from the same period last year. It offers a comparison of how sales year-to-date compare with just before and just after the storm.

Digging into the Sanibel data illustrates how home buyers after the storm, mostly purchasing property that needed restoration, while condo buyers after the storm, were buying larger units.

Today, the island real estate markets continue to adjust. At the current rate of sales, Sanibel available inventory includes 16 months of condos, 14 months of homes, and two years of lots. Captiva inventory includes three years of condos,16 months of homes, and anyone’s guess on lot sales.

More condos likely will come on the market as complexes reopen, in the meantime, there are plenty of good choices for those looking to purchase.

Sanibel & Captiva Islands Multiple Listing Service Activity Mar 8‑15

Sanibel

CONDOS

6 new listings: Sanibel Moorings #1441 1/1 $659K, Sand Pointe #122 2/2 $849K, Pointe Santo #C21 2/2 $999K, Shell Island Beach Club #5D 2/2 $1.189M, Sundial #R401 2/2 $1.295M (SanibelSusan listing), Shorewood #A4 5/4 $3.999M.

1 price change: Heron at The Sanctuary #1-1B 3/3.5 now $999K.

4 new sales: Mariner Pointe #842 2/2 listed at $679K, Loggerhead Cay #181 2/2 listed at $875K, Sundial #A408 2/2 listed at $995K, Sandpiper West #4 3/2.5 listed at $2.55M.

2 closed sales: Sundial #G206 1/1 $575K, Sand Pointe #116 2/2 $860K.

HOMES

7 new listings: 5303 Umbrella Pool Rd 3/2.5 $979K, 838/840 Rabbit Rd (duplex) 4/2 $999K, 753 Nerita St 3/2.5 $1.05M, 2612 Coconut Dr 3/2 $1.05M, 5305 Ladyfinger Lake Rd 3/3 $1.068M, 851 Angel Wing Dr 5/4 $2.449M, 4257 West Gulf Dr 4/4.5 $12M.

8 price changes: 1196 Sand Castle Rd 2/2 now $800K, 4171 Dingman Dr 3/3 now $1.299M, 1646 Middle Gulf Dr 3/3 now $1.385M, 828 Sand Dollar Dr 4/3 now $1.75M, 815 Birdie View Pt 3/3 now $1.899M, 417 Bella Vista Way E 4/4 now $2,499,900; 2255 Troon Ct 4/5.5.5 now $2.95M, 1500 Angel Dr 4/3.5 now $3.5M.

1 back-on-market: 2711 Wulfert Rd 4/5.5.5 $1.998M.

5 new sales: 4268 Gulf Pines Dr 2/2 listed at $695K, 2479 Blind Pass Ct 3/2 listed at $999.9K, 932 Whelk Dr 3/3 listed at $1.15M, 3302 Twin Lakes Ln 3/2.5 listed at $1.244M, 9436 Shearwater Dr 3/3.5 listed at $2.25M.

2 closed sales: 1617 Sand Castle Rd (1/2 duplex) 3/3 $640K, 2745 Wulfert Rd 3/3.5 $1.998M.

LOTS

1 new listing: Lot 16 Gulf Pines Dr $749K.

1 price change; 2807 West Gulf Dr now $859K.

1 new sale: 2933 Wulfert Rd listed at $475K.

No closed sales.

Captiva

CONDOS

1 new listing: Beach Homes #16 4/4 $5.5M.

No price changes, new or closed sales.

HOMES

No new listings, price changes, or new sales.

1 closed sale: 16321 Captiva Dr 5/4 $3,347,500.

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.

Enjoy your weekend & St Patrick’s Day, Susan Andrews, aka SanibelSusan

Greetings from the Southern Caribbean Sea

Aruba

This is SanibelSusan’s 707th Friday Sanibel & Captiva real estate blog, covering a period of 13-1/2 years. Today is the first one in March that was not prepared on Sanibel.

My real estate pal, Mary Lou, had a special birthday this week, one deserving of a celebratory vacation.

Island recovery this winter, including lack of accommodations, has made it a unique time and has affected business, so she agreed to go on a birthday cruise to the ABC islands. We are aboard the Celebrity Reflection, left Ft. Lauderdale Sat, toured Aruba, Bonaire, and Curaçao, and are now heading back to Ft. Lauderdale.

Today’s technology has made it easy for both of us to continue business from afar, though we also have help at home who have assisted this week with showings and property visits.

If you are wondering, the ABC islands continue to have high temps year-round (mid 80’s F when we were there), humid, arid, and quite breezy. Our excursions were fun, the islanders happy and relaxed, like on our islands. These Dutch islands also are very clean, with beautiful beaches and many natural preserved areas.

Two Shell Events

If you are on the island now or tomorrow, extra traffic is expected from two shell events:

The 2024 Sanibel-Captiva Shell Show is today and tomorrow at the Marriott Sanibel Harbor Resort and Spa which is just before the causeway.

From 9 a.m. to 4 p.m. both day, this event is larger this year with scientific and artistic exhibits, as well as many vendors with shell-related items.

Meanwhile at the Sanibel Community House, the shell crafters are hosting the 87th Annual Shell Festival which began Thurs and runs both today and tomorrow from 9 a.m. to 3 p.m.

Florida Legislative Session

I just received a thank you email from Florida Realtors 2024 President, Gia Arvin. It included the below summary which may interest you.

”Just a few minutes ago, the Florida Legislature ended its annual 60-day legislative session, bringing numerous victories for our profession, our customers, property owners and the

With Gia in Orlando at the Mid-Winter Business Meetings Jan 2024

communities where we live and work. At the center of our advocacy success was the Realtor voice, which not only helped move the needle on some of our key issues but also helped us achieve notable state budget wins for affordable housing and the environment.

”One of our largest advocacy successes this year was $100 million to fund the Hometown Heroes Housing Program. Since 2021, this highly successful first-time homebuying program has helped more than 14,000 hard-working Floridians buy their first home. This additional funding will help thousands more when the money becomes available after July 1 of this year.

“In addition to the Hometown Heroes Housing funding, we also achieved other significant legislative wins such as:

• $408 million for state and local programs that increase affordable housing options for Floridians.
• $1.2 billion for water quality and environmental projects to keep Florida clean and beautiful.
• $230 million to help Floridians harden their homes and condominiums against storms while saving on insurance premiums.
• Increased transparency and availability of condominium and HOA documentation.
• A decrease in Floridians’ property insurance premiums.
• The creation of a seller flood disclosure so buyers can make informed decisions and reduce post-closing disputes.
• A streamlined process for sheriffs to remove squatters occupying residential property.

“This was a tremendously successful legislative session, and I can’t thank you enough for lending your voice and your time to advocate on behalf of the Realtor® profession.”

Sanibel & Captiva Islands Real Estate News

The local Association of Realtors® Caravan of Open Houses was yesterday at The Sanibel Library. Seven Sanibel homes and one on Captiva were open for viewing following  the meeting,

Below, with data from the islands MLS, are summary tables of the island residential sales statistics, followed by the MLS action reported this week.

Sanibel & Captiva Islands Multiple Listing Service Activity Mar 1-8

Sanibel

CONDOS

1 new listing: Sundial #A408 2/2 $995K.

1 back on market: Sunset South #12D 2/2 $620K.

5 price changes: Spanish Cay #C6 2/2 now $439K, Captains Walk #B5 2/1 now $459K, TennisPlace #C34 2/1.5 now $550K, Sundial #K403 2/2 $1.15M, Sandpiper West 3/2.5 now $2.55M.

5 new sales: Sundial #D312 1/1 listed at $498K, Sunset South #9B 2/2 listed at $599.9K, Loggerhead Cay #282 2/2 listed $844K, Sundial #N203 2/2 listed at $995K, Bandy Beach #E101 3/2 listed at $1.05M.

2 closed sales: Sanibel Siesta #501 2/2 $645K, Sanibel Siesta #402 2/2 $769.9K.

HOMES

10 new listings; 2005 Mitzi Ln 2/2 $794.5K, 5869 Pine Tree Dr 3/2 $1.05M, 396 Lake Murex Blvd 3/2 $1.1M, 3205 Twin Lakes Ln 3/2 $1.45M, 9020 Mickingbird Dr 3/2 $1.595M, 994 Whelk 3/2 $1.595M, 1111 Schooner Pl 3/3 $1.99M, 2364 Wulfert Rd 4/4 $1.998M, 978 Oyster Ct 4/4 $2.995M, 4731 Rue Belle Mer 5/5.5 $8.95M.

12 price changes: 1719 Serenity Ln 3/2 now $798K, 465 Lake Murex Cir 2/2.5 now $999K, 3343 Saint Kilda Rd 3/2 now $1.122M, 9421 Moonlight Dr 3/2 now $1.159M, 4400 Gulf Pines Dr 4/3 $1.395M, 1241 Junonia St 4/3 now $1.495M, 557 Lake Murex Cir 3/2.5 now $1.65M, 900 Almas Ct 4/4.5 now $2.15M, 5810 Pine Tree Dr 4/3 now $2.5M, 2287 Starfish Ln 4/4 now $2,599,999; 2255 Troon Ct 4/5 now $2.699M, 3767 West Gulf Dr 6/6.5 now $9.95M.

11 new sales: 1377 Sand Castle Rd 3/2 listed at $699K, 1251 Par View Dr 3/2.5 listed at $790K, 1578 Sand Castle Rd 3/2 listed at $895K, 198 Southwinds Dr 3/2 listed at $1.224M, 1067 Sand Castle Rd 4/2 listed at $1.225M, 1321 Sand Castle Rd 3/2.5 listed at $1.325M, 5298 Umbrella Pool Rd 3/2.5 listed at $1.495M, 1025 S Yachtsman Dr 4/3 listed at $2.85M.

8 closed sales: 1535 Wilton Ln 2/2 $585K, 4263 Gulf Pines Dr 3/2 $750K, 2058 Wild Lime Dr 3/2 $950K, 1213 Sand Castle Rd 4/2.5 $1.175M, 1322 Seaspray Ln 3/2.5 $1.4M, 2294 Wulfert Rd 4/4 $1.75M, 3935 West Gulf Dr 6/6.5 $7.55M.

1 new listing: 3304 Saint Kilda Rd $739K.

3 price changes: 1757 Windward Way now $449K, 1331 Par View Dr now $529K, 1321 Seaspray Ln now $899K.

1 new sale: 972 Fitzhugh listed at $295K.

1 closed sale: 4640 Rue Belle Mer $1.25M.

Captiva

CONDOS

1 new listing: Lands End Village #1656 3/3  $2.85M. 

1 price change: Bayside Villas #4116 1/2 now $650K.

No new sales.

1 closed sale: Gulf Beach Villas #2118 2/2 $985K.

HOMES

No new listings.

1 price change: 57 Sandpiper Ct 3/2 now $1.499M.

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.

Enjoy your weekend! We dock early Sunday morning!

Susan Andrews, aka SanibelSusan

It’s SanibelSusan reporting another sunshiny Friday following another week of wonderful Florida winter weather. The forecast for next week is similar though it shows a chance of rain on Monday and Tuesday daytime temperatures might hit 80 degrees F.

Re-Building, Re-Openings, Restoration

Sanibel Lighthouse – If you saw photos of the Lighthouse last week with scaffolding, it has an even more “work in progress” look this week. Additional protection was added as part of the process in cleaning, sandblasting, and painting the structure. It now has the appearance of a lighthouse in disguise. If you go to check it out, also be sure to see the wide expanded East End beach where sand restoration continues.

Shell Museum – Today (Mar 1) is the reopening of the Bailey-Matthews National Shell Museum’s Living Gallery of Aquariums. Open Tues through Sat from 10 a.m. to 5 p.m., admission fees are reduced until the full restoration at the museum is complete.

In addition to their ongoing educational lectures, fieldwork, classes, research, and K-12 programs (all of which continued through rebuilding), with the aquariums open, the museum now also offers daily Keeper Chats, Touch Pool Talks, and a new mobile activity cart featuring shell identification. All of these are included in the price of admission.

Work to rebuild the 2^nd floor permanent shell exhibits in the Great Hall of Shells will continue through spring. Once that is done, it will include more than three times as many shells as pre-storm, expanded conservation and environmental education exhibits, and a new family activity area.

Suncatchers’ Dream – Suncatchers’ Dream at 630 Tarpon Bay Rd, in the Olde Sanibel Shoppes Center, which was destroyed during the storm has been restored and just announced their upcoming reopening celebrations which will be on Thurs and Fri March 28 and 29 from 9 a.m. to 1 p.m. In addition to their many island gifts, cards, and books, a rep from Dune Jewelry also will be there showcasing special items made with island sand.

Most Charming Small Town in Florida

The following article was posted this week on News Channel 8 (Tampa) (WFla):

“If you’re looking for the charm of a small town but still want a relaxing beach getaway, you might want to take a trip to a beach town on Florida’s southwest coast.

 “According to Reader’s Digest, Sanibel has earned a spot among the most charming small towns in America. Reader’s Digest said Sanibel is known for “fabulous seashell finds” and wildlife sightings. The magazine recommended travelers visit the Sanibel Historical Museum…. Reader’s Digest said the museum is packed with artifacts from the Calusa Native Americans, Spanish, and other pioneers who lived in Sanibel.

 “The magazine recommended the Island Inn, a gulf-front hotel on West Gulf Drive…. Although Hurricane Ian hit the town in 2022, city officials said they have worked to restore the beach and nature destinations, including rebuilding the Sanibel Causeway, which was severed during the storm. “We may not be perfect yet, but we still consider the islands of Sanibel & Captiva their own brand of paradise. Many agree and continue to visit to help support our recovery,” city officials said.”

Sanibel & Captiva Islands Real Estate News

The local Association of Realtors® Caravan of Open Houses is next Thursday afternoon (Mar 7), with the next Membership Meeting and Caravan on Mar 25. The event next week is at the Library and the membership meeting  at The Community House. Restoration of the Association building at 2353 Periwinkle Way continues. It’s getting close.

Below, with data from the islands MLS, are summary tables of the island residential sales statistics, followed by the MLS action reported this week.

Sanibel & Captiva Islands Multiple Listing Service Activity Feb 23‑Mar 1 

Sanibel

CONDOS

6 new listings: Sanibel Siesta #605 2/2 $875K, Oceans Reach #4C3 2/2 $900K, Oceans Reach #4D1 2/2 $910K, Sunset South #15B 2/2 $1.1M, Sundial #L402 3/2 $1.35M, Tamarind #B302 3/2 $2.795M.

3 price changes: Sunset South #3C 2/2 now $699K, Sundial #K403 2/2 now $1.15M, Villas of Sanibel #A201 3/3 now $1.495M.

2 new sales: Sundial #D309 1/1 listed at $449K, Island Beach Club #220A 2/2 listed at $560K.

2 closed sales: Tantara #302 3/2 $1.8M, Somerset #B102 3/3.5 $1.9M.

HOMES

14 new listings; 4049 Coquina Dr 3/2 $575K, 530 Piedmont Rd 3/2 $750K, 293 Palm Lake Dr 3/2 $998.9K, 4619 Brainard Bayou Rd 3/2 $999K, 9247 Dimmick Dr 3/2 $1.095M, 5414 Osprey Ct 3/3 $1.406M, 944 Whelk Dr 3/2 $1.595M, 4428 Waters Edge Ln 3/2.5 $1.6999M, 828 Sand Dollar Dr 4/3 $1.87M, 938 Pecten Ct 3/2.5 $1.895M, 2303 Troon Ct 3/3.5.5 $2.298M, 1507 Angel Dr 3/2.5 $2.499M, 5048 Joewood Dr 4/3.5 $2.55M, 1025 S Yachtsman Dr 4/3 $2.85M.

14 price changes: 3025 Royal Poinciana Cir 3/2 now $849K, 199 Southwinds Dr 3/3 now $995K, 2479 Blind Pass Ct 3/2 now $999.9K, 235 Palm Lake Dr 3/2 now $1.094M, 1426 Sand Castle Rd 3/2 now $1,199,999; 1450‑1460 Court Pl 5/4.5 now $1.2M, 1067 Sand Castle Rd 4/2 now $1.225M, 1306 Par View Dr 3/3.5 now $1.39M, 3708 Agate Ct 3/3.5 now $1.39M, 3822 Coquina Dr 4/3.5 now $1.395M, 4171 Dingman Dr 3/3 now $1.399M, 2525 Lands End Pl 4/3 now $2.174M, 1511 Angel Dr 4/3 now $2.199M, 2255 Troon Ct 4/5.5.5 now $2.75M.

2 back-on-market: 863 Rabbit Rd (1/2 duplex) 3/2 $678.5K, 218 Daniel Dr 3/2.5 $1.488M.

11 new sales: 3902 Coquina Dr 3/2 listed at $539K, 1481 Sand Castle Rd 2/2 listed at $679K, 998 Greenwood Ct N 3/2.5 listed at $705K, 3312 Saint Kilda 3/2 listed at $777K, 737 Vinca Way 3/2 listed at $1.075M, 6460 Pine Ave 3/2 listed at $1.25M, 3212 Twin Lakes Ln 3/3 listed at $1.3M, 1769 Venus Dr 3/2 listed at $1.949M, 2711 Wulfert Rd 4/4.5.5 listed at $1.998M, 4681 Rue Belle Mer 3/3.5 listed at $4.7M, 707 Anchor Dr 3/2.5 listed at $2.99M.

3 closed sales: 5151 San-Cap Rd 2/2 $399K, 9393 Peaceful Dr 3/2 $1.15M, 5690 Pine Tree Dr 3/2 $2.2M.

3 new listings: 5642 Baltusrol Ct $439, 5648 Baltusrol Ct $449K, Lot 19 Coquina Dr $515K.

2 price changes: 3730 Coquina Dr now $565K, 4657 Rue Belle Mer now $3.3M.

No new sales.

1 closed sale: 4163 West Gulf Dr $3.51M.

Captiva

CONDOS

No new listings.

1 price change: Gulf Beach Villas #2126 2/2 now $1.25M.

No new or closed sales.

HOMES

No new listings.

1 price change: 11517 Wightman Ln 4/3 now $3.1M.

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.

Enjoy your weekend, Susan Andrews, aka SanibelSusan

Another Friday is here following another week of mostly sunny sometimes chilly (or under 70 degrees F) weather. Temps are expected to reach the high 70’s soon, so the nice weather continues.

There seemed to be a few more visitors/vacationers here this week following the 3-day holiday weekend, a noticeable increase of both bikers and walkers on the shared use paths and side streets, and definitely more at the public beach parking areas.

Our Travels

Both teammate Dave and I have been out showing property again this week. Our challenges included some occasional cell phone service delays and the return of heavy contractor traffic after the long weekend.

Personally, I try not to leave the island often, but traveling from the East End, there are delays on Periwinkle leaving after 2 p.m. and returning anytime in the morning. Returning after 2 p.m. also usually results in a long delay at the 4-way stop with off-island vehicles given priority.

Leaving the island, Summerlin Rd from the toll booth to Port Comfort Rd (site of Lighthouse Waterfront Restaurant) is now limited to one lane. The right-hand lane along what we often call “the mud flats” is completely closed off for about three months as contractors perform work to protect the shoreline. They will be clearing vegetation and installing underground marine mattresses. Expect slow going along that stretch.

More Progress

On the causeway, marine mattresses are also being installed, these from the water. With bridge travel now on what will become the permanent roadways, good progress continues too on the islands and bridges themselves.

The Sanibel beach restoration project work is also moving along nicely. At Lighthouse Beach, the bayside parking lot closed beginning this week, to be used as a staging area for the restoration underway between the Lighthouse and Donax St,

At the actual Lighthouse, scaffolding went up this week, as it soon will get a new coat of paint.

Re-Building, Re-Openings, Restoration

The Bubble Room – I saw a post this week saying that the Bubble Room Restaurant will be reopening later this year. They do not have a set month yet, but recently had a new roof put on. Meanwhile, Boop’s by The Bubble Room is open daily 8 a.m. to 6 p.m. with their famous cakes and desserts, plus breakfast and lunch items. The Bubble Emporium Gift Shop is also open daily 9 a.m. to 6 p.m. with gifts, Bubble Room merchandise, and antiques.

Olde Sanibel East End Shops – At the Olde Sanibel East End shops, it’s wonderful to see the parking lot often busy with increased activity now that The Magic Bus is open. I see lotsa folks enjoying ice cream. Wickie’s Lighthouse Restaurant (in the former location of Lighthouse Café) also looks to be close to opening. They have their tables and chairs set up! Between the action there and the sand trucks heading to the Lighthouse, the East End is busier than in a very long time.

Kiwanis Annual Spaghetti Dinner – This annual event returns tomorrow night after a three-year hiatus due to the pandemic and hurricane. If you were planning on buying your ticket at the door, it looks like it is too late for that, I just saw a notice that the event is sold out. With proceeds going to local youth education and recreation, this event always brings out islanders.

Sanibel & Captiva Islands Real Estate News

The Caravan of Open Houses following the local island Association of Realtors® monthly membership meeting yesterday included 12 Sanibel homes, two Sanibel condos and a home on Captiva. The next Caravan is in two weeks.

As I prepared my company ad for the monthly Real Estate Guide magazine and collected sales data from the Sanibel and Captiva Islands Multiple Listing Service, I also noticed postings by colleagues about what many are calling a market correction. Those are normal occurrences in the real estate market when there is more inventory than buyers or more buyers than inventory. Sometimes prices go up, sometimes they go down.

On Sanibel and Captiva where the most sales usually occur when the most buyers are in town which typically is the winter, the end of February often is when prices are corrected to ensure a successful sale “in season”. This year not only is “high season” winding down, but it is happening as the number of listings continues to increase. Many of those are the result of the hurricane. I look at it as a transition period and actually a good time for both sellers and buyers as the islands continue to recover and bounce back to what probably will be a new normal.

The good news is that there are more choices for buyers whether they want a property ready for occupancy, investment, a project, or in a specific location or community. Below, with data from the islands MLS, are summary tables of the island residential sales statistics, followed by the MLS action reported this week.

First week in memory that there was no action posted on Captiva, while Sanibe shows twice as much action with homes as condos – double the number of listings, new listings, price reductions, new sales, and closed sales. Condos will catch up eventually.

Sanibel & Captiva Islands Multiple Listing Service Activity Feb 16‑23

Sanibel

CONDOS

4 new listing: Sanibel Arms #D3 1/1 $425K, Mariner Pointe #1073 2/2 $749K, Blind Pass #D204 3/2 $850K, Gulfside Place #125 3/2 $1.895M.

7 price changes: Spanish Cay #C6 2/2 now $449K, Mariner Pointe #951 1/1 now $529K, Loggerhead Cay #282 2/2 now $844K, Mariner Pointe #223 2/2.5 now $874.9K, Pointe Santo #B44 2/2 now $995K, Pointe Santo #E43 2/2 now $1.15M, Sanibel Moorings #721 3/2 now $1.3M.

1 back-on-market: Bandy Beach #E101 3/2 $1.05M.

3 new sales: Sanibel Shores #B2 1/1 listed at $529K, LaPlaya #2A 3/2 listed at $1.095M, Gulfside Place #208 2/2 listed at $1.25M.

1 closed sale: Oceans Reach #2A2 2/2 $800K.

HOMES

11 new listings; 3902 Coquina Dr 3/2 $539K, 1866 Ibis Ln 2/2 $839K, 1625 Serenity Ln 3/2 $979K, 547 Chert Ct 3/3.5 $999K, 738 Durion Ct 3/3 $1.399M, 933 Whelk Dr 3/2 $1.695M, 819 Birdie View Pt 3/2.5 $1.895M, 1769 Venus Dr 3/2 $1.949M, 911 S Yachtsman Dr 3/3 $2.285M, 1283 Isabel Dr 3/2 $2.82M, 4352 West Gulf Dr 5/3.5 $3.395M.

14 price changes: 812 Rabbit Rd 3/2 now $768.5K, 1719 Serenity Ln 3/2 now $819K, 1196 Sand Castle Rd 2/2 now $825K, 9428 Moonlight Dr 3/2 now $869,999; 1731 Serenity Ln 4/3 now $994.5K, 9479 Blind Pass Ct 3/2 now $999,990; 737 Vinca Way 3/2 now $1.075M, 3822 Coquina Dr 4/3.5 now $1.395M, 729 Sand Dollar Dr 4/3 now $1.395M, 742 Nerita St 3/2 now $1.75M, 3744 West Gulf Dr 4/4 now $1.95M, 2969 Wulfert Rd 6/7.5 now $3.195M, 918 Limpet Dr 4/4.5 now $3.225M, 2960 Wulfert Rd 5/5.5 now $3.549M.

3 back-on-market: 931 S Yachtsman Dr 4/3.5 $998K, 932 Whelk Dr 3/3 $1.15M, 2276 Wulfert Rd 4/5.5 $1.6M.

7 new sales: 1113 Sand Castle Rd 3/2 listed at $798K, 2166 Egret Cir 3/2 listed at $799K, 920 Almas Ct 3/2.5 listed at $1.595M, 6129 Starling Way 3/2.5 listed at $1.598M, 840 Birdie View Pt 3/2.5 listed at $1.925M, 558 N Yachtsman 2/3 listed at $1.999M, 2871 Wulfert Rd 4/4 listed at $2.59M.

1 closed sale: 967 Cabbage Palm Ct 3/3 $1.275M.

LOTS

2 new listings: 5398 Osprey Ct $429K, 6008 White Heron Ln $1.195M.

1 price change: 2505 Island Inn Rd now $275K.

No new sales.

1 closed sale: 4717 Rue Belle Mer $3.2M.

Captiva

CONDOS, HOMES, 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.

Enjoy your weekend, Susan Andrews, aka SanibelSusan

Following another week of nice winter island weather (mostly sunny with mid-70-degree F days), the forecast shows a high chance of rain beginning late tomorrow and into Sunday. A couple of cooler days may follow, but it likely will be back into the 70’s soon.

With the 3-day Presidents weekend, it would be nice to have good weather for visitors. Island restaurants and shops are ready for more business. Maybe rain will bring them customers.

Re-Building, Re-Openings, Restoration

Cheeburger Cheeburger – A social media post says this restaurant in Tahitian Gardens is expected to reopen in nearly April under new ownership,

National Shell Museum – The new sign is up at the Bailey-Matthews National Shell Museum & Aquarium. Rumor has it that their reopening will be announced soon.

Sanibel Marina – Gramma Dot’s at the Sanibel Marina at 634 N Yachtsman Dr recently reopened, It has been under new ownership since early January by Acme Marine Co. The prior owner had a food truck there for about nine months following the hurricane. The restaurant itself had a soft opening on Dec 13 and now is fully open. Operating for over three decades, their recipes remain the same, and they are open daily from 11:30 a.m. to 8 p.m. At Gramma Dot’s recent ribbon-cutting, two other businesses also opened at the Sanibel Marina: Adventures in Paradise (AIP) tours and Moke and Cabana Club rentals. Since 1986, AIP has run tours out of Port Sanibel Marina (off island). Following the hurricane, they rescued hundreds from the islands and transported many first responders. From the marina, Adventures in Paradise is offering morning, afternoon, and sunset dolphin and wildlife cruises, and a shelling beach and lunch cruise to Cabbage Key, plus private and holiday cruises. Moke and Cabana Club opened before Ian in 2022 and worked on a delivery basis after the storm. It now partners with the marina for office space, where it rents electric vehicles known as Mokes, golf carts, beach cabanas and chairs, and electric surfboards.

Signal Inn – Though the office and grounds are still a work in progress and the pool isn’t expected to be done until mid-March, Signal Inn just announced that they are accepting reservations for stays beginning in April. Signal Inn has 19 units and is one Sanibel’s few pet-friendly weekly rental condos (up to two dogs or cats allowed).

White Caps – News this week is that the nine little cottages at 2877 West Gulf Dr that the hurricane destroyed are being rebuilt and will be put on pilings. Once the site is ready, the new cottages will be delivered and elevated. Then, stairways and a small porch will be added to each one, exteriors painted, and interiors finished. This condo community originally had eight small 1-bedroom units and a single 3-bedroom. The rendering looks like they will be duplex-style.

The Future of Florida Real Estate

Looking at the state overall, Florida home values have increased about 80% over the past five years. Analysts that watch that market have weighed in on how rising interest rates have affected sales but agree that the Florida housing market is strong and a positive trend is expected for at least the next five years.

For sellers, this is good news, implying that property values are rising. Whether the country enters a recession, or not, the housing market appears to be in good shape in Florida for the foreseeable future. It’s a good time for real estate investors to capitalize on market possibilities.

Sanibel & Captiva Islands Real Estate News

There was no meeting this week for the local island Association of Realtors®, but next Thursday at 11:30 a.m. is our monthly Membership Meeting which again will be at The Community House. A caravan of open houses will follow the meeting, until about 3 p.m.

Though the SanibelSusan Team has been showing property and talking with prospective purchasers, as we chat with island colleagues, the overall feeling is much the same – inventory has increased, but not many are buying. This is resulting in price reductions and that may continue until sales pick up.

Illustrating that below, with data from the islands MLS, are summary tables of the island residential sales statistics, followed by scoop about our listings, and the MLS action reported this week.

On the commercial side, another property was listed this week: 1025 Periwinkle Way (formerly Norris Furniture) $1.3M.

Sanibel & Captiva Islands Multiple Listing Service Activity Feb 9‑16

Sanibel

CONDOS

3 new listing: Tennisplace #C34 2/1.5 $574,999; Sunset South #9B 2/2 $599.9K, Heron at The Sanctuary #1-1A 3/2.5 $1.15M.

3 price changes: Sundial #D309 1/1 now $449K, Gulfside Place #204 2/2 now $1.25M, Gulfside Place #208 2/2 now $1,25M.

2 back-on-market: Sanibel Arms 1/1 $439K, Island Beach Club #220A 2/2 $560K.

2 new sales: Sunset South #12C 2/2 listed at $620K, Loggerhead Cay #324 2/2 listed at $879K.

No closed sales.

HOMES

9 new listings; 970 Greenwood Ct S 3/2 $829K, 1406 Causey Ct 3/2.5 $1.325M, 235 Daniel Dr 3/2 $1.495M, 920 Almas Ct 3/2.5 $1.595M, 6425 Pine Ave 4/3 $1.685M, 840 Birdie View Pt 3/2.5 $1.925M, 2711 Wulfert Rd 4/4.5.5 $1.998M, 2719 Wulfert Rd 4/4.5.5 $1.999M, 960 Victoria Way 3/3 $2.495M.

13 price changes: 465 Lake Murex Cir 2/2.5 now $1.099M, 198 Southwinds Dr 3/2 now $1.224M, 1321 Sand Castle Rd 3/2.5 now $1.325M, 930 Strangler Fig Ln 5/3.5 now $1.395M, 969 Whelk Dr 3/2.5 now $1.495M, 4573 Bowen Bayou Rd 3/2 now $1.495M, 696 Durion Ct 3/2.5 now $1.495M, 4400 Gulf Pines Dr 4/3 now $1.495M, 848 Limpet Dr 3/2 now $1.8M, 811 Birdie View Pt 3/2.5 now $1.85M, 836 Birdie View Pt 3/3.5 ow $1.999M, 1052 Whisperwood Way 3/3 now $2.6M, 4461 Waters Edge Ln 3/3.5 now $5.85M.

9 new sales: 863 Rabbit Rd (1/2 duplex) 3/2 listed at $678.5K, 657 Rabbit Rd 3/2 listed at $779K, 931 S Yachtsman Dr 4/3.5 listed at $998K, 1396 Sand Castle Rd 3/2 now $1.55M, 2745 Wulfert Rd 3/3.5 listed at $1.558M, 2276 Wulfert Rd 4/5.5 listed at $1.6M, 4415 Gulf Pines Dr 3/3 listed at $1.695M, 1662 Dixie Beach Blvd 3/2.5 listed at $2.249M, 5235 Indian Ct 4/4 listed at $2.348M.

3 closed sales: 744 Martha’s Ln 3/2 $759K, 2228 Starfish Ln 3/2.5 $1.444M, 2477 Wulfert Rd 3/4 $1.715M.

LOTS

No new listings or price changes.

1 new sale: 4163 West Gulf Dr listed at $3.995M.

1 closed sale: 395 Bella Vista Way E $1.275M.

Captiva

CONDOS

1 new listing: Beach Villas #2227 1/1 $849K.

1 price change: Beach Homes #29 4/4 now $3.35M.

2 back-on-market: Beach Villas #2222 1/1 $799K, Sunset Captiva #204 2/2 $1.9M.

1 new sale: Captiva Beach Villas #1-B 3/2.5 listed at $3.295M.

No closed sales.

HOMES

2 new listings: 1127 Longifolia Ct 4/4 $10M, 11531 Paige Ct 3/3.5 $12.995M.

4 price changes: 57 Sandpiper Ct 3/2 now $1.545M, 11516 Wightman Ln 5/4.5 now $3.499M, 11529 Andy Rosse Ln 4/4 now $3.91M, 16512 Captiva Dr 7/5.5 now $10.5M.

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.

Enjoy your weekend, Susan Andrews aka SanibelSusan