Rainy Season Begins on Otherwise Sunny Sanibel

The Florida rainy season has begun. Last Friday, just after posting my weekly update, there was a brief shower on Sanibel’s East End and another longer downpour on Wednesday evening. Though vegetation and wildlife desperately needed water, the news reported inland flooding and continued damage to many properties still wearing blue tarps, awaiting roof repairs. That rain also unfortunately provided proof that my standing-seam metal roof, inspected and thought to be undamaged from Hurricane Ian, still needs maintenance. It has solar tubes which provide wonderful light in my little ground-level home, but one leaked, so resealing is ordered. Just another hiccup in the recovery process.

Following up on my island travels last week, I also again viewed a few more communities over the holiday weekend. It hardly seemed like a holiday with very few vehicles about, though public beach accesses were busy, and it was nice to see contractors working at several single-family homes. On Monday, I even saw workers at Tantara condos. Otherwise, condo build-back continues to be slow. We are thankful that our condo listings are in pro-active associations, but it has become evident that it will be a long time before many other complexes will be ready for occupancy.

My other observation was that many more homes have been demolished and those lots cleared of debris. Often in the same neighborhood there are other properties that haven’t been touched. Many new homes already are being constructed, an astounding number really and perhaps a sign that the new Sanibel Building Dept is quickly processing permits. There should be an update on that next week during the Tuesday, June 6, monthly City Council Meeting.

Hurricane Season

It’s here again! Yesterday, on June 1, the first day of 2023 Hurricane Season, Tropical Depression #2 got named at 5 p.m. From the northern area of the Gulf of Mexico, forecasters predicted today that it would not have a direct impact on Florida as it travels south and fizzles out.

Tropical Depression #1 was already taken by a storm discovered in post-season analysis, which formed in January.

Sanibel-Captiva Conservation Foundation Update on Sea Turtles

SCCF photo of Sanibel’s first turtle nest 10 years ago, in 2013

“As of May 30, our nighttime sea turtle tagging team has encountered 86 unique sea turtles this nesting season. This includes turtles with existing tags that staff can identify and document, as well as turtles that were tagged for the first time this year. “Sea turtles without tags could be first-time nesters, returning turtles that weren’t encountered by the team in previous years, or turtles that have nested on other beaches that aren’t monitored by nighttime teams,” said SCCF Sea Turtle Biologist Savannah Weber. “We’ve been seeing an average of four or five sea turtles each night, which is nearly twice the average last year at this time.”

“After SCCF applies tags to these turtles — which allows staff and other scientists to see the individual’s nesting and movement patterns — our team also gets the pleasure of “naming” the turtle. Themes in past years have included shells, ice cream flavors, spices, and Pokémon. This year, the theme is female musical artists. “Some of the names we’ve given turtles include Tina Turner, Fergie, Gwen Stefani, Reba McEntire, and Dolly Parton,” Weber said.

“Previously tagged turtles seen this year have included frequent nesters such as Venus and Conch, who have been encountered every one-to-two years since 2016. Staff were also pleased to see the return of Junonia, a satellite-tagged loggerhead who has nested on Sanibel for six of the past seven years.

““Generally, sea turtles exhibit ‘natal homing,’ which means nesting females will lay nests near the same beach they hatched from,” Weber said. “Some turtles have very precise natal homing, where they lay nests within a few miles from the exact spot of beach from which they hatched. Others have more general homing, where they may lay anywhere within the general region of where they originally hatched.”

“Since SCCF’s tagging project began in 2016, staff have encountered over 950 unique individual sea turtles. Over 350 sea turtle nests have been laid on Sanibel and Captiva Islands this season.”

SCCF Also Reports Bald Eagle Chicks

“A total of nine bald eagle chicks fledged this year on Sanibel, Captiva, and North Captiva, despite Hurricane Ian wiping out all known nests. With the help of partners and volunteers, SCCF monitors bald eagle nests on the islands during the nesting season (Oct. 1 to May 15) and reports data to the Audubon Society’s Eagle Watch Program.

““It was a challenging season for bald eagles, but they wasted no time rebuilding their nests and laying eggs,” said SCCF Shorebird Technician Aaron White. “Rebuilding is a particular feat for bald eagles, which typically re-use and build upon the same nest year after year.”

“Among the 10 breeding pairs SCCF monitors, seven successfully nested and fledged chicks. Two pairs didn’t renest, while one nest failed due to an unknown cause. “The eagles really bounced back from Hurricane Ian, and we’re hopeful the rest of the nesting wildlife across the islands will do the same,” White said.”

Impacts of Ian Advance Restoration of Grasslands

Also in their recent update, SCCF posted: “The current clearing of dead vegetative debris that created a fire hazard on many SCCF preserve lands will have the long-term effect of accelerating the restoration of native habitats.

“”State contractors are doing their best to maneuver through the habitats with minimal disturbance to living native flora,” said Wildlife & Habitat Management Director Chris Lechowicz.  The dead trees and shrubs created a fuel load that increased the chance of wildfires. “Removing them will provide native grasses and ground cover plants an opportunity to take hold again from remaining seed sources in the ground and from any plantings we do to fill in the areas,” he added.

“Prior to development, Sanibel was mostly a vast open canopy grassland that was kept in that state by wildfires and a hydrology that limited freshwater to the center of the island along the Sanibel Slough during the long dry season. Historical aerial photographs show that buttonwood, a freshwater-loving tree in the white mangrove family, bordered the Sanibel Slough because it was the wettest part of the island. “Historically, natural wildfires would consume young buttonwoods that attempted to establish outside of this buffer of the river on higher land,” Lechowicz said.

“In the early 1990s, the City of Sanibel adopted a weir control policy to better manage surface water on the island. The objective of the policy is to attempt to retain as much fresh surface water as possible for the environmental benefit of the interior wetlands as long as developed areas are not adversely impacted.

“The weir system allows the water level to be kept higher on the west end of the island as opposed to the east end because there are more conservation lands and less developed areas west of Tarpon Bay Road.

“Post-Ian, saltwater inundation of the freshwater wetlands caused highly brackish water to stand for long periods of time. As a result, woody vegetation had higher mortality on the west end because the salty water inundated those root systems longer. “The storm surge seemed to ‘turn back the clock’ slightly by decreasing living hardwood densities that overtook the expansive grasslands we once had,” said Lechowicz.”

Floridians a Bit More Confident in May

Posted on Florida Realtors Wednesday, May 31 by Kerry Smith:

“UF: After a drop in April – the only one in 2023 so far – Floridians’ consumer outlook rose modestly again in May as the state bucks national trends.

“GAINESVILLE, Fla. – Florida continues to defy national trends. According to the monthly consumer sentiment study from the University of Florida’s (UF) Bureau of Economic and Business Research, consumer sentiment among Floridians inched up one-tenth of a point in May to 68.8 from a revised figure of 68.7 in April – the only month so far this year that saw a decline. Nationally, consumer sentiment fell 4.3 points.

““Despite the ups and downs in consumer sentiment observed over the last 12 months, Florida’s consumer confidence has trended upwards, with a notable increase of 8 points in May compared to a year ago,” says Hector H. Sandoval, director of the Economic Analysis Program at UF’s Bureau of Economic and Business Research. “This positive trend is consistent with a strong labor market and aligns well with the general decline in inflation levels since its peak in June,” says. “Nonetheless, it is worth noting that consumer confidence continues to remain at historically low levels.”

“Among the five components that make up the full index, three increased and two decreased.

 “Current economic conditions: Floridians’ opinions about current economic conditions portrayed a slightly more optimistic outlook in May. Views of personal financial situations now compared with a year ago increased slightly by nine-tenths of a point from 62.6 to 63.5. Similarly, opinions as to whether it’s a good time to buy a big-ticket household item such as a refrigerator or furniture increased 1.7 points from 59.6 to 61.3.

 “Future expectations: The three components focusing on Floridians’ attitudes about the future were mixed. Expectations of personal finances a year from now decreased slightly, three-tenths of a point, from 83.6 to 83.3. On the other hand, expectations about U.S. economic conditions over the next year increased slightly – three-tenths of a point from 66.3 to 66.6 – but the outlook for U.S. economic conditions over the next five years dropped 2.6 points from 71.7 to 69.1.

“Florida’s labor market has remained robust, with strong demand for workers and a consistently low unemployment rate, according to the report. In April, the state’s unemployment rate held steady at 2.6% for the fourth consecutive month, which is lower than the national rate. Moreover, the leisure and hospitality industry showed the largest percent change in job gains over the year, experiencing an increase of 7.3%.

““Despite concerns about persistent inflation, the recent turmoil in the banking sector and the possibility of further interest rate hikes, we anticipate that consumer confidence among Floridians will continue to trend upward in the months ahead,” says Sandoval. “This is based on the expectation that Florida’s tourism industry will experience an increase in demand during the upcoming summer season.”

“Sandoval adds a caveat, however, saying that outlook “may change drastically if the debt-ceiling standoff fails to be resolved and payments on U.S. government debt are not made.”

“The index used by UF researchers is benchmarked to 1966, which means a value of 100 represents the same level of confidence for that year. The lowest index possible is a 2, the highest is 150.”

Sanibel & Captiva Islands Real Estate

There was no Sanibel & Captiva Islands Association of Realtors meeting this week, but next Thursday morning is a Caravan Meeting at BIG ARTS.

Below with data from the island MLS (Multiple Listing Service) are updated summary tables of the residential sales statistics and the action posted since last Friday in the MLS.

SANIBEL

RESIDENTIAL

CONDOS HOMES LOTS
# Avg Price DOM # Avg Price DOM # Avg Price DOM
For sale 64 1,187,978 104 113 1,580,784 90 31 1,218,400 84
Under contract 9 806,100 73 36 1,399,442 81 4 507,000 35
Sold 2023 to 6/2 58 945,586 47 145 1,206,181 51 12 997,416 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 12 1,960,833 81 9 4,569,444 73 1 15,500,000 433
Under contract 4 753,500 99 2 4,772,500 153 0 N/A N/A
Sold 2023 to 6/2 5 1,110,400 109 8 2,960,500 60 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 May 26 – June 2

Sanibel

CONDOS

1 new listing: Sanibel Siesta #403 2/2 $759K.

No price changes.

1 new sale: Seashells #33 2/2 listed at $435K.

2 closed sales: Blind Pass #F210 2/2 $560K, Loggerhead Cay #412 2/2 $740K.

HOMES

2 new listings: 1446 Sandpiper Cir (1/2 duplex) 2/2 $679K. 766 Donax St (duplex) 4/2.5 $799K.

3 price changes: 658 Donax St 3/2 now $699K, 9114 Mockingbird Dr 3/2 now $999K, 540 East Lake Rd 3/2 now $1M.

6 new sales: 1044 Sand Castle Rd 3/2 listed at $724.9K, 617 East Rocks Dr 3/2 listed at $998,995; 3311 Twin Lakes Ln 3/3 listed at $1.143M, 425 Lake Murex Cir 3/2 listed at $1.19M, 3205 Twin Lakes Ln 3/2 listed at $1.245M, 5750 San-Cap Rd 3/2 listed at $1.75M, 450 Sea Walk Ct 4/3.5 listed at $2.225M.

5 closed sales: 1720 Middle Gulf Dr 3/2 $810K, 1565 Bunting Ln 3/2 $890K, 3050 West Gulf Dr 3/2.5 $1.43M, 1057 Seahawk Ln 3/2.5 $1.5M, 1520 Angel Dr 4/4.5 $3.03M.

LOTS

No new listings or price changes.

1 new sale: 1872 Middle Gulf Dr listed at $799K.

1 closed sale: 2563 Coconut Dr $1.25M.

Captiva

CONDOS

No new listings, price changes, or new sales.

1 closed sale: Marina Villas #906 2/2 $1.15M.

HOMES

1 new listing: 1101 Tallow Tree Ct (1/2 duplex) 4/4 $4.95M.

No price changes, 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

Memorial Day Weekend Friday 2023 on Sunny Sanibel

As the Memorial Day weekend arrives, it is another sunny summer-like day on Sanibel with more of the same weather expected through the holiday (mid-80’s days, low 70’s nights). Islanders continue to anxiously await precipitation as inland communities and the East Coast have already seen the start of rainy season. This is the time of year when we often can see big white popcorn clouds across the bay on the mainland, but joke that they can’t afford the bridge toll to come to Sanibel.

Today, following lunch with a colleague at Rosalita’s (corner of Rabbit Rd and San-Cap), she said, “we’d better hurry, I think it’s going to rain.” There were a few drops on our vehicles, but from there, I took a leisurely drive along the Gulf Drives heading home looking for restoration progress at condos along the way. Other than a couple of brief sprinkles on the west end, there were no showers and nary a drop at my home on the east end.

Concerning activity at condo complexes, it was much the same as last week with workers noticed (mostly roofers) at only a few complexes including Sanddollar, Spanish Cay, Sundial East, Sunset South, Compass Point, Shorewood, Loggerhead Cay, Sanibel Arms West, and Sanibel Arms. For it being just 1 p.m. on a workday, I had hoped to see more action. It is becoming obvious that it will be many months before some of these communities are operational again. With it being the Friday of a holiday weekend, I also expected to see more vehicles on the roadways.  Other than three debris removal vehicles, I saw only a handful of trucks/cars.

On a personal note, my second week back living on the island was even better than the first. As I continue to witness how slowly recovery continues for others, I am sooo thankful to be back home.

The Green Flash

Our server today at Rosailta’s looked familiar. When I asked, she said that she worked at The Green Flash for 25 years. That reminded me that I saw a post on social media this week about that Captiva restaurant. It says “Hello Flash Friends, It’s been a while for an update and we apologize we have been a little busy rabbit. We have heard the rumors and they are 100% false. We will be reopening. The roof has finally been repaired so we can start work on interior items. The date for the reopening will in mid/late September, we have picked a very special weekend to reopen for everyone. Stay tuned for more details and updates on progress of bringing the beloved Green Flash Restaurant back to life. Thank you to everyone that has reached out with love and support.”

The Community House

The Sanibel Community Association also posted a facility update this week. They divided their rebuilding into three phases and currently are working on completing Phase 1 which opens their doors again for meetings, classes, and small gatherings. Contractors also have begun Phase 2. (Phase 1: lobby, offices, bathrooms, and Islander Room; Phase 2: Great Hall, Community Room, kitchen; Phase 3: Founders Historical Room).

They have already announced that the Rotary Club of Sanibel-Captiva will be holding their weekly meetings at The Community House again beginning Friday, June 16. Jerry’s is partnering with them in providing breakfast for the meetings.

Also, beginning Monday, June 19, 10 a.m. to 1 p.m. the original Sanibel Island “Shellcrafters” will be there weekly. These Monday shell crafting classes are free. Participants just pay for supplies (usually between $5-10.) Items will also be for sale, with sales benefiting the operation of The Community House.

South Seas Island Resort

While the resort remains closed, it was announced that the Yacht Harbour Marina is open to dock and fuel up. It also offers ice, water, and snacks. Make reservations at 855-777-3625.

 

Tarpon Bay Explorers

The J.N. “Ding” Darling National Refuge recreation concession will be offering a 25% discount to any Lee County resident for kayak, stand-up paddleboard, and Hobie fishing kayak rentals June 1 through August 31. “We want people to experience the Refuge and all its beauty,” said Managing Partner Wendy Schnapp. “The bay is a new version of beauty. Though the mangroves are not as lush, the trail is peaceful, clear, and fully accessible. We still see great wildlife daily. Manatees are regularly in our harbor. We hope locals take advantage of the discount and support us, the Refuge, and the island in general.”

Current Tarpon Bay Explorer hours are 8 a.m. to 5 p.m. Monday, Wednesday, Friday, and Saturday (last rentals at 3 p.m.).

Risk Rating 2.0 Takes Effect: What to Know

If you have questions about the National Flood Insurance Program’s new pricing methodology, below is a recent update posted on-line from the National Association of Realtor’s Insurance Committee chair, Cyndee Haydon, who is from Tampa.

“Q: What Is Risk Rating 2.0? A: When developing flood insurance prices, the NFIP now rates each home individually—rather than by zone—using modern technologies, multiple flood risk variables and property-specific characteristics, including elevation, distance to water and cost to rebuild. A third of flood insurance policyholders are paying a full-risk rate while others are paying a subsidized rate that is gradually increasing to full risk over time. The new methodology does not affect flood mapping or the federal mandate to purchase flood insurance.

“What’s Happening Now? All NFIP policies have transitioned to Risk Rating 2.0 as of May 1, and there have been no reports of delays or disruptions to home sales. In fact, Risk Rating 2.0 can help real estate pros build trust with clients because it helps buyers understand the true actuarial rate over time before they purchase. The rollout of Risk Rating 2.0 has been surprisingly smooth, considering it’s the first major update to NFIP pricing in 50 years.

“Why Were These Changes Needed? After the passage of the Biggert-Waters Act in 2012, REALTORS® uncovered many problems with the previous flood insurance rating methodology, which had not been updated in a half-century. Risk Rating 2.0 was established as a result and provided much needed updates based on actuarial risk, science and common sense.

“Here’s one example: Under the old methodology, an NAR member was quoted an annual rate of $87,000 for flood insurance on a $300,000 home. NAR asked FEMA and independent actuaries how the rate could be so high for the property, a modest home that never flooded, and no one could explain it. Under Risk Rating 2.0, FEMA now uses science to cap the maximum possible NFIP rate at $12,125 per year, which only a few high-value, high-risk property owners would pay. For that same $300,000 home, flood insurance now costs only $1,247 under the new rating system.

“Because pricing in the old methodology was based on national flood zones, older and low-value properties subsidized new, high-value properties. NAR’s Insurance Committee collaborated with FEMA and funded an independent actuarial study to help propose a solution. As a result, Risk Rating 2.0 ensures that each property owner pays for only their own individual risk and no one else’s.

“Risk Rating 2.0 also provides consumers with full disclosure on flood insurance rates. After the Biggert-Waters Act, I helped clients whose rates jumped over $10,000—and they were required to pay it in one lump sum after buying a home. Believe me, you don’t ever want to have to take calls like this from former clients. I didn’t sleep until Congress rolled back and put the rates on a glidepath with the Flood Affordability Act of 2014, which, unfortunately, was only a temporary measure. Risk Rating 2.0 provides a permanent solution, giving new NFIP policyholders the science-based, actuarially sound, full-risk flood insurance rates upfront before they purchase.

“Why Do Some Say NFIP Rates Have Doubled or Tripled? Rates have not doubled or tripled anywhere in the United States. Some media reports are taking out of context a FEMA projection of what the average full risk rate might look like given today’s conditions.  However, those are not actual rates paid by two-thirds of policyholders, and by law, rates cannot increase more than 18% per year.  Also, flood risk is dynamic: Many factors can impact the current projection, including future changes in climate, inflation and the policyholder population. What FEMA data shows is: 1) most policyholders are not paying a full-risk rate and 2) it will take at least five to 10 years before they do if all things stay the same.

“What’s Next?

Now that Risk Rating 2.0 is in place, NAR’s Insurance Committee is turning its attention to other priorities, including:

  • NFIP reauthorization.Congress has passed two dozen short-term extensions while continuing to debate meaningful, bipartisan reforms for accurate mapping, affordability through risk mitigation and private flood insurance options. REALTORS® are urging Congress to pass a long-term reform and reauthorization measure that brings stability to real estate markets.
  • Climate financial risk.Risk Rating 2.0 is only one example of a federal agency complying with an executive order to underwrite climate risk. Other federal agencies are currently evaluating their exposure to climate risk, which could have significant implications for federal mortgage loan programs, including Fannie Mae and Freddie Mac.
  • Hazard Insurance.Most insurance policies cover typical disasters except floods and earthquakes. Rising costs are the number one insurance-related issue in many states, including Florida and Louisiana, and NAR’s Insurance Committee is working to develop a handbook to educate consumers.”

Sanibel & Captiva Islands Association of Realtors

Yesterday, at the monthly meeting of the local Association of Realtors©, Florida Realtors Chief Economist Dr Brad O’Connor provided a Residential Market Update for Lee County. Though not specific to just the islands, he said that the county has seen many of the same trends as the state overall.

For example, what is bolstering home buyer demand? Florida still is a hot place to be right now but in-migration probably is slowing somewhat. Florida is an ideal location for “untethered” remote workers.  In Florida, housing overall is more affordable and spacious relative to Northeast and West Coast and job growth is solid.

Looking at population, Florida has experienced an increase of over 400K+ residents in a single year, with Florida 2nd only to Texas in growth. That’s over 1,100 new residents per day.

Out-of-state driver’s license exchange statistics continue to show that most new Lee County residents come from New York, followed by Illinois and Ohio, then New Jersey, Pennsylvania, Michigan, Massachusetts, Minnesota, and California.

The median price of closed existing home sales was up 55% in April 2023 compared to 2020, down just a little from the same month last year.

Below with data from the island MLS (Multiple Listing Service) are updated summary tables of the residential sales statistics specific to the islands and the action posted since last Friday in the MLS. There was little sales action this week, with just two Sanibel homes under contract and one Captiva condo. As mentioned before, that slowdown is usual for this time of the year before summer vacations begin.

Sales Scoop

SANIBEL

RESIDENTIAL

CONDOS HOMES LOTS
# Avg Price DOM # Avg Price DOM # Avg Price DOM
For sale 66 1,171,222 98 126 1,599,294 85 32 1,205,293 78
Under contract 10 814,390 71 34 1,447,119 76 4 603,500 13
Sold 2023 to 5/26 56 956,142 46 140 1,194,345 51 11 974.454 81
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 12 1,960,833 74 8 4,521,875 75 1 15,500,000 426
Under contract 5 842,800 85 2 4,772,500 153 0 N/A N/A
Sold 2023 to 5/26 4 1,100,500 121 8 2,960,500 60 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 May 19-26

Sanibel

CONDOS

1 new listing: Heron at The Sanctuary 1 #2A 2/2.5 $1.14M.

1 price change: Lighthouse Point #232 3/2 now $929K.

No new sales.

2 closed sales: Blind Pass #B208 2/2 $590K, Snug Harbor #121 3/2 $1.65M.

HOMES

4 new listings: 1643 Bunting Ln 2/2 $799K, 1241 Par View Dr 3/2 $799.5K, 754 & 756 Donax St duplex 4/2 $1.249M, 1067 Sand Castle Rd 4/2 $1.395M.

7 price changes: 1399 Albatross Rd 3/2 now $714K, 228 Daniel Dr 3/2.5 $995K, 425 Lake Murex Cir 3/2 $1.19M, 235 Palm Lake Dr 3/2 $1.355M, 1202 Sand Castle Rd 4/2.5 $1.629M, 896 Limpet Dr 3/3 now $2.15M, 963 Kings Crown Dr 3/3 now $2.299M.

2 back on market: 4752 Rue Helene 2/2 $699K, 513 Lighthouse Way 3/3 $2.295M.

2 new sales: 1105 Skiff Pl 3/2 listed at $895K, 5294 Umbrella Pool Rd 3/2.5 listed at $1.379M.

5 closed sales: 465 Lake Murex Cir 2/2.5 $645K, 1526 Bunting Ln 5/3 $690K, 1300 Par View Dr 3/2 $1.075M, 926 Lindgren Blvd 3/2 $1.35M, 1224 Buttonwood Ln 3/2.5 $1.425M.

LOTS

3 new listings: 1653 Bunting Ln $499K, 711 Cardium St $649.9K, 2651 Coconut Dr 1.395M.

No price changes, new, or closed sales.

Captiva

CONDOS

No new listings or price changes.

1 new sale: Bayside Villas #5302 3/3 $995K.

1 closed sale: Beach Cottages #1411 3/2 $1.45M.

HOMES

2 new listings: 17170 Captiva Dr 2/2 $3.25M, 11535 Murmond Ln 3/3.5 $3.495M.

No price changes, 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

Island Vegetation Knows It’s Spring

This week, during my travels I noticed one of my favorite gumbo limbo trees pushing out new growth. (It’s the gnarly one next to the bike path at Captain’s Walk.)

The rainy season has yet to begin in SW Florida, so it again is a sunny Friday, and I really can confirm that it is sunny on Sanibel as I moved home on Monday.

To say it is wonderful is an understatement. Sure, there is a punch list and there are a garage and trailer full of home and office items that Dave saved thinking some could be salvaged. It is amazing how many hard-surfaced things can be reused. I am becoming expert at hurricane-muck and rust removal.

I got a chuckle when Dave carried in a miscellaneous box of office things that included the slide rule from my desk. When I remarked “Wow, you saved this?” He said, “What is that?”

Seriously, I could not be where I am without him. He emptied both my home and our office, oversaw contractor progress, plus moved me umpteen times between apartments and home. Now we will both be able to better concentrate on real estate.

NAR: Existing-Home Sales Down 3.4% in April

The below article by Kerry Smith was posted yesterday on Florida Realtors. I find these articles worth the read since so often island buyers think the market here is like their market at home – wherever that may be. That usually is not true.

Even those that closely follow island real estate agree that Hurricane Ian may have caused a blip in our hot 2022 market, but more appreciation is right around the corner. I loved it when a client told me this week that he thinks home values will be up 10% in another 12 months.

Another said that the high interest rates must be affecting our sales. I bet the first prediction is correct, but I had to tell the second commenter that for decades most island buyers have paid cash. That is even more important when inventory is low and demand is high. Sellers are looking for “as is” cash contracts with strong deposits, no or few contingencies, and quick closings. Meanwhile, below is what is being reported nationally about recent sales:

“The U.S. inventory of for-sale homes grew a bit: 7.2% month-to-month. But it’s still only a 2.9-months’ supply – below the amount economists consider “balanced.”

“WASHINGTON – Existing-home sales decreased in April, according to the National Association of Realtors® (NAR). All four major U.S. regions included in the report registered month-over-month and year-over-year sales declines.

“Total existing-home sales – completed transactions that include single-family homes, townhomes, condominiums, and co-ops – slid 3.4% month-to-month for a seasonally adjusted annual rate of 4.28 million in April. Year-over-year, sales slumped 23.2%.

““Home sales are bouncing back and forth but remain above recent cyclical lows,” says NAR Chief Economist Lawrence Yun. “The combination of job gains, limited inventory and fluctuating mortgage rates over the last several months have created an environment of push-pull housing demand.”

“Total housing inventory at the end of April was 1.04 million units, up 7.2% from March and 1.0% year-to-year. Unsold inventory sits at a 2.9-month supply at the current sales pace, up from 2.6 months in March and 2.2 months in April 2022.

“The median existing-home price for all housing types in April was $388,800, a 1.7% decline from April 2022 ($395,500). Prices rose in the Northeast and Midwest but fell in the South and West.

““Roughly half of the country is experiencing price gains,” Yun says. “Even in markets with lower prices, primarily the expensive West region, multiple-offer situations have returned in the spring buying season following the calmer winter market. Distressed and forced property sales are virtually nonexistent.”

“Properties typically remained on the market 22 days in April, down from 29 days in March but up from 17 days in April 2022. Three out of four (73%) homes sold in April were on the market for less than a month.

“April market characteristics

  • First-time buyers were almost one-third (29%) of the market in April, up from 28% in both March 2023 and April 2022.
  • All-cash sales accounted for 28% of transactions in April, up from 27% in March and 26% the previous year.
  • Individual investors or second-home buyers, who make up many cash sales, purchased 17% of homes in April, a percentage unchanged either month-to-month or year-to-year.
  • Distressed sales – foreclosures and short sales – were 1% of sales in April, also unchanged month-to-month or year-to-year.

“According to Freddie Mac, the 30-year fixed-rate mortgage averaged 6.35% as of May 11 – down from 6.39% the previous week but up from 5.30% one year ago.

“Single-family and condo/co-op sales: Single-family home sales waned to a seasonally adjusted annual rate of 3.85 million in April, down 3.5% from 3.99 million in March and 22.4% year-to-year.

“The median existing single-family home price was $393,300 in April, down 2.1% from April 2022.

Existing condominium and co-op sales were at a seasonally adjusted annual rate of 430,000 units in April, down 2.3% from March and 29.5% year-to-year.

“The median existing condo price was $348,000 in April, an annual increase of 0.7%.

“Regional breakdown: Existing-home sales in the Northeast receded 1.9% from March to an annual rate of 510,000 in April, down 23.9% year-to-year. The median price in the Northeast was $422,700, up 2.8% from the previous year.

“In the Midwest, existing-home sales declined 1.9% month-to-month to an annual rate of 1.02 million, and down 21.5% year-to-year. The median price in the Midwest was $287,300, up 1.8% from April 2022.

“Existing-home sales in the South decreased 3.4% from March to an annual rate of 1.98 million in April, a 20.2% decline from one year ago. The median price in the South was $357,900, down 0.6% year-to-year.

“In the West, existing-home sales slipped 6.1% from the previous month to an annual rate of 770,000 in April, down 31.3% year-to-year. The median price in the West was $578,200, down 8.0% year-to-year.”

Sanibel & Captiva Islands Association of Realtors

Yesterday, I attended the monthly meeting of the local Association of Realtors© Professional Development Committee. Next week is our monthly general membership meeting where the speaker is Dr Brad O’Connor, Florida Realtors Chief Economist. I will have his local economic predictions to report after that presentation.

The Professional Development Committee is responsible for arranging the Association educational events, continuing education classes, and these meetings speakers. It was great to hear that Mayor Richard Johnson will be the presenter at our June meeting. Good plans for the rest of the year are in the works, including offering the 12 modules needed to earn our local designation (Sanibel and Captiva Islands Specialist). Most years, these classes are in the summer, but this year, they probably will be in late September/October which is when our Association Office spaces hope to be restored and ready for occupancy. (They twisted my arm to again teach the Resort & 2nd Home Module.)

In the meantime, the Association is very thankful that Midland Trust (on San Carlos Blvd, Fort Myers) and BIG ARTS (on Sanibel) are letting us to use their spaces for our offices/meetings/caravans.

Below with data from the island MLS (Multiple Listing Service) are updated summary tables of the residential sales statistics, plus the MLS action posted since last Friday.

Though 2023 is hardly typical, it is typical for sales to slack off this month, usually because many prospective buyers are otherwise busy with spring events at home, school activities and graduations. It also continues to be a problem for buyers wanting to come and stay on the island for just a few days to property search. A buyer I met with this week was a good 45 minutes away in a Ft Myers hotel. Fingers crossed we see more potential buyers here over the long Memorial Day weekend.

Commercial and condo recovery is slow, but I heard that accommodations managers are saying that by the end of the year they expect that 30% of their former inventory will be ready to rent. As I drove along the Gulf Drives yesterday and saw only a few complexes with workers, that seems a lofty goal, but I sure hope they are right. Tourism is so important to recovery. I noticed workers at Gulfside Place, Sanddollar, Sandpiper Beach, Sanibel Siesta, and Spanish Cay – plus a new sign at Sanibel Moorings went up today.

Sales Scoop

On the commercial side, several new real estate listings were posted this week:

  • 1149 Periwinkle Way, Suite #3, commercial condo $700K
  • 2000 Periwinkle Way, cottage real estate office, $949K
  • 1149 Periwinkle Way, Suite #2, commercial condo $1.349M
  • 1046/1048/1090 Periwinkle Way, site of Dairy Queen & 2 adjoining properties, $2M
  • 2400 Palm Ridge Rd, commercial/residential mix, formerly ReMax Center, $2.6M.

Also 1504 Periwinkle, former site of T-Shirt Hut, closed for $515K.

SANIBEL

RESIDENTIAL

CONDOS HOMES LOTS
# Avg Price DOM # Avg Price DOM # Avg Price DOM
For sale 66 1,169,100 92 123 1,622,171 82 29 1,242,228 79
Under contract 13 993,223 61 40 1,422,401 71 4 603,500 13
Sold 2023 to 5/19 53 934,415 46 135 1,200,380 50 11 974.454 81
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 12 1,627,500 67 8 6,037,500 111 1 15,500,000 419
Under contract 5 953,800 85 2 4,772,500 146 0 N/A N/A
Sold 2023 to 5/19 3 984,000 140 8 2,960,500 60 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 May 12-19

Sanibel

CONDOS

1 new listing: Wedgewood #204 3/3.5 $2.998M.0

2 price changes: Sundial #D309 1/1 now $435K, Sundial #D312 1/1 now $447K.

2 new sales: Tennisplace #C32 2/1 listed at $529K, Loggerhead Cay #592 2/2 listed at $825K.

5 closed sales: Tennisplace #A22 2/1 $437.5K, Atrium #202 2/2 $1.05M, Sanctuary Golf Village 1 #5-5 2/2.5 $1.298M, Seascape #305 3/3 $1.995M, Gulfside Place #213 3/3 $2.3M.

 HOMES

11 new listings: 1683 Atlanta Plaza Dr 3/2 $519K, 586 Boulder Dr 3/2 $699K, 9421 Moonlight Dr 3/2 $769K, 1251 Par View Dr 3/2.5 $875K, 209 Daniel Dr 3/2 $1,199,900; 1245 Anhinga Ln 3/2 $1.299M, 1306 Par View Dr 3/3.5 $1.55M, 1720 Dixie Beach Blvd 3/3 $1.799M, 6129 Starling Way 3/2.5 $1.878M, 500 Kinzie Island Ct 3/3 $2.775M, 1511 Angel Dr 4/3 $2.999M.

8 price changes: 1242 Par View Dr 3/2 now $795K, 438 Lake Murex Cir 2/2 now $849K, 1171 Seagrape Ln duplex 3/3 now $999K, 1018 Demere Ln 4/3 now $1.099M, 251 Christofer Ct 3/2.5 now $1.199M, 1003 Fish Crow Rd 4/4 now $1.4M, 2540 Coconut Dr 4/3.5 now $1.495M, 5750 San-Cap Rd 3/2 now $1.75M.

1 back on market: 913 Kings Crown Dr 4/3 $1.595M.

6 new sales: 442 Lake Murex Cir 3/2 listed at $650K, 5410 Osprey Ct 3/2.5 listed at $999,999; 1163 Kittiwake Cir 3/3 listed at $1.15M. 1724 Bunting Ln 3/2.5 listed at $1.295M, 3251 Twin Lakes Ln 3/2 listed at $1.315M, 513 Lighthouse Way 3/3 listed at $2.295M.

6 closed sales: 411 Lake Murex Blvd 3/2 $740K, 1230 Sand Castle Rd 3/2 $771K, 1283 Par View Dr 2/2 $950K, 1027 Kings Crown Dr 4/3 $1.32M, 657 Birdie View Pt 3/3 $1.57M, 640 Kinzie Island Ct 5/6.5 $2.975M.

LOTS

1 new listing: 4646 Rue Bayou $995K.

No price changes or new sales.

2 closed sales: 6017 Clam Bayou $997,775; 6019 Clam Bayou $1,002,225.

Captiva

CONDOS

1 new listing: Bayside Villas #5302 3/3 $995K.

No price changes.

1 new sale: Tennis Villas #3113 1/1 listed at $519K.

No closed sales.

HOMES

1 new listing: 15557 Captiva Dr 5/4 $4.995M.

No price changes.

1 new sale: 1 Sunset Captiva Ln 2/2.5 listed at $3.55M.

1 closed sale: 11530 Chapin Ln 3/2 $2.335M.

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

A Special Springtime Continues on Sunny Sanibel

It is another sunny Friday with SanibelSusan counting down the days when she is living back at home on the island. More progress this week on that happening soon.

What’s Open

Sanibel & Captiva Islands Chamber of Commerce has launched an app, Wander: Maps & Navigation. This GPS-enabled map allows users to see what businesses and beaches have opened, bike path accessibility, and more. The most common question on social media continues to be “where can I stay?” Many would-be summer vacationers obviously have not been following the restoration/rebuilding required for most hotels and condos to again become habitable. This app has some good info. Check it out at https://tinyurl.com/SanCapWanderApp.

Tarpon Bay Explorers & Refuge Hours

Tarpon Bay Explorers has cut back its kayak tours to Wednesdays only at 10 a.m. and tram tours to Thursdays at 10 a.m. and 1 p.m. Call 239-472-8900 or go online to make reservations. (Photo taken this afternoon.)

Current Refuge hours:

  • Wildlife Dr – 7 a.m. to 5 p.m. Saturday through Thursday (closed Friday). May through September, an admission pass to Wildlife Dr turns into a 3-day ticket. Reenter free for the following two consecutive days. (Note: With Wildlife Dr closed on Friday, pass is good for the next Saturday if the consecutive days fall on a weekend.)
  • Visitor & Education Center, & Refuge Nature Store – 9 a.m. to 5 p.m. Saturday through Thursday.
  • Tarpon Bay Explorers – 8 a.m. to 5 p.m. Monday, Wednesday, Friday, & Saturday (last rentals at 3 p.m.)
  • Bailey Tract – sunrise to sunset daily.

Emerging From Hurricane Ian: Stronger & More Resilient (Part 3)

The 3rd event in a community series hosted by the SanCap Citizens for a Resilient Future in collaboration with the City of Sanibel will be Monday, May 22 from 6 to 8 p.m. at BIG ARTS (or may be viewed remotely on The City of Sanibel Facebook page). The topic for this session is Lessons Learned: Emergency Response. Moderated by City Manager Dana Souza this program features a panel of professionals who led the Sanibel, Captiva, and Lee County emergency response to Hurricane Ian.

Sanibel Post Office

The temporary trailers are closed today and tomorrow while the Post Office is transitioning back into their restored building.

(Pix today showing disassembling of trailer accesses.)

Grant Agreement Approved for Beach Sand Nourishment

Sanibel City Council approved a grant agreement with the Florida Department of Environmental Protection in the amount of $13.08 million for the nourishment of sand on Sanibel’s beach. The grant was provided by the State of Florida during a Special Legislative Session held in December 2022. Staff informed the City Council that the earliest the project may take place is November 2023. The project cannot be completed within sea turtle nesting season. Additionally, permits and additional funding must be secured before the project may begin. Staff anticipates FEMA will also reimburse the City $10.2 million for the dune (berm) replacement on Sanibel. City staff will provide the City Council with monthly updates concerning the schedule and funding for this important beach nourishment project.

Florida’s 2023 Legislative Ends

The 2023 legislative session officially ended last Friday with the $117 billion General Appropriation bill approved by both houses. This 2023-2024 fiscal year budget is an $8 billion increase over the current budget but is supported by state revenue increases and a strong economy. SCCF’s weekly update provided some of the notable environmental budgets as:

  • $850M Florida Wildlife Corridor land acquisition including properties in SW FL between Dinner Key in Hendry County & Big Cypress Wildlife Management area in Collier County
  • $100M Florida Forever Land Acquisition Program
  • $100M Rural & Family Lands Acquisition & Conservation Easement Program
  • $25M Caloosahatchee River Watershed Water Quality Improvements
  • $20M Harmful Algal Bloom Mitigation
  • $5M Red-Tide Debris Clean-up
  • $75M Northern Everglades & Estuaries Protection
  • $50M Everglades Restoration.

For a complete list of local funding projects and bill updates, check the SCCF Legislative Tracker.

2023 Realtors Legislative Meetings

This week Realtor leaders from around the nation were in Washington DC for their legislative meetings. This annual event is when the National Association of Realtors (NAR) leverages the power of more than 1.5 million Realtors© to effectively advocate for the most pressing issues facing the real estate community. The Sanibel & Captiva Islands Association was represented along with our colleagues from our SW Florida district. We look forward to an update from our local Prez and Florida Realtors Chief Economist at our next membership meeting on May 25.

Sanibel & Captiva Islands Real Estate

Yesterday the local Association of Realtors© held a Caravan Meeting at BIG ARTS with six homes open for viewings after the meeting. With most condo complexes still under restoration/construction, we look forward to adding those properties to the viewing list when the communities are open.

Below are updated summary tables of island residential sales statistics, plus the action posted since last Friday in the island Multiple Listing Service.

On the commercial front, the former original “Gene’s Books” property, on the south side of Periwinkle, 2365 Periwinkle Way, is under contract (listed for $1.098M).

SANIBEL CONDOS HOMES LOTS
# Avg Price DOM # Avg Price DOM # Avg Price DOM
For sale 68 1,124,075 86 121 1,625,315 79 28 1,251,089 75
Under contract 15 1,115,393 57 41 1,462,990 77 6 751,962 7
Sold 2023 to 5/12 49 906,908 46 129 1,191,668 48 9 968,777 93
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 CONDOS HOMES LOTS
# Avg Price DOM # Avg Price DOM # Avg Price DOM
For sale 12 1,587,833 91 8 5,856,875 136 1 15,500,000 412
Under contract 4 1,062,500 16 2 4,195,000 30 0 N/A N/A
Sold 2023 to 5/12 3 984,000 140 7 3,049,857 65 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 May 5-12

Sanibel

CONDOS

5 new listings: Tennisplace #C32 2/1 $529K, Pointe Santo #D41 2/2 $1.15M, Shell Island Beach Club #6C 2/2 $1.35M, Sanddollar #A302 3/2 $1.65M, Chelsea Place #2 4/4 $4.195M.

1 price change: Sanctuary Golf Villages 1 #1-1 2/2.5 now $950K.

4 new sales: Seashells #16 2/2 listed at $455K, Blind Pass #B208 2/2 listed at $650K, Island Beach Club #340B 2/2 listed at $699K, Snug Harbor #121 3/2 listed at $1.699M.

4 closed sales: Oceans Reach #4B1 1/1 $425K, Seashells #3 2/2 $435K, Kings Crown #208 2/2 $840K, Oceans Reach #2D4 2/2 $875K.

HOMES

6 new listings: 1724 Bunting Ln 3/2.5 $1.295M, 1517 Sand Castle Rd 4/3.5 $2.195M, 513 Lighthouse Way 3/3 $2.295M, 1740 Dixie Beach Blvd 3/2.5 $2.395M, 1158 Golden Olive Ct 5/5.5 $3.395M, 408 East Bella Vista Way E 4/4 $3.75M.

9 price changes: 1326 Tahiti Dr 2/2 now $895K, 442 Lake Murex Cir 3/2 now $650K, 1284 Par View Dr 2/2 now $699K, Moonshadows #1A 3/3 now $849K, 557 East Rocks Dr 4/3 now $969K, 997 Fish Crow Rd 3/2 now $1.125M, 3311 Twin Lakes Ln 3/3 now $1.143M, 3205 Twin Lakes Ln 3/2 now $1.245M, 963 Kings Crown Dr 3/2 now $2.349M.

1 back on market: 505 Lighthouse Way 4/3.5 $2.349M.

7 new sales: 1937 Roseate Ln 2/2 listed at $459,555; 4752 Rue Helene 2/2 listed at $699K, 1332 Sand Castle Rd 3/2 listed at $990K, 241 Violet Dr 3/2.5 listed at $1.179M, 3050 West Gulf Dr 3/2.5 listed at $1.45M, 1057 Seahawk Ln 3/2.5 listed at $1.65M, 3611 West Gulf Dr 4/4.5 listed at $3.75M.

3 closed sales: 1198 Junonia St 2/2 $564K, 1398 Middle Gulf Dr #B 4/5.5 $1.15M, 3941 West Gulf Dr 4/4.5 $4M.

LOTS

4 new listings: 1331 Par View Dr $579K, 725 Donax St $750K, 1321 Seaspray Ln $995K, 4717 Rue Belle Mer $3.795M.

1 price change: 3730 Coquina Dr now $595K.

1 new sale: 1105 Shell Basket Ln listed at $649K.

No closed sales.

Captiva

CONDOS

1 new listing: Beach Villas #2514 2/2 $1.265M.

1 price change: Bayside Villas #5308 1/2 now $612.5K.

1 new sales: Beach Villas #2417 1/1 listed at $750K.

No closed sales.

HOMES

1 new listing: 11461 Old Lodge Ln 4/3 $3.15M.

1 price change: 1 Sunset Captiva Ln 2/2.5 now $3.55M.

1 new sales: 11401 Old Lodge Ln 2/3.5 listed at $5.995M.

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.

Best wishes to all the Moms!

Until next Friday, Susan Andrews, aka SanibelSusan

Lots of Sunshine & Progress on Sanibel

It is another sunny Friday here in Southwest Florida. No showers on-island yet this week, but noticeable new growth already from those last week. Wildflowers are popping up all over and trees sprouting greener. I was on-island this afternoon (sunroof open enjoying the 83-degree temps) and stopped about 3:30 to snap another picture of the bright teal water bayside. So much like the Caribbean and so beautiful this time of the year. Photo below from bay end of Buttonwood Ln.

As more properties are repaired, yards also are looking better. Many look better than they did before the storm.

I also saw many orchids blooming during my travels this week. Love those!

At SanibelSusan Realty

More roofers were working at Sanibel Square this week as we anxiously await work to begin on the inside. At home, appliances were delivered, so returning to live there now may only be weeks away. Furniture arriving next.

Dave and I were both productive with buyer prospects, though nothing to officially report yet. He showed investment condos on two days, while I showed canal-front homes. Lots of options for buyers to consider with some properties ready to be occupied, others needing from minor to extensive repairs.

The City had a Facebook Live event Wednesday night at BIG ARTS. Unfortunately, they had problems with the live transmission, but it was recorded and is still posted on their FB page for those interested in “Guidance on Restoring Your Sanibel Home”.

Following a couple of news items below are summary tables of island residential sales statistics and the action posted since last Friday in the island Multiple Listing Service. Good sales activity continues, particularly with Sanibel homes.

Yesterday at the April Membership Breakfast Meeting of the islands Association of Realtors, it was reported that there has been good restoration progress at the Association-owned building, which is at 2353 Periwinkle Way, behind Winds. Electric repairs are done, now awaiting final inspection. New HVAC to be installed next week, followed by repairs to roof trusses and southwest wall repairs before new roof.

Lee County Mosquito Control

The showers last week brought out skeeters, so last night and again tonight from sunset to 2 a.m. Lee County Mosquito Control District (LCMCD) advised the City that they are conducting aerial night missions. Weather permitting, by rotor wing aircraft, the areas of outer islands of Boca Grande, Useppa, Cabbage, Upper Captiva, Captiva, and Sanibel were treated. LCMCD provides mosquito control for Sanibel and all of Lee County. “Mosquito season” typically runs from May through October, and mosquito activity increases with rain, particularly after heavy rains that produce large areas of standing water. Due to the many mangroves, wetlands, and salt marshes, Sanibel is a prime breeding ground for mosquitos. Growing up on the Maine Coast, I often was covered with bites. Thanks to LCMCD, I rarely get them here.

Prescribed Burns on Sanibel

Last night an informational meeting was held at the J.N. “Ding” Darling Visitor and Education Center regarding Prescribed Burns on Sanibel. It was livestreamed on the Refuge Facebook page.

During the 2023 summer/fall season, the Sanibel Prescribed Fire Task Force is planning prescribed burns on the two conservation areas at the Refuge – the botanical site and on Legion curve. This year, fire season may be more active due to the damage caused by Hurricane Ian. The increased dead vegetation and decreased rainfall this time of the year pose a higher threat for wildfire. Prescribed burning in natural areas removes dead vegetation and replenishes nutrients in the soil, reducing risk of wildfire in adjacent communities and increases the health of habitats for recreation and wildlife.

When forecasted conditions are favorable, the Sanibel Prescribed Fire Task Force will issue notification that a prescribed burn is imminent and identify the specific location of the burn. All prescribed fires must be authorized by the Florida Forest Service on the morning of the burn.

To reduce the risk of wildlife around your home, the Sanibel Firewise Task Force recommends:

  • Trimming dead fronds from trees & tall grasses near homes,
  • Pruning large leafy hardwood trees so lowest branches are 6-10’ above ground,
  • Not storing combustible materials (like gas cans, firewood, building supplies) under or around homes,
  • Keeping mulch and other landscaping material well-watered.

For additional info, contact City of Sanibel Natural Resources Department at 239-472-3700.

Sanibel Rec Center Repairs

In a post from them today: “Positive recovery efforts continue at the Sanibel Recreation Center. The roof project has been fully completed and the replacement of the gymnasium maple floor and the pool geothermal heating/cooling units are well underway. We are anticipating a partial facility closure (closing of the lobby, weight room, gymnasium, Heron and Egret rooms) tentatively from May 15th though June 4th due to the fumes associated with the final lining and coasting of the new maple gymnasium floor. During this time, the pool, outdoor courts, fitness classes, and youth afterschool program will operate as regularly scheduled and front desk operations will be relocated to a mobile office in the front parking lot. The resurfacing of the outdoor courts and the restoration of the ballfields is on hold until osprey nesting season concludes in mid to late summer. We appreciate your flexibility and understanding as we continue to take strides forward!”

The same notice included info on several new fitness classes including Jazzed-up Dance, Group Strength, Balance and Core, also Zoom Barre and Zoom Tai Chi. Check out their full schedule on their Facebook page.

Sanibel & Captiva Islands Real Estate

 

SANIBEL CONDOS HOMES LOTS
# Avg Price DOM # Avg Price DOM # Avg Price DOM
For sale 73 1,071,892 74 131 1,535,826 75 25 1,222,880 73
Under contract 15 924,393 69 32 1,597,517 69 5 772,555 7
Sold 2023 to 4/28 44 934,420 45 123 1,142,165 47 9 968,777 93
Sold 2022 123 1,136,199 44 184 1,597,868 52 26 779,528 223
Sold 2021 287 875,127 113 355 1,341,881 89 69 698,862 442

 

CAPTIVA CONDOS HOMES LOTS
# Avg Price DOM # Avg Price DOM # Avg Price DOM
For sale 12 1,545,125 79 9 6,121.555 152 1 15,500,000 398
Under contract 2 1,375,000 15 2 3,195,000 47 0 N/A N/A
Sold 2023 to 4/29 3 984,000 140 6 3,008,166 64 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 April 21-28

Sanibel

CONDOS

4 new listings: Sunset South #1B 2/2 $629K, Blind Pass #B208 2/2 $650K, Sundial #C406 1/1 $699K, Sundial #D201 2/2 $875K.

3 price changes: Sundial #A303 1/1 now $798.5K, Sandpiper Beach #504 2/2 now $995K, Gulfside Place #308 2/2 now $1,387,555.

1 new sale: Mariner Pointe #533 2/2.5 listed at $699K.

1 closed sale: Seashells #38 2/2 $320K.

HOMES

4 new listings: 2991 Singing Wind Dr 3/2 $649K, 1565 Bunting Ln 3/2 $899K, 1425 Causey Ct 4/3 $1.395M, 1500 Middle Gulf Dr 3/3.5.5 $2.35M.

4 price changes: 9438 Moonlight Dr 3/2 now $714K, 1326 Tahiti Dr 2/2 now $945K, 617 East Rocks Dr 3/2 now $998,995; 1163 Kittiwake Cir 3/3 now $1.15M.

9 new sales: 1672 Atlanta Plaza Dr 2/2 listed at $449K, 1046 Sand Castle Rd 2/2 listed at $847K, 1720 Middle Gulf Dr 3/2 listed at 900K, 4565 Bowen Bayou Rd 3/2 listed at $1.15M, 1398 Middle Gulf Dr B 4/5.5 listed at $1.295M, 1027 Kings Crown Dr 4/3 listed at $1.495,555; 2643 Coconut Dr 3/2 listed at $1.499M, 657 Birdie View Pt 3/3 listed at $1.639M, 940 Beach Rd 4/4.5.5 listed at $2,999,999.

7 closed sales: 3301 Twin Lakes Ln 2/2 $605K, 647 Rabbit Rd 3/2 $720K, 1321 Par View Dr 3/2.5 $1.9M, 9484 Peaceful Dr $1.24M, 1015 Sand Castle Rd 3/2 $1.245M, 641 Lake Murex Cir 4/3 $1.405M, 1320 Seaspray Ln 3/4.5 $2.7M.

LOTS

3 new listings: 2505 Island Inn Rd $375K, 1105 Shell Basket Ln $649K, 651 Donax St $800K.

No price changes.

3 new sales: 6019 Clam Bayou Ln listed at $997,775; 6017 Clam Bayou Ln listed at $1.1M; 2563 Coconut Dr listed at $1.185M.

1 closed sale: 1746 Windward Way $445K.

Captiva

CONDOS

No new listings or price changes.

2 back on market: Bayside Villas #4122 1/2 $610K, Beach Cottages #1414 2/2 $1.495M.

No new or closed sales.

HOMES

2 new listings: 11511 Laika Ln 3/2 $2.195M, 16321 Captiva Dr 5/4 $4.35M.

1 price change: 11401 Old Lodge Ln 2/3.5 now $5.995M.

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.

Until next Friday, Susan Andrews, aka SanibelSusan

Wrapping Up 1st Quarter on Sunny Sanibel

As we pass the six-month anniversary of Hurricane Ian, sunny weather with temperatures in the mid-80’s continues. It is encouraging to see more recovery progress on the islands including the following updates this week:

Sanibel Home Mail Delivery – Yay! Mail delivery began on Monday to properties with mailboxes. It has been great to get mine at my home. It will be even better when I can move back home. It should only be weeks away now. The temporary post office quarters remain for pickup of post office box mail, commercial, and stamp sales, etc. The blue mailbox there is available for outgoing mail.

More Structures Coming Down – Wednesday driving by West Wind Inn, I saw their west-most buildings coming down, including former sites of Normandie Seaside Café, the pool bar, & many hotel rooms. More came down yesterday, continuing into today. (Yes, they are rebuilding, or so I heard.)

“Saltwater Kill” Tree Removal Underway – Some have questioned why many trees are coming down along streets within City public rights-of-way. These trees have been marked with spray paint following inspection by a certified arborist working with the City’s debris contractor. Their removed is as part of the post-hurricane “Saltwater Kill Tree Survey & Remediation Plan” which is described on the City website as a plan being implemented to address impacts that occurred due to saltwater inundation from Hurricane Ian. Marked are the trees that have become or have the potential to become hazardous within the public rights-of-way.

Signs of Rebuilding – Here and there where structures have come down, signs are going up indicating what is to be built in that location. This week, I noticed quite a few showing modular homes. Also, a sign went up in front of the now demolished “Island Cow” restaurant showing what the new building will look like.

Millennials Now Driving Luxury Market

From April 2023 “Florida Realtor” magazine: “Millennials are now driving the U.S. luxury homebuying market, a significant shift from the baby boomers, according to a recent trend report by Engel & Volkers. One key finding was that second home buyers are most likely to be married millennials or Gen Xers with children living in the household. Nearly all want this residence to be convenient for recreational activities and home amenities, including pools, gyms and spas.

“Nearly 60% of consumers looking to purchase a home above $3M were millennials, including work-from-anywhere professionals and executives. For first-time millennial and Gen Z buyers making more than $100,000 in yearly household income, neighborhood vibe, walkability and proximity to both restaurants and work were key factors in choosing a home.

”Baby boomers will continue to have a lasting effect on our economy, empowering millennials with financial means to largely drive the buy side of the real estate market in the years to come,” said Anthony Hitt, president and CEO, Engel Volkers Americas. “For real estate professionals serving the luxury segment, it’s important to understand and adapt to the evolving preferences of new generations who are taking up more space in the market.”

At SanibelSusan Realty

Still waiting for construction to begin at our office, but roof work continues at The Bean, plus clean-up where the two off-the-foundation buildings came down behind and next to our office.

Dave and I continue our daily work on the island. I showed property several times this past week (canal-front homes), fielded inquiries from buyers up north, followed up on action items with sales in the pipeline, and sent a variety of emails to prospective purchasers that should be buying now. Dave performed our weekly listing checks this morning, while Lisa continues with her weekly updates to our inventory reports (which always are in great demand).

If you are on island this coming Tuesday, April 4, be sure to come to BIG ARTS Performance Hall for the 6:30 p.m. concert featuring the Sanibel School choir, their Seahorse Chorale, plus the BIG ARTS Community Chorus singers. It’s free! Will be about an hour. With songs by each group individually plus four together, it’s bound to be fun. (I sure hope this old alto can keep up. The youngest of those kiddos is seven, while the eldest of our singers is 94.)

Sanibel & Captiva Islands Real Estate

The action posted since last Friday in the Sanibel & Captiva Islands Multiple Listing Service is after the inventory summary below.

The title companies report they have many closings today (last day of the 1st quarter) so next week once those sales are reported in MLS, my update will include a summary compared to last year. (Those prospects sitting on the fence waiting for more price reductions probably can keep wishing. Though there are plenty of price adjustments posted each week, that’s indicative of a strong market. There also are many sales reported. When there are more sales than new listings, the market turns. As the numbers will show, sales year-to-date are way ahead of last year at this time. Are prices adjusted for properties needing reconstruction? Sure, but Sanibel remains strong.)

Continuing also with an update on commercial offerings, the price of the site of the former Sandbar Restaurant (now demolished) at 2761 West Gulf Dr was reduced this week to $2.095M. Two commercial properties also came on the market. They may be purchased separately or together. 1544 Periwinkle Way for $1.695M and 905 Fitzhugh St for $1.295M, together for $2.8M (formerly Sanibel Seashell Industries, SeaShells.com).

SANIBEL

CONDOS

HOMES

LOTS

#

Avg Price

DOM

#

Avg Price

DOM

#

Avg Price

DOM

For sale

73

1,113,021

59

128

1,606,976

64

19

1,425,736

65

Under contract

14

671,064

56

41

1,406,158

39

4

500,000

19

Sold 2023 to 3/31

36

982,680

38

92

1,084,236

43

7

1,060,571

110

Sold 2022

123

1,136,199

44

184

1,597,868

52

26

779,528

223

Sold 2021

287

875,127

113

355

1,341,881

89

69

698,862

442

CAPTIVA

CONDOS

HOMES

LOTS

#

Avg Price

DOM

#

Avg Price

DOM

#

Avg Price

DOM

For sale

7

1,768,285

99

6

7,133,833

194

1

15,500,000

370

Under contract

3

905,000

13

2

3,195,000

42

0

N/A

N/A

Sold 2023 to 3/31

2

1,237,500

172

6

3,008,166

64

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 March 24-31

Sanibel

CONDOS

6 new listings: Sundial #I105 1/1 $374.9K, Seashells #40 2/2 $449K, Sundial #I104 1/1 $519K, Sundial I207 1/1 $599K, Sundial #G206 1/1 $599.9K, Sundial #I202 1/1 $615K.

2 price changes: Island Beach Club #220F 2/2 now $759K, Mariner Pointe #711 3/2 now $795K.

5 new sales: Seashells #38 2/2 listed at $415K, Seashells #20 2/2 listed at $469K, Loggerhead Cay #412 2/2 listed at $749K, Kings Crown #208 2/2 listed at $870K, Sanibel Surfside #122 2/2 listed at $995K.

5 closed sales: Sanibel Arms #B7 1/1 $280K, Sundial #H209 1/1 $615K, Mariner Pointe #642 2/2 $750K, Sanctuary Golf Villages I #4-1 3/3 $1.225M, Atrium #106 2/2 $1.605M.

HOMES

6 new listings: 4269 Gulf Pines Dr 2/2 $899K, 997 Fish Crow Rd 3/2 $1.295M, 1072 S Yachtsman Dr 3/2 $1.399M, 1326 Tahiti Dr 2/2 $1.495M, 1698 Coconut Dr 4/3 $1.698M, 1026 Fish Crow Rd 3/2 $1.996M.
 
18 price changes: 1835 Ardsley Way 2/2 now $498K, 1754 Windward Way 2/2 now $599K, 1811 Ibis Ln 2/2 now $630K, 4752 Rue Helene 2/2 now $699K, 1125 Captains Walk St 3/3 now $899K, 1448 Albatross Rd 3/2 now $929K, 617 East Rocks Dr 3/2 now $1.05M, 540 East Lake Rd 3/2 now $1.06M, 750 Sand Dollar Dr 2/2 now $1.075M, 1586 Century Ct 3/2.5 now $1.25M, 1398 Middle Gulf Dr B 4/5.5 now $1.295M, 1121 Sabal St 3/2.5 now $1.4M, 979 Whelk Dr 3/3 now $1,449M, 251 Christofer Ct 3/2.5 now $1.449M, 1202 Sand Castle Rd 4/2.5 now $1.695M, 4161 Dingman Dr 3/3 now $1,999,999; 1320 Seaspray Ln 3/4.5 now $2.995M, 940 Beach Rd 3/4.5.5 now $3.25M.

4 back on market: 1937 Roseate Ln 2/2 $537,555; 1520 Angel Dr 3/2 $1.222M, 915 Pecten Ct 5/5 $2.595M, 4697 Rue Belle Mer 4/6 $3.8M.

11 new sales: 470 Birdsong Pl 2/2 listed at $550K, 3301 Twin Lakes Ln 2/2 listed at $649M, 465 Lake Murex Cir 2/2.5 listed at $725K, 1679 Serenity Ln 3/2 listed at $749K, 4677 Rue Bayou 3/3 listed at $1.2495M, 4797 Rue Helene 3/2 listed at $1.35M, 918 Kings Crown Dr 3/2.5 listed at $1.449M, 1224 Buttonwood Ln 3/2.5 listed at $1.45M, 1520 Angel Dr 4/4.5 listed at $3.2M, 4449 Waters Edge Ln 3/3 listed at $3.499M, 4697 Rue Belle Mer 4/5.5 listed at $3.8M.

6 closed sales: 1140 Sandpiper Cir 3/2.5 $625K, 42208 West Gulf Dr 2/2 $725K, 3711 Agate Ct 3/2.5 $800K, 1140 Junonia St 3/2 $999K, 1290 Par View Dr 4/2 $1M, 645 Donax St 4/3 $1.52M.

LOTS

No new listings.

2 price changes: 2807 West Gulf Dr now $1.199M, 2761 West Gulf Dr now $2.095M.

1 new sale: 9268 Belding Dr listed at $435K.

1 closed sale: 328 Palm Lake Dr $630K.

Captiva

CONDOS

3 new listings: Bayside Villas #5208 1/2 $615K, Bayside Villas #5232 1/2 $655K, Marine Villas #906 2/2 $1.2M.

No price changes or new sales.

1 closed sale: Beach Villas #2235 4/3 $1.8M.

HOMES

No new listings or price changes:

1 new sale: 11530 Chapin Ln 3/2 listed at $2.395M.

1 closed sale: 11460 Old Lodge Ln 4/3 $2.399M.

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.

Until next Friday, Susan Andrews, aka SanibelSusan

Happy St Patrick’s Day from Sunny Sanibel

It’s another sunny Friday on Sanibel with temperatures not quite into the 80’s. A Happy Saint Patrick’s Day to all.

Really a delightful day to be on the island with the sunroof open and the gulf breezes blowing.

While there today to pick up mail, I did another drive-around to see any progress this week. Removal of downed vegetation continues while on Periwinkle, it was sad to see the demolition/removal of the buildings formerly housing Island Cow and Realty Title. It is progress none-the-less.

Traffic continues to be light, except as contractors are coming early mornings and leaving late afternoons. Driving the Gulf Drives, one sees workers, particularly roofers at many homes. There still isn’t a lot of visual activity at most condo complexes. Many have been fenced for weeks.

At SanibelSusan Realty, we had another nice closing Monday as Dave and I continue to view other properties for owners thinking of selling and buyers contemplating a purchase.

The action posted since last Friday in the Sanibel & Captiva Islands Multiple Listing Service is after the inventory summary below. There was more activity with homes, not so much with condos. A total of just seven new sales on Sanibel this week, compared to 23 new listings – certainly not the usual for March, but a good time for those that were waiting on the sidelines when inventory was low just a few months ago.

Another Sanibel commercial property also came on the market this week – site of Islander Trading Post which includes the building that was the store, plus a home and barn behind (1444 & 1446 Periwinkle Way), asking $5.955M.

Sanibel Update

There is another City Council meeting this coming Tuesday March 21 at 9 a.m. Fifth agenda item is a post-Ian update which I will follow and report on next week.

Below is the beginning of a post that the City issued yesterday. Go to www.MySanibel.com to read the full version. Lots of good info there on rebuilding/restoration.

“As the Sanibel Community recovers and rebuilds following Hurricane Ian, many citizens are anxious to return to the Island and restore their home to its former beauty. In some cases, structures will be demolished, and properties redeveloped. City staff knows Sanibel’s Land Development Code is complex and is necessary to maintain the island sanctuary characteristics that makes Sanibel so unique. The City of Sanibel staff is committed to helping residents and businesses be successful in completing repairs, renovations, and redevelopment.

“The Natural Resources, Public Works, Planning, and Building Departments have compiled important information regarding the Land Development Code to help residents undertaking renovation, restoration, and redevelopment projects. Following the guidance below will help to ensure properties remain compliant with the City’s Vision Statement, Sanibel Plan, and Land Development Code and help the community recover as we all work to restore this Sanctuary Island.

“The City of Sanibel staff will host a community workshop to present information and answer citizen questions on Wednesday, April 26, 2023, at BIG Arts. Please watch for future news releases that will provide more information on this workshop.

 

“Contact us at:

·        Natural Resources Department – sandnr@mysanibel.com or (239) 472-3700, Questions on replanting and beach restoration

·        Public Works Department – sanpw@mysanibel.com or (239) 472-6397, Questions on roads, road rights-of-way, drainage, or sanitary sewer

·        Planning Department – sanplan@mysanibel.com or (239) 472-4136, Questions on outdoor lighting or other development standards

·        Building Department – sanbuild@mysanibel.com or (239) 472-4555, Questions on the “50%” rule or building permit requirements….”

Events & Re-Openings

BIG ARTS Open House – Wednesday was a huge success and much fun. I saw many clients/customers at the BIG ARTS Open House, enjoying the film about the lighthouse, art exhibits, food/drink, and performances by the Community Band and Chorus. Here is the link that photographer Jim Anderson prepared that was played on the screen behind us when we sang the Crosby, Stills, Nash, & Young song “Sanibel”. Even the Mayor said she cried during that one! https://vimeo.com/user25047255/review/800301411/7f227afe23

BIG ARTS Community Chorus singing “Sanibel” 03-15-2023, photo by Robin Roberts.

If you’d like to hear the entire Chorus set, here is the YouTube link: https://www.youtube.com/playlist?list=PLYHKC0_1dYWS8rYM6rxbq_XJ_An9lf7Ow.

April 4 Concert With Sanibel School Choruses – Sanibel Community Chorus is performing jointly with the two Sanibel School choruses during their fundraiser April 4 at 6:30 p.m. at BIG ARTS. I sure hope we can keep up with them. Our singers ages go up to 94.

April 4 Wildlife Driving Opening – April 4, the J.N. Ding Darling Wildlife Refuge will open the gate to Wildlife Drive for the first time since the storm. The “Ding” Darling Visitor & Education Center will also reopen that day.

Sanibel & Captiva Islands Assoc of Realtors

Tuesday, I attended an Association Professional Development Committee meeting. Those continue to be via Zoom since our headquarters building at 2353 Periwinkle Way received structural damage during the hurricane. It may be another three to six months before we are back meeting there, but committee work continues with more classes scheduled for our members and speakers arranged for our monthly breakfast membership meetings. Next one of those is March 23, again at the Midland Trust building in Fort Myers.

SANIBEL CONDOS HOMES LOTS
# Avg Price DOM # Avg Price DOM # Avg Price DOM
For sale 68 1,170,793 59 130 1,621,879 52 21 1,353,571 67
Under contract 15 773,793 28 37 1,240,717 42 4 565,000 40
Sold 2023 to 3/17 28 1,059,303 37 80 1,105,203 42 6 1,132,333 111
Sold 2022 123 1,136,199 44 184 1,597,868 52 26 779,528 223
Sold 2021 287 875,127 113 355 1,341,881 89 69 698,862 442

 

CAPTIVA CONDOS HOMES LOTS
# Avg Price DOM # Avg Price DOM # Avg Price DOM
For sale 6 1,504,666 165 7 6,471,150 203 1 15,500,000 356
Under contract 2 1,207,000 147 2 3,197,000 39 0 N/A N/A
Sold 2023 to 3/17 1 675,000 66 5 3,130,000 55 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 March 10‑17

Sanibel

CONDOS

4 new listings: Oceans Reach #4B4 1/1 $749K, Seascape #302 3/3.5 $1.795M, Gulfside Place #208 2/2 $1.487,555; Seascape #305 3/3 $2.195M.

2 price changes: Sundial #C206 1/1 now $549K, Kings Crown #208 2/2 now $870K.

No new sales.

3 closed sales: Sealoft Village #107 2/2 $868K (SanibelSusan listing), Snug Harbor #221 2/2 $1.130M, Heron at The Sanctuary III #2A 3/3.5 $1.148M.

HOMES

15 new listings: 1937 Roseate Ln 2/2 $399,555; 465 Lake Murex Cir 2/2.5 $725K, 411 Lake Murex Blvd 3/2 $789K, 1105 Skiff Pl 3/2 $895K, 719 Nerita St 3/3 $899K,1270 Par View Dr 3/2 $949K, 1448 Albatross Rd 3/2 $959K,  4372 Gulf Pines Dr 2/2 $998K, 4797 Rue Helene 3/2 $1.55M, 3959 West Gulf Dr 3/2.5 $1.599M, 425 Lake Murex Cir 3/2 $1.6M, 657 Birdie View Pt 3/3 $1.639M, 985 Oyster Ct 4/4 $1.695M, 505 Lighthouse Way 4/3.5 $2.475M, 4449 Waters Edge Ln 3/3 $3.499M,

16 price changes: 1835 Ardsley Way 2/2 now $524K, 9225 Belding Dr 3/2 now $595K, 1399 Albatross Rd 3/2 now $734K, 1679 Serenity Ln 3/2 now $749K, 1145 Sabal St 5/4 now $790K, 1284 Par View Dr 2/2 now $799K, 969 Fish Crow Rd 3/2 now $845K, 3025 Poinciana Cir 3/2 now $849K, 9248 Kincaid Ct 3/2 now $899K, 1720 Middle Gulf Dr 3/2 now $950K, 4565 Bowen Bayou Rd 3/2 now $1.174M, 1036 Whisperwood Way 3/3 now $1.299M, 9048 Mockingbird Dr 3/3 now $1.299M, 9484 Peaceful Dr 3/3 now $1.337M, 2294 Wulfert Rd 4/4 now $1.85M, 5271 Indian Ct 4/4 now $2.549M.

3 back on market: 6141 Henderson Rd 4/3 $858K, 1304 Par View Dr 3/3 $900k, 2502 Wulfert Rd 4/4.5 $2.795M.

5 new sales: 1314 Tahiti Dr 3/2 listed at $699K, 1507 Angel Dr 3/2 listed at $1.222M, 9027 Mockingbird Dr 4/3 listed at $1.395M, 864 Limpet Dr 3/2 listed at $1.75M, 5721 San-Cap Rd 3/3.5.5 listed at $1.795M.

14 closed sales: 2623 Tamarind Rd 2/2 $365K, 1475 Sand Castle Rd 3/2 $697K, 1002 Kings Crown Dr 3/2 $775K, 9126 Mockingbird Dr 3/2 $800K, 3941 Coquina Dr 3/2 $850K, 428 Lighthouse Way 3/2.5 $899K, 1206 Par View Dr 3/2 $930K, 4775 Rue Helene 4/3 $962,555; 1442 Sand Castle Rd 3/2 $1.23M, 1034 Fish Crow Rd 3/2 $1.317M, 1208 Bay Dr 3/2 $1.5M, 3191 Twin Lakes Ln 4/2.5 $1.639M, 5395 Shearwater Dr 3/2.5 $2.4M, 3699 West Gulf Dr 6/4.5.5 $4.25M.

LOTS

4 new listings: 9268 Belding Dr $435K, 3730 Coquina Dr $639K, 395 Bella Vista Way E $1.875M, 4657 Rue Belle Mer $4.5M.

No price changes.

2 new sales: 1746 Windward Way listed at $495K, 460 Sawgrass Pl listed at $925K.

No closed sales.

Captiva

CONDOS

Nothing to report.

HOMES

No new listings, price changes or new sales.

1 closed sale: 11510 Chapin Ln 2/2 $1.2M.

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.

Until next Friday, Susan Andrews, aka SanibelSusan

Sustaining Sanibel = Strength & Smiles

SanibelSusan reporting another sunny summer-like Friday. There was lots of activity on the islands this week with more businesses opening, more events happening, more nails in tires (lucky me), and more wonderful weather. Unfortunately, it still is slow going on most of the reconstruction. As debris piles disappear, so do some buildings. The home next door to mine burned during the storm and now has been demolished. Those strong neighbors like so many others intend to rebuild/restore. It just is taking way longer than anxious owners imagined. It looks like I will have one more move before I’m back into my home, but the new HVAC system is “on” so that is progress!
At SanibelSusan Realty

Our office again was cleaned some this week, but reconstruction has not begun. Teammates Dave, Lisa, and I continue our daily routines both on-/and off-island. I showed homes Wednesday to some folks that had to stay in Punta Gorda as nothing closer was available. Dave accompanied a walk-through yesterday, with that closing now delayed until Monday. Big thanks to those sellers and Superior Title for being flexible!

Lisa again has updated our island inventory list which has become a popular document with owners tracking the market. Many have called us trying get an opinion of the value of their property today compared to just before the storm. With condos, particularly, this is not easily determined. Most complexes have had no sales since the storm because they cannot yet be accessed. Sales data is needed to provide a reasonable response to questions about market value. Is a property value reduced by the dollars that it will take to restore it? Of course, but we are not seeing distressed sales.
The action posted since last Friday in the Sanibel & Captiva Islands Multiple Listing Servic is after the inventory summary below. Homes sales continue to be brisk. Condo sales not so much, mostly because those prospective buyers want answers before they decide to come and look. Answers to questions like: When can the unit be occupied? Rented? What are the 2023 maintenance fees? Is there or will there be a special assessment? What is the damage? What repairs are owner responsibilities?

Sanibel Update

Between phone calls, I listened in Tues during The City post-Ian progress report update during the City Council meeting. A few highlights include:

·        Building & Planning Departments still in temporary location on Whiskey Creek in Ft Myers. They expect to relocate end March/early April into the City (former bank) building on Library Way. The number of permits issued continues to increase. Through March 5, 2,956 permits have been issued including 1,010 for roofs and 601 for emergency repairs from hurricane. Permit applications are being reviewed within 5 days, resubmissions processed in 3-5 days. A new Planner has been hired, to begin March 20. Also a new Code Enforcement Officer starts March 27.

·        More beach accesses and the boat ramp opened this week on March 6: Gulfside City Park and Bowman’s Beach reopened. Still no date for Turner or Lighthouse beach accesses to be open.

·        Traffic counts on the causeway continue to rise. For several days more than 6,000 vehicles came over.

·        Debris pickup now exceeds 2,031,381 cubic yards. Including 1,847,005 by Crowder Gulf and 184,376 from PPDR/CPDR/waterways. Deadline to apply for personal or commercial help through IanDebrisCleanup.com is March 29.

Tuesday also was election day, with four candidates running for two City Council seats. Congratulations to Mayor Holly Smith and Vice Mayor Richard Johnson. Together, they received 79% of the votes.

Events:

·        Last night at BIG ARTS was a 2-hour presentation sponsored by the SanCap Citizens for a Resilient Future, in collaboration with the City, SCCF, concerned citizens and an alliance of community organizations. Go to The City of Sanibel, Florida Facebook page to watch the video. Really good info, showing Sanibel at its finest.

·        Yesterday also was dress rehearsal for the Community Chorus for the BIG ARTS Open House scheduled next week, Wed, March 15. This free event begins at 2:30 p.m. with a movie about the lighthouse. The Community Band performs at 4:15 p.m., followed by Chorus at 5:15 p.m. Leslie Adams in catering. There also will be art exhibits and more. Those attending should be sure and stay for our chorus version of “Sanibel”, previously performed by Crosby Stills & Nash. Real estate photographer, Jim Anderson with JMA Photography, has prepared an island video (pre-storm) that will be played on the big screen when we sing that song. It’s terrific!

Sanibel & Captiva Islands Assoc of Realtors

Yesterday, the Association of Realtors© had their first Caravan since the storm. With our office building still being restored, it was held informally at Sanibel Deli with just five properties open for viewing.

SANIBEL

CONDOS

HOMES

LOTS

#

Avg Price

DOM

#

Avg Price

DOM

#

Avg Price

DOM

For sale

65

1,165,867

55

116

1,658,092

53

19

1,179,263

70

Under contract

18

830,716

29

46

1,302,729

40

2

420,000

54

Sold 2023 to 3/10

25

1,060,580

36

66

1,066,996

43

6

1,132,333

111

Sold 2022

123

1,136,199

44

184

1,597,868

52

26

779,528

223

Sold 2021

287

875,127

113

355

1,341,881

89

69

698,862

442

CAPTIVA

CONDOS

HOMES

LOTS

#

Avg Price

DOM

#

Avg Price

DOM

#

Avg Price

DOM

For sale

6

1,023,166

187

7

6,699,721

205

1

15,500,000

349

Under contract

2

1,207,000

147

1

2,399,000

16

0

N/A

N/A

Sold 2023 to 3/10

1

675,000

66

5

3,130,000

55

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 March 3-10

Sanibel

CONDOS

5 new listings: Seashells #20 2/2 $469K, Loggerhead Cay #592 2/2 $850K, Pointe Santo #B23 2/2 $949K, Pointe Santo #E6 2/2 $1.75M, Seascape #205 3/3 $2.995M.

3 price changes: Sundial #F203 2/2 now $799K, Sanctuary Golf Villages I #2-3 2/2.5 now $995K, Gulfside Place #117 2/2 now $1.375M.

1 back on market: Gulfside Place #213 3/3 $2.6M.

4 new sales: Sanibel Arms #B7 1/1 listed at $399K, Sunset South #10B 2/2 listed at $600K, Sundial #F403 2/2 listed at $795K, Gulfside Place #319 3/2 listed at $1.495M.

1 closed sale: Heron at The Sanctuary I #3-B 3/2.5 $1.015M.

HOMES

7 new listings: 1835 Ardsley Way 2/2 $549K, 922 Main St 3/1 $625K, 9225 Belding Dr 3/2 $650K, 1398 Middle Gulf Dr 4/5.5 $1.395M, 2540 Coconut Dr 4/3.5 $1.649M, 1057 Seahawk Ln 3/2.5 $1.65M, 5379 Shearwater Dr 4/3 $2.395M.

7 price changes: 1866 Ibis Ln 2/2 now $560K, 951 Sand Castle Rd 3/2 now $679K, 750 Sand Dollar Dr 3/2 now $1.197M, 851 Angel Wing Dr 5/4 now $1.595M, 925 Lindgren Blvd 3/1 now $1.595M, 1320 Seaspray Ln 3/4.5 now $3.5M, 4697 Rue Belle Mer 4/5.5 now $3.8M.

2 back on market: 658 Donax St 3/2 $795K, 3311 Twin Lakes Ln 3/3 $1.22M.

7 new sales: 1475 Sand Castle Rd 3/2 listed at $700K, 1526 Bunting Ln 5/3 listed at $750K, 9438 Moonlight Dr 3/2 listed at $734K, 1477 Albatross Rd 4/3 listed at $735K, 4144 West Gulf Dr 2/2 listed at $949K, 1300 Par View Dr 3/2 listed at $1.075M, 3615 West Gulf Dr 4/4.5 listed at $4.25M.

9 closed sales: 3181 Twin Lakes Ln 3/2 $660K, 720 Durion Ct 4/3 $875K, 1447 Albatross Rd 3/2 $900K, 6136 Henderson Rd 3/2 $1.05M, 1120 Olga Ave 3/2 $1.375M, 664 Gopher Walk 4/3.5 $1.415M, 4020 West Gulf Dr 2/2 $1.5M, 2324 Starfish Ln 3/2.5 $1.536M, 4781 Tradewinds Dr 3/2 $2M.

LOTS

1 new listing: 1746 Windward Way $495K.

No price changes or new sales.

1 closed sale: 1119 Seagrape Ln $1.2M.

Captiva

CONDOS

Nothing to report.

HOMES

No new listings, price changes or new sales.

1 closed sale: 11510 Chapin Ln 2/2 $1.2M.

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.

Until next Friday, Susan Andrews, aka SanibelSusan

Already Wrapping Up January 2023 Post-Ian

I apologize for this arriving so late tonight. The SanibelSusan Team has been busy including today when I worked with buyers making their first visit to the island. That turned into a long day, visiting essentially every community and covering what I call my geography tour of Sanibel. Of course, that includes info about lifestyle, utilities, amenities, shopping, health, insurance, living costs, etc.

I was worried not having driven buyers around for some time – with that not happening much during the pandemic – coupled with the island being in such a state of devastation. There was no need to worry, these folks knew about hurricanes and were wonderful. They have not yet decided between homes and condos, plus like many couples, they have some different preferences.

My day began with an early delivery to Superior Title with a closing checklist and contract for a new listing that sold quickly. After that began the geography tour which didn’t finish until dark (6:30-ish, now that the days are getting longer). My spiel on island weather including how most days are warm with bright blue sky sure didn’t fit the forecast today as it was overcast most of the day, barely getting in the 60’s. (I had to wear a jacket with my winter flip flops. That’s twice this winter.)

We stopped at Trader’s for lunch, where it was like old home week. Former Sanibel Mayor & Doc Ford’s owner, Marty Harrity, gave me a thumbs up and a pitch to these folks on how wonderful life is here. One of my BIG ARTs singing pals with her husband and family were at a nearby table and offered info on how great the fishing has been this week. Turns out they also cheer for the same football teams. Then at the table behind us was another Realtor pal who worked on the island for decades before moving north to be closer to grandchildren. It sure was a plus for these prospects to experience how warm and welcoming islanders are. Our small-town appeals to them!

At SanibelSusan Realty

Still no action on our office rebuild, but at my home, son Dave reported that drywall went up today. You can bet that I will be there checking it tomorrow. Hopefully progress will be quicker from here forward, as I moved into what I hope is my last Fort Myers rental this week. Please let it be the last stop before I am back living on island.

Dave spent time yesterday and today with appraisers and inspectors, while I put a condo under contract (in record time) on Tuesday, then on Wednesday posted the home in MLS, that sold Thursday. Those details are after a couple of news items below, plus the action since last Friday in the islands Multiple Listing Service.

Sanibel & Captiva Islands Association of Realtors®

Our 2023 local association Installation and Awards Event yesterday included a luncheon at Cielo. It was great to see so many smiling Realtors® again, including leaders from other Associations in our district, including Bonita and Naples. SanibelSusan earned Honor Society status for the 30th year and though I don’t want to admit to being old, I was the most senior Past President (1999) in the line-up when we performed the “passing of the gavel” ceremony to the 2023 President.

Congratulations to Amanda Curran, owner at Superior Title of Sanibel. (Her company holds our escrow deposits and handles most of our closings.) They are excited to be back on the island in their office in Tree Tops Shopping Center. She received the Association 2022 Affiliate of the Year award.

Sanibel Update

There was no City post-Ian update meeting this week, but Mayor Smith is great about posting news on Facebook. Thanks to her hard work regarding Sanibel mail, two mobile units were transported to the Post Office parking lot midweek. It will take some time for them to become operational, but that delivery in itself is progress in the right direction.

 Another City post-Ian progress update is scheduled for Tuesday at 5 p.m. at BIG ARTS Performance Hall. I will follow it on Facebook Live and post recaps on my Facebook pages, as usual.
 

Food

This week it was announced that Island Pizza is teaming up with Sweet Melissa’s chef for special meals on Thursdays and Fridays beginning next week Feb 2. Sweet Melissa’s Café building, next door to Island Pizza was taken down last week and will eventually be rebuilt.

Bleu Rendezvous French Bistro also announced yesterday that they hope to reopen in 30 days in a new location, at 751 Tarpon Bay Rd, adjacent to Tower Gallery. Their post said they will be open for lunch and dinner starting at noon, with non-stop Happy Hour, on Tuesdays through Saturdays.

Out on Captiva, Mucky Duck has reopened, while on Sanibel the Steeler’s flag is a wavin’ at The Great White Grill which also is open.

Island Real Estate

Below is another update of island inventory today from the Sanibel & Captiva Islands Multiple Listing Service. There were 23 homes listed on Sanibel this week, several including our listing in Lake Murex already are under contract. During the same time five homes came back on the market, and five had price reductions, with some of those selling too. Seventeen Sanibel homes sold and seven home closings occurred.

SANIBEL

CONDOS

HOMES

LOTS

#

Avg Price

DOM

#

Avg Price

DOM

#

Avg Price

DOM

For sale

33

1,112,633

63

100

1,470,398

47

14

666,928

81

Under contract

20

1,142,115

31

43

1,005,079

23

1

145,000

6

Sold 2023 to 1/27

5

1,068,000

46

17

969,441

47

4

1,318,500

80

Sold 2022

123

1,136,199

44

184

1,597,868

52

26

779,528

223

Sold 2021

287

875,127

113

355

1,341,881

89

69

698,862

442

 

CAPTIVA

CONDOS

HOMES

LOTS

#

Avg Price

DOM

#

Avg Price

DOM

#

Avg Price

DOM

For sale

6

1,127,333

174

7

7,279,007

149

1

15,500,000

307

Under contract

2

1,299,500

127

5

2,139,800

8

0

N/A

N/A

Sold 2023 to 1/27

0

N/A

N/A

2

5,700,000

59

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 20‑27

Sanibel

CONDOS

12 new listings: Seashells #42 2/2 $374K, Sanibel Arms #B7 1/1 $399K, Donax Village #10 2/2 $499K, Sundial #C206 1/1 $599K, Lighthouse Point #217 2/2 $699K, Sunset South #1A 2/2 $714K, Island Beach Club #220F 2/2 $795K, Mariner Pointe #642 2/2 $795K, Sanibel Surfside #122 2/2 $995K, Heron at The Sanctuary III-2A 3/3.5 $1.149M, Sanctuary Golf Villages I #4-1 3/3 $1.369M, Seascape #106 3/3 $2.975M.

2 price changes: Beach Road Villas #101 2/2 now $624K, Tigua Cay #487 3/3.5 now $2.75M.

5 new sales: Sunset South #10B 2/2 listed at $650K, Sunset South #3D 2/2 listed at $749.9K, Her on The Sanctuary #III-2A 3/3.5 listed at $1.148M, Gulfside Place #121 2/2 listed at $1.425M, Gulfside Place #102 3/3 listed at $2.198M (our sale).

3 closed sales: Lake Palms #3 2/2.5 $525K, Pointe Santo #D3 2/2 $675K, Pine Cove #A 2/2 $1.06M.

HOMES

16 new listings: 3181 Twin Lakes Ln 3/2 $679.9K, 1859 Farm Trail 3/2 $719.9K, 4752 Rue Helene 2/2 $799K, 1341 Par View Dr 3/2 $799K, 526 Bunting Ln 5/3 $800K, 4052 Coquina Dr 3/2 $800K, 591 Boulder Dr 4/3 $879K, 1145 Sabal St 3/4 $995K, 9248 Kincaid Ct 3/2 $1.025M, 1043 Blue Heron Dr 3/3 $1.195M, 1578 Sand Castle Rd 3/2 $1.199M, 1018 Demere Ln 4/3 $1.295M, 4628 Rue Belle Mer 3/3 $1.695M, 5271 Indian Ct 4/4 $2.599M, 3615 West Gulf Dr 4/4.5 $4.25M, 3941 West Gulf Dr 4/4.5 $4.25M.

3 price changes: 2623 Tamarind Rd 2/2 now $375K, 1679 Serenity Ln 3/2 now $847K, 1224 Buttonwood Ln 3/2.5 now $1.45M.

5 back on market: Moonshadows #1A 3/3 $949K, 557 East Rocks Dr 4/3 $999K, 241 Violet Dr 3/2.5 $1.295M, 2885 Wulfert Rd 7/6 $2.499M, 3699 West Gulf Dr 6/4.5.5 $5.695M.

17 new sales: 1413 Sandpiper Cir 2/2 1/2-duplex listed at $649K, 9126 Mockingbird Dr 3/2 listed at $650K, 3285 Twin Lakes Ln 3/2.5 listed at $699K (our listing), 458 Casa Ybel Rd 1/1.5 listed at $799K, 702 Durion Ct 3/2 listed at $829K, 4208 West Gulf Dr 2/2 listed at $849K, 214 Palm Lake Dr 3/2.5 listed at $849K, 1230 Sand Castle Rd 3/2 listed at $859K, 720 Durion Ct 4/3 listed at $899K, 1040 Kings Crown Dr 3/2 listed at $995K, 747 Birdie View Pt 3/3 listed at $999K, 729 Sand Dollar Dr 3/2 listed at $999,999, 1002 Kings Crown Dr 3/2 listed at $1.1M, 4775 Rue Helene 4/3 listed at $1.125M, 454 Surf Sound Ct 3/2 listed at $1.289M, 1120 Olga Ave 3/2 listed at $1.395M, 2450 Wulfert Rd 3/3 listed at $1.65M.

7 closed sales: 860 Rabbit Rd 2/1 $375K, 1282 Tahiti Dr 3/2 $559K, 4214 Old Banyan Way 3/2.5 $595K, 293 Palm Lake Dr 3/2 $662.5K, 954 Sand Castle Rd 3/3 $700K, 921 Strangler Fig Ln 3/2.5 $750K, 9094 Mockingbird Dr 4/3.5 $850K.

LOTS

Nothing to report.

Captiva

CONDOS

No new listings.

1 new sale: Beach Villas #2235 4/3 listed at $1.899M.

No price changes, 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.

Until next Friday, Susan Andrews, aka SanibelSusan

A Delightful 72 Degrees F on Sunny Sanibel 01-06-2023

It’s another Friday. Hard to believe that Hurricane Ian was here over three months ago. Now that the holidays are over, more owners are arriving for the first time. Very sad for many to see in person the level of devastation. Others say it’s not as bad as expected.

Teammate Dave and I continue to meet with them to discuss plans for restoration &/or selling. We have new listings in the works, while we also continue to work with buyers looking to take advantage of the unique situation the post-storm market presents.

On a personal note, I finally got a new main breaker box at my home this week. Fingers crossed that power is restored soon so that my new pool subpanel and pump are installed next. Dave keeps telling me that reconstruction will move more quickly once the electric is on. Meanwhile, he continues to work there plus assist with others needing help. While this weekend I will move for the 6th time since evacuation. Believe it when I say I now have more patience than pre-storm. It’s the only way!

The below photo was sent to me by blog follower Terry Dempsey from NH. His e-mail said, “We were saddened by what happened during the hurricane and pray for Sanibel to bounce back soon. We have wanted to visit but know with nothing open, we don’t want to get in the way… On New Year’s Eve, we enjoyed the sunset from Bunche Beach, being able to at least enjoy Sanibel Lighthouse from a distance. I wanted to send you these photos to share however you like. I thought it was fitting on the last night of such a tumultuous year, the sun set over the Lighthouse which still stands tall.” (Thank you for sharing, Terry.)

Sanibel Update

Causeway Travel – The causeway opened this week with the islands assessable to anyone, except during curfew which remains 9 p.m. to 6 a.m. Travel on/off island during those hours requires resident driver’s license or evidence of the need to be there.

Social media has been loaded with comments from visitors not knowing if they should come and help, either physically or financially to dine/shop, or to stay away and give the islands time to recover. As much as businesses need support, I believe that City leadership provides the best advice. Their Post-Ian Progress Update scheduled for Tuesday night again was canceled. One is scheduled next week, Tuesday Jan 10 at 5 p.m. Meanwhile, no public parking areas and only a handful of restaurants are opened.

Mail – Also the City announced yesterday that the Sanibel Post Office will not be operational until late summer, with pick-up to be continued indefinitely at Jetport Loop which certainly is a long trek for those back living on Sanibel. The Captiva Post Office is open, so an alternative for those folks is to open a post office box there and have their mail forwarded.

Recovery – Debris removal continues, but at a slower pace now. There still are mountains that need to go. Also noticeable is that more condo complexes are getting their grounds cleaned and buildings remediated.

Restaurant News – Saw a notice this week that The Pecking Order Fried Chicken & Pies will reopen this spring in a new location (former home of Rosie’s at 2330 Palm Ridge Rd).

BIG ARTS Community Chorus Resumes – Also received an email this afternoon that our Community Chorus will begin rehearsing next week. This is a non-auditioned choral class open to all singers of all ages and abilities. They will practice Thursday afternoons through Mar 30 with performances at the BIG ARTS Open House on March 15 and on April 4 at the Spring Sing with the Sanibel School. Let me know if you want to join us.

Want to Help With Cleanup?

J.N. “Ding” Darling National Wildlife Refuge – Refuge Cleanup with a Ranger takes place every Wednesday at 9 a.m. Meet at the Visitor & Education Center parking lot for a safety brief before traveling to the cleanup site of the week.

Participation is limited; preregister on EventbriteVideo

Sanibel & Captiva Islands Conservation Foundation – SCCF is holding more beach cleanups this month in conjunction with the The City of Sanibel, Florida! Two-hour shifts will be held between 7 a.m. and 1 p.m. on Jan. 10, 11, 17, and 18. Learn more and volunteer here: https://www.signupgenius.com/…/10c0d4dabae2ea7fac43…

SanibelSusan Realty Associates

I checked in with our landlord at Sanibel Square today and he still does not have a timetable for reconstruction and occupancy.

We continue to make our daily treks to the island and didn’t notice a big increase in traffic, until yesterday when the City announced that the Florida DOT contractor constructing the new bridges needed to limit traffic to one-lane from 7 a.m. to 5 p.m. I tried going about mid-morning thinking workers already had crossed, but waited in backup that stretched past the outlet malls, up McGregor. Dave was smarter and took his boat. Hopefully these delays will only be occasional, as there is lots of work to be done with material and contractor traffic expected to increase as more reconstruction begins.

Some island rental managers advise that many condo complexes won’t be ready for occupancy until late 2024. It won’t be surprising to see some buildings taken down and others rebuilt to current code. Some owners have asked, what happens to our investment if our building is destroyed? Good question.

We eventually expect to see a wave of condo owners looking to sell, like what is happening now with homeowners, particularly those that are in damaged non-conforming properties.

Below is an update of island inventory today from the Sanibel & Captiva Islands Multiple Listing Service. Then after a couple of news items is the action posted in the MLS since last Friday.

SANIBEL CONDOS HOMES LOTS
# Avg Price DOM # Avg Price DOM # Avg Price DOM
For sale 22 1,084,495 79 79 1,445,973 52 8 654,625 110
Under contract 13 1,290,061 49 32 1,115,196 15 4 1,459,500 72
Sold 2023 to 1/6 1 585,000 33 0 N/A N/A 0 N/A N/A
Sold 2022 123 1,136,199 44 184 1,597,868 52 26 779,528 223
Sold 2021 287 875,127 113 355 1,341,881 89 69 698,862 442

 

CAPTIVA CONDOS HOMES LOTS
# Avg Price DOM # Avg Price DOM # Avg Price DOM
For sale 7 1,237,571 162 7 7,369,150 165 1 15,500,000 285
Under contract 1 700,000 7 6 3,533,000 26 0 N/A N/A
Sold 2023 to 1/6 0 N/A N/A 0 N/A N/A 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

Five Trends That Will Shape Luxury Real Estate in 2023

Getting out of the hurricane mode for a minute to share this article by Melissa Dittman Tracey from the Jan 3, 2023 issue of REALTOR® Magazine:

“The luxury housing market, like most other real estate sectors, is adjusting to a slowdown. Affordability and home size are every bit as much on wealthy buyers’ minds as other consumers. “The reality is we are coming out of one of the best real estate markets in history,” Gary Gold, a luxury property specialist with Coldwell Banker Realty in Beverly Hills, Calif., notes in the latest Coldwell Banker Global Luxury Trends Report. “But that level of demand and price appreciation wasn’t sustainable.” Nearly 90% of respondents to the Coldwell Banker survey say they believe the real estate market will be better than or the same as 2022 for property investment. The following emerging trends were noted in the report.

“Smaller Homes Offer Greater Appeal – The pandemic-era trend of supersizing a home may be shrinking in popularity. Affluent buyers are embracing smaller properties for their 2nd- or investment-home purchases. Smaller luxury single-family homes between 2,500 and 3,5000 square feet sold nearly 19% faster than larger ones, according to the report. “Now that the pandemic has loosened its grip on lifestyle decisions, the big house may not be as much of a necessity as it was during 2020 and 2021,” the report notes. “Some affluent buyers may not need or want to work from home anymore. Schools are open again, and kids don’t need extra spaces for at-home learning and play. Others may be looking to return to city life, where smaller footprints prevail.” Further, higher home prices may prompt more downsizing, too. Many luxury buyers also tend to purchase in cash, so smaller homes may be appealing for their lower upfront costs.

“Buyer’s Remorse Grows – In the previous homebuying frenzy of the last two years, many buyers had to make hasty purchase decisions to beat the fierce competition. They now may regret their choice: About a quarter of survey respondents who purchased a home in the last two years say they are not satisfied with their property, citing lifestyle changes, property size, remote location, lack of neighborhood amenities or a return to full-time office work. This may prompt more luxury buyers to move. After all, more than two-thirds of survey respondents say current market advantages, like less competition and slowing growth in home prices, may change their minds about buying in the near future. However, some discontented affluent buyers may decide to keep their home and fold it into their real estate portfolio. 

“Global Buyers Return – International real estate transactions are back on the rise as foreign buyers eye U.S. housing—and Americans target destinations overseas. About 92% of U.S.-based respondents say they’re considering purchasing a property abroad. A strong U.S. dollar, the rising cost of living and surging home prices are among the top reasons driving interest in real estate overseas. Americans are showing the most desire for properties in Central America, Canada, Mexico, and parts of Asia. (Note: As of Jan. 1, a new Canadian law essentially bans foreign buyers from buying residential properties as investments for two years, with exceptions.) Also, the top international buyers in the U.S. (by dollar volume) are from China ($6.1 billion), Canada ($5.5 billion), India ($3.6 billion) and Mexico ($2.9 billion). Top U.S. destinations for foreign buyers in the U.S. are Florida, California, and Texas….

“Faith in Investments – Over a third of survey respondents believe real estate is the safest long-term investment, ranking higher than stocks and bonds, cryptocurrency, and pensions. They believe real estate as an investment can diversify a portfolio, offer long-term investment, provide financial gains from rental income and serve as an inheritance for their children, according to the survey. “Increasing numbers of the affluent appear to be gravitating toward real estate to create financial, emotional and psychological stability,” the Coldwell Banker report notes. They’re also showing greater optimism about returning to traditional luxury epicenters that have held long-term value (e.g. New York, Los Angeles, San Francisco, Chicago, and Boston). Further, the report shows, they’re targeting areas that are less likely to be affected by climate change. In the search for greater stability within their portfolios, luxury home buyers are showing demand for second and third homes in multiple locations, eyeing the diversity as a hedge against inflation.

“More Cash Deals – Higher interest rates over the last few months have promoted buyers to seek alternative financing methods. The wealthy are leveraging more cash in real estate transactions. “I think buyers don’t mind taking some money out of the stock market right now and putting it into something more tangible like luxury real estate,” Roger Pettingell of Coldwell Banker Realty in Sarasota and Longboat Key, Fla., writes in the report. Cash transactions are expected to continue increasing. All-cash sales comprised 26% of transactions in November 2022, up from 24% a year earlier, according to NAR data. Besides cash, wealthy buyers are using margin or stock portfolio loans and private bank loans, the report notes.”

Sanibel & Captiva Islands Multiple Listing Service Activity Dec 30 ‑ Jan 6

Sanibel

CONDOS

4 new listings: Sunset South #4C 2/2 $849K, Kings Crown #208 2/2 $889K, Loggerhead Cay #133 2/2 $999K, By-the-Sea #A102 3/2 $1.325M.

No price changes.

5 new sales: Lighthouse Point #119 2/2 listed at $589K, Sealoft Village #105 2/2 listed at $939K, Gulfside Place #121 2/2 $1.425M, Atrium #104 2/2 listed at $1.75M, Royale Tern #303 3/3.5 listed at $2.495M.

1 closed sale: Sundial #D403 1/1 $585K.

HOMES

11 new listings: 1314 Tahiti Dr 3/2 $779K, 719 Durion Ct 3/2 $789K, 4208 West Gulf Dr 2/2 $849K, 460 & 490 Old Trail 3/2.5 $875K, 214 Palm Lake Dr 3/2.5 $889K, 720 Durion Ct 4/3 $949K, 728 Sand Dollar Dr 3/2.5 $1.295M, 4775 Rue Helene 4/3 $1.295M, 241 Violet Dr 3/2.5 $1.295M, 2450 Wulfert Rd 3/3 $1.65M, 3191 Twin Lakes Ln 4/2.5 $1.793M.

3 back on market: 1925 Roseate Ln 2/2 $599K, 1585 Bunting Ln 3/2 $699K, 1206 Par View Dr 3/2 $995K.

8 price changes: 1044 Sand Castle Rd 3/2 now $699K, 9126 Mockingbird Dr 3/2 now $700K, 9094 Mockingbird Dr 4/3.5 now $895K, 1022 Lindgren Blvd 3/2 now $939.9K, 1283 Par View Dr 2/2 now $999K, 979 Whelk Dr 3/3 now $1.499M, 2543 Coconut Dr 3/2 now $1.695M, 2969 Wulfert Rd 6/6.5.5 now $3.595M,

5 new sales: 3384 St Kilda Rd 3/2 listed at $699K, 996 Greenwood Ct N (1/2 duplex) 3/3 listed at $779K, 9094 Mockingbird Dr 4/3.5 listed at $895K, 2402 Wulfert Rd 4/3.5 listed at $1.1M, 1034 Fish Crow Rd 3/2 listed at $1.349M.

1 closed sale: 749 Cardium St 3/2 $1.1M.

LOTS

1 new listing: 0 Gulf Pines Dr $749K.

No price changes, new or closed sales.

Captiva

CONDOS

1 new listing (under contract below).

No price changes.

1 new sale: Beach Villas #2617 1/1 listed at $700K.

No closed sales.

HOMES

No new listings, price changes or closed sales.

1 new sale: 11523 Andy Rosse Ln 5/5.5 listed at $4.799M.

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.

Until next Friday, fingers crossed that recover speeds up!

Susan Andrews, aka SanibelSusan