It’s Not Black Friday Here – Bright Blue Sky & Sunshine

Happy day after Thanksgiving! The SanibelSusan Team hopes you had a good holiday. It’s pretty quiet in our office today, though the roadways and bike paths are busy as it is bright and sunny with temperatures in the low 80’s.

As the holiday approached, island traffic picked up significantly. It was back to looking like “season”. The rare overcast foggy morning, like Monday, brought out shoppers and more traffic directors at the 4-way stops. All good, as island businesses need activity.

Though there was no local Association of Realtors Zoom Caravan meeting this week (next meeting is Dec 3), there was plenty of activity posted in the Sanibel & Captiva Multiple Listing Service (MLS). The week’s MLS postings follow a couple of news items.

First an updated island inventory summary. It is shaping up to be a good year with an unbelievable bounce-back from the early pandemic months. With only 79 Sanibel homes for sale and over 300 sold this year, it will be interesting to see what happens over the winter. Not quite as extreme is the situation with Sanibel condos. There are under 100 for sale and nearly 200 sold to date.

Inventory numbers like that usually indicate a sellers’ market, but the sales this year have been a tad slanted regarding what products are selling. More mid-range homes and more high-end residential-type condos have sold, likely pandemic-driven and related to occupancy and safety. In the winter when the islands are busiest usually is when there are the most sales. This year that could be tempered because of inventory.

Condos Homes Lots
# Avg Price $ # Avg Price $ # Avg Price $
SANIBEL
For sale 96 773,127 79 1,911,043 55 805,241
Under contract 46 794,145 47 1,406,424 9 412,495
Sold year-to-date 150 731,868 254 948,367 20 632,418
Sold 2019 127 694,392 211 949,790 15 372,200
Sold 2018 155 720,617 218 1,112,747 21 602,095
Sold 2017 140 728,793 186 1,004,236 32 327,228
CAPTIVA
For sale 28 1,432,571 29 4,486,999 2 6,472,500
Under contract 6 783,000 8 2,548,375 1 795,000
Sold year-to-date 39 825,706 22 2,905,545 3 3,150,000
Sold 2019 29 1,037,077 17 2,737,503 1 1,375,000
Sold 2018 27 797,532 25 2,127,352 0 N/A
Sold 2017 34 671,551 22 2,457,022 2 2,312,500

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.

Farmers Markets & Christmas Trees

Captiva Farmers Market reopened this week. Those are on Tuesdays through April 27 from 9 a.m. to 1 p.m. at 5400 Plantation Rd at the entrance of South Seas Resort.

Sanibel Farmers Market reopened a few weeks ago. It is Sundays through May 30 from 8 a.m. to 1 p.m. at Sanibel City Hall, 800 Dunlop Rd. Local Roots also runs six other markets in SW Florida. More info about their start dates, hours of operation, and locations is on their website at www.LocalRoots.com.

Sanibel-Captiva Lions Christmas Tree Sale – begins tomorrow, Nov 28. All proceeds benefit local charities. Located next to Island Cinema in the Bailey’s Shopping Center, they offer fresh Michigan Fraser firs from 5 to 10’ plus wreaths and stands. Open 10 a.m. to 4 p.m. Wednesdays through Sunday, with island delivery and set-up available. On-line ordering also beings Nov 28 at www.SanCapLions.com.

City of Sanibel – COVID-19

On Tuesday, Acting Mayor Denham extended the island declared state of emergency due to COVID-19. Now it goes until December 1, 2020, unless further extended. (Per State Statute, the maximum duration for a Mayoral Declaration of Emergency is seven days and thus must be updated weekly as the emergency exists.)  The City face covering mandate remains in effect through the period.

From Florida Department of Health, Sanibel’s total accumulative number of COVID-19 cases since March 26 is 84. Cases are rapidly increasing here. NINE more cases in the last week.

Weeks-ending 3/29 through 5/31 – 2 months = 11 cases

Weeks-ending 6/7 through 8/30 – 2 months = 30 cases

Weeks-ending 9/6 through 11/1 – 2 months = 22 cases

Weeks-ending 11/8 through 11/22 – 3 WEEKS = 21 cases (that is seven more cases than last week)

Please stay vigilant – continue social distancing, hand washing, mask wearing, and avoid group gatherings.

U.S. Borders with Canada, Mexico Remain Closed Through Dec. 21

Posted Wed on FloridaRealtors®: “Don’t get hopes up for cross-border holiday travel. With the pandemic apparently escalating, the borders aren’t expected to open anytime soon.

“McLEAN, Va. – If you were hoping that the United States’ borders would reopen for holiday travel, don’t get your hopes up. The land borders with Canada and Mexico will remain closed through Dec. 21, Chad Wolf, acting secretary of the U.S. Department of Homeland Security announced on Thursday.

““In order to continue to prevent the spread of COVID, the U.S., Mexico, & Canada will extend the restrictions on non-essential travel through Dec. 21,” he wrote on Twitter. “We are working closely with Mexico & Canada to keep essential trade & travel open while also protecting our citizens from the virus.

“Canada’s Minister of Public Safety and Emergency Preparedness Bill Blair, wrote on Twitter that border-closure decisions “will continue to be based on the best public health advice available to keep Canadians safe.” Though these travel restrictions have been extended in monthly increments throughout the course of the COVID-19 pandemic, the borders are not expected to open anytime soon. The U.S. has the most COVID-19 cases of any country with more than 11 million, while Mexico and Canada have more than 1 million and 300,000, respectively.

““The pandemic seems to be escalating in both of our countries. That would seem to suggest that these measures are with us for a while,” Canadian ambassador to the U.S. Kirsten Hillman said Tuesday, according to Oregon Public Broadcasting.

“Both U.S. land borders were closed to all but essential traffic in mid-March after the coronavirus pandemic hit, with government officials announcing multiple extensions as case counts continued to rise, especially in the U.S. The previous extension, announced in mid-October, was due to expire Nov. 21. Despite the closure of land borders, U.S. citizens can still travel by air.

“Canada has begun allowing extended family members who live in the U.S. to seek an exemption allowing them to travel north amid these restrictions, provided they follow that country’s COVID-19 requirements. Lawmakers have called on President Trump to do the same on the U.S. side.”

Copyright © 2020, USATODAY.com, USA TODAY, Jenna Ryu; contributing, Jayme Deerwester and David Oliver. All rights reserved.

County Commissioners Approve Toll Transponder Agreement

From this week’s “Island Reporter”, “On Nov 17, the Lee County Board of County Commissioners voted to approve an agreement to allow motorists to use E-ZPass transponders – widely used along the East Coast and beyond – to drive on Lee County toll roads.

“The E-ZPass toll network includes 18 states throughout the Northeast and Midwest. The agreement would allow people who already have those transponders to use them on Lee County toll bridges….

“The agreement that allows the use of E-ZPass in Lee County is with the Central Florida Expressway, which joined the E-ZPass group in 2018. The Central Florida Expressway would process transactions with no transaction fee charged to the County.

“The transponders will be accepted locally starting early next year. Local motorists can continue to use LeeWay and SunPass transponders. For more information about Lee County toll programs, visit www.leewayinfo.com.”

The Double-Edged Housing Boom

Another good article by Lawrence Yun, NAR’s Chief Economist, in the November-December 2020 “REALTOR®” magazine:

“Eye-popping home sales and prices pose longer-term problems.

“Remarkably, in the midst of the pandemic, the housing market is in a clear V-shaped recovery. Sales for both existing and new home sales in August hit their highest mark since 2006. The data popped out as round numbers: existing-home sales at an even 6 million and new-home sales at exactly 1 million on an annualized basis, up 10.5% and 43.2% from a year ago. Pending contracts also hit an all-time high.

“Buyer activity this winter is unlikely to chill: Mortgage applications for home purchases are up about 30% compared to a year ago. Due to the extraordinary demand home prices have reached an all-time high. The national median home price was … up 11.4% from a year earlier. The strong price run-up is partly due to a latent boom in the luxury market and to a jump in multiple offers for starter homes. While those situations result in multiple “losers”, buyers are persevering. They aim to take advantage of record-low mortgage rates.

“Such a frenzy of activity, reminiscent of 2006 raises questions about a bubble and the potential for a painful crash. The answer: There’s no comparison. Back in 2006, dubious adjustable-rate mortgages taxed many buyers’ budgets. Today, buyers are taking out 30-year fixed-rate mortgages. Fourteen years ago, there were 3.8 million homes listed for sale, and home builders were putting up about 2 million new units. Now, inventory is only about 1.5 million homes, and home builders are underproducing relative to historical averages.

“But let’s look at current trends through a different lens. Escalating home prices will soon cause damage of a different sort, shutting out first-time buyers. That’s why more supply is critical. Only when home prices rise roughly in line with income growth can we say that the market is in equilibrium. Perhaps as people continue to flee crowded cities, new construction will get a boost. Greater flexibility to work from anywhere and improved broadband access in rural areas could spur home buying in remote areas, a market trend to watch for in the years ahead.”

Sanibel & Captiva Islands Multiple Listing Service Activity November 20-27, 2020

Sanibel

CONDOS

6 new listings: Sanibel Moorings #441 2/2 $585K, Cottage Colony West #125 1/1 $609K, Cottage Colony West #119 1/1 $619K, Heron at The Sanctuary II #2A 3/2.5 $869.5K, Sanibel Arms West #E4 2/2 $889K, Sanibel Arms West #D2 2/2 $960K.

4 price changes: Spanish Cay #A4 2/2 now $430K, Loggerhead Cay #373 2/2 now $662.5K, White Sands #23 2/2 now $1.099M (our listing, yellow arrow, followed by view), Sundial #L205 3/2 now $1.395M.

4 new sales: Captains Walk #B4 2/2 listed at $395K, Seawind #A108 2/2.5 listed at $527K, Sanctuary Golf Villages I #4-1 3/3 listed at $899K, Sundial #O405 2/2 listed at $1.25M.

6 closed sales: Sanibel Arms #D7 1/1 $315K, Mariner Pointe #952 1/1 $350K, Sandpebble #2B 2/2 $457K, Seawind #A103 2/2.5 $565K, Island Beach Club #320C 2/2 $829K, Plantation Village #322 3/3 $2.275M.

HOMES

6 new listings: 2985 Island Inn Rd 2/2 $649.5K, 1850 Farm Trl 3/2 $699K, 2464 Blind Pass Ct 3/2 $1.295M, 1366 Tahiti Dr 3/2.5 $1.4M, 4166 Dingman Dr 4/4 $2.2M, 950 Victoria Way 4/4 $2.3M.

2 price changes: 9277 Belding Dr 3/3 now $850K, 1672 Hibiscus Dr 3/2 now $899K.

6 new sales: 6141 Henderson Rd 3/2 listed at $658.5K, 3251 Twin Lakes Ln 3/2 listed at $819K, 3020 Turtle Gait Ln 3/2 listed at $849K, 6176 Henderson Rd 3/2 listed at $998K, 509 Lake Murex Cir 3/2.5 listed at $1.225M, 4381 West Gulf Dr 5/5.5 listed at $11.5M.

4 closed sales: 9248 Dimmick Dr 3/3 $675K, 1304 Par View Dr 3/3 $730K, 549 East Rocks Dr 3/2.5 $1.085M, 1520 Angel Dr 5/5.5 $1.4M.

LOTS

2 new listings: 6428 Pine Ave $305K, 1825 Long Point Ln $389K.

No price changes.

1 new sale: 3013 Poinciana Cir listed at $239.9K.

2 closed sales: 1048 Fish Crow Rd $323K, 4995 Joewood Dr $2.38M.

Captiva

CONDOS

No new listings, price changes or new sales.

3 closed sales: Bayside Villas #5218 1/2 $387.5K, Beach Villas #2522 1/1 $529K, Lands End Village #1608 3/3 $2.025M.

HOMES

2 new listings: 11431 Dickey Ln 3/2 $1.258M, 11551 Paige Ct 5/6 $6.495M.

No price changes.

2 new sales: 11523 Andy Rosse Ln 5/5.5 listed at $2.189M, 11555 Wightman Ln 3/2 listed at $3.695M.

No closed sales.

LOTS

No new listings, price changes, or new sales.

1 closed sale: 925 South Seas Plantation Rd $5.6M.

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.

Below is our ad from today’s “Island Sun”.

Enjoy your weekend! Susan Andrews aka SanibelSusan