Fall Sanibel/Captiva Real Estate Market Update


 

Beach Path.jpgIt’s SanibelSusan, again reporting another week of wonderful fall island weather – sunny days with temperatures mostly in the 80’s. A cool front arriving tonight is expected to bring our first day – in a long time – of temps under 80 with more perfect weather expected right through the weekend and into next week.

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Sanibel & Captiva Islands Association of Realtors®

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Sanibel & Captiva Islands Association of Realtors President-Elect Joel Goodman & President Lori Pierot with SCCF’s Natural Resource Policy Director Rae Ann Wessel & Executive Director Erick Lindblad.

There was no local Realtor Caravan® Meeting this week, but the Sanibel & Captiva Islands Association of Realtors® yesterday announced presentation of a $4,500 check to the Sanibel-Captiva Conservation Foundation to help their efforts in providing guided tours of the Caloosahatchee and estuary to provide members of the public the opportunity to gain a personal experience and perspective on the river and the Everglades – its history, folklore, issues, and solutions. These are local RPAC (Realtor Political Action Committee) funds put to good use educating our community on the importance of a healthy ecosystem.

SanibelSusan Realty Associates

Sanibelsusan LogoWith the island picking up, I was out showing homes both Monday and again this morning, while teammate Dave held a condo open house on Wednesday. Several of our listings had showings this week too, with the activity posted in the Sanibel & Captiva Islands Multiple Listing Service below, after a couple of news items.

Market Update After 3rd Quarter 2016

statisticsNow that three-quarters of 2016 are over, it appears that Southwest Florida real estate sales this year will fall short of 2015. A recent article posted by an off-island “News-Press” Market Watch expert said:

  1. “Median home prices in Lee County are flat, down slightly in Collier County.
  2. The number of home sales in Lee County is down 17%,18% in Collier.
  3. Condo sales are down over 20%.
  4. $1 million+ market is down 13%.”

He also said “This is not a “lack of inventory” situation, as most non-sweet-spot segments are down or flat, except the $500-$1M range in Collier. That segment is up 9%. These numbers aren’t negative, they just “are”. SWFL is still the place to live, work or play.”

So how do Sanibel and Captiva sales compare in a similar analysis? The below statistics illustrate that though the islands officially are part of Lee County, in many ways, it is a totally different world here where there is less inventory and prices vary hugely. Compared to the same period last year (January 1 to October 20), this year:

  1. Median home prices on Sanibel are up 65%, up 84% on Captiva.
  2. The number of home sales on Sanibel is down 27%, but up 15% on Captiva.
  3. Condo sales are down over 15% on Sanibel, 50% on Captiva.
  4. $1 million+ market is down 10% on Sanibel, 28% on Captiva.

Going into season, there still are fewer condos and homes for sale on Sanibel than already have sold this year. The reverse is true on Captiva, where inventory is low, yet exceeds this year’s demand.

Upcoming Island Events

baileyfest 2012.jpg

Here’s an oldie from Bailey Fest 2012.

31st Annual Bailey Fest – is Sunday, 10/23 from noon until 4 p.m. Free & open to the public. If you are there for the opening event act, you will hear the BIG ARTS Community Chorus with yours truly in the alto section.

 

tween-waters-2016Hallo’Tween 2016 – is Saturday, 10/29 from 8 p.m. to 2 a.m., adult Halloween costume party at ‘Tween Waters with prizes awarded at midnight.halloween-kids

 

 

 

Trick or Treat Monday – 10/31 from 4 to 6 p.m. from vehicle trunks in the parking lot at Sanibel Community Church. Safe family fun with bounce houses and games, plus treats.

Cast Net Rodeo MCC-1-Esperanza_Woodring_-_Painted_Pants.jpg23rd Annual Esperanza Woodring Memorial Cast Net Rodeo – Saturday 11/5 with lessons at 8:30 a.m. & competition beginning at 9:30 a.m. www.baitboxsanibel.comSCCF logo

 

 

2016 Wines in the Wild – Saturday 11/5, SCCF fundraiser, held for the first time at SCCF’s Bailey Homestead Preserve from 5 to 7 p.m.

Inaugural Sanibel Blues & Jazz Festival sponsored by the Sanibel-Captiva Optimist Club– is Sunday, 11/6 at Bailey’s Center from 1 to 7 p.m. Limited tickets, but some still available. http://www.sanibelbluesandjazzfest.org

Local Politics

Ding Darling Society logoFor Florida registered voters, the J.N. “Ding” Darling Wildlife Society and SanibelSusan ask that you vote to help conservation:

Vote “Yes” on Conservation 20/20 which is an opportunity to help safeguard Lee County’s long-term economic and environmental sustainability and quality of life by continuing to protect the county’s exceptional natural resources, yet without increasing taxes.

Vote “No” on Amendment 1 which is a deceptively-worded amendment that creates barriers for future solar power competition and slows solar use for the future. Help keep solar rights in your own hands, not in those of the utility companies.

Sanibel & Captiva Islands Multiple Listing Service Activity October 14-21, 2016sancap GO MLS logo

Sanibel

CONDOS

7 new listings: Sundial West #C310 1/1 $439K; Blind Pass #F106 2/2 $459,999; Coquina Beach #3C 2/2 $479K; Sundial West #D304 1/1 $549K; Seawind #A103 2/2.5 $564K; Kings Crown #211 3/2 $899K; Golden Beach #2 3/2.5 $1.499M.

1 price change: Coquina Beach #4C 2/2 now $449.9K.

3 new sales: Casa Blanca #8 1/1 listed at $259,989; Mariner Pointe #943 2/2.5 listed at $595K; Sundial #P205 2/2 listed at $780K.

No closed sales.

HOMES

6 new listings: 2074 Wild Lime Dr 3/2 $579K, 3918 Coquina Dr 3/2.5 $939K, 1747 Jewel Box Dr 3/2 $1.175M, 6101 Starling Way 3/4 $1.295M, 2302 Wulfert Rd 4/5 $1.595M, 1743 Venus Dr 4/3.5 $1.799M.

1 price change: 4449 Waters Edge Ln 3/3 now $4.495M.

2 new sales: 615 Hideaway Ct 3/2.5 listed at $1.195M, 3675 West Gulf Dr 3/2 listed at $3.3M.

5 closed sales: 956 Dixie Beach Blvd 2/1 $305K, 5749 Pine Tree Dr 3/3 $610K, 9468 Peaceful Dr 3/2 $739K, 1112 Olga Ave 6/2.5 duplex $849.5K, 3792 Coquina Dr 3/3 $987.5K.

LOTS

3 new listings: Island Inn Rd $189,555; 4954 Joewood Dr $499K, 6053 Sanibel-Captiva Rd $1.395M.

1 price change: 976 Whelk Dr now $719K.

No new sales.

2 closed sales: Sabal Sands Rd $250K, 5290 Punta Caloosa Ct $265K.

Captiva

CONDOS

No new listings or price changes.

1 new sale: Bayside Villas #4102 1/2 listed at $305K.

No closed sales.

HOMES

2 new listings: 15161 Captiva Dr 4/3.5 $2.295M, 16181 Captiva Dr 5/5 $2.95M.

2 price changes: 16167 Captiva Dr 4/3 now $1.735M, 16177 Captiva Dr 2/2 now $3.45M.

No new or closed sales.

LOTS

Nothing to report.

(This representation is based, in whole, or in part, on data supplied by the Sanibel & Captiva Islands Association of Realtors® or its 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 general real estate activity in the community and does not imply that SanibelSusan Realty Associates is participating or participated in these transactions.)

enjoy-weekendUntil next Friday, enjoy your fall weather & remember to call The SanibelSusan Team if we may help you with island real estate!

Susan Andrews, aka SanibelSusan

Island Shelling Bonanza for Labor Day


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Sanibel Lighthouse beach yesterday 9/1/2016, photo by Andy Johnson, Sanibel Surveys

 

 

It is SanibelSusan reporting that all is well on Sanibel. The islands did not have much sunshine this week. It tried to peek out a little mid-morning, but this afternoon just brought another heavy rain band from Hermine. We certainly are thankful that tropical storm passed by yesterday with just a few showers, wind, and a little high water, before it developed into Florida’s first hurricane in 11 years.

Early today, it swept ashore near Tallahassee and may cause havoc over the few days as it heads through Georgia, the Carolinas, and the eastern seaboard. Certainly not what many want for their last holiday weekend of the summer.

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Photo of some found after the storm, photo by Pam Rambo, http://www.iLoveShelling.com

Though Hermine missed the islands, we knew she was out there as high tide about midday yesterday pushed water up over many docks and seawalls. High water washed over many sea turtle nests too.

 

Later, much of the island was without power briefly in the afternoon and then local TV stations were on the causeway late day filming the waves crashing across the bridge barriers. Really much to do about nothing. The locals are ready for some great shelling once the waves subside.

Holiday occupancy this weekend could be hit or miss with many properties now vacant after getting cancellations. Most flights in and out of the regional airport were posted as on time this morning, but interstate highway travel probably is hampered since north-south I-75 and east-west I-10 were in the cross-hairs of the storm.

Though it dropped a lot of rain on Florida, the storm’s path also spared Lake Okeechobee so should not result in increased water releases down the Caloosahatchee River. Sanibel Natural Resources director, James Evans, was quoted midweek as saying that “flows from the lake have actually decreased this week.” That’s what we like to hear!

The action posted this week in the Sanibel & Captiva Multiple Listing Service follows a few news items below. With September always the “slow” month on the island, it is a good time to preview property, sooo if you are thinking of buying, now is the time to look

Bailey-Matthews National Shell Museum

bailey-mathews shell museum signThe Shell Museum is starting an ambassador program which will train volunteers to be educational guides on Sanibel’s beaches. These trained volunteers will be on the beaches, wearing “ambassador” shirts, answering questions and training visitors about the ecosystem and Florida shelling laws. Training will start in October, call the museum for more info (239-395-2233 or 888-679-6450).

Inaugural Sanibel Jazz & Blues Festival

Sponsored by the Sanibel/Captiva Optimist Club, the first Sanibel Jazz & Blues Festival is planned at the Bailey’s Shopping Center on November 6 from 1 to 7:30 p.m. Proceeds to benefit college scholarships.

Headliners include: Matt Schofield, blues guitarist & singer from England; JP Soars & the Red Hots; and the local favorite Marty Stokes Band.

Ding Darling Society logo“Ding” Darling Wildlife Society – Friends of the Refuge New Web Site

Check it out at www.dingdarlingsociety.org

Closings/Openings/Moves

  • NewDocFords

    The new Doc Ford’s opening 9/9/16.

    Doc Ford’s – It’s finally happening! The Doc Ford’s on Rabbit Road will serve its last meals over the holiday weekend (on Monday Labor Day night), then it’s on to their new flagship location at the corner of Island Inn and Tarpon Bay Road across the street from Bailey’s Shopping Center. I had my last lunch at their old location today where they are excited, but sad to be saying goodbye. They will have an “open house” at their new building on Thursday, September 8, from 5 to 7 p.m., then the new restaurant will open officially next Friday, September 9. The menu at their new location will be the same. One of the biggest differences at the new facility is the size of the kitchen which is twice as big. The new restaurant is ~7,600 sq. ft. and seats about 225, similar to their old, but the new restaurant is all under one roof. The interior was built with mostly reclaimed materials. The wood is reclaimed and the lighting fixtures were taken from vintage boats and refurbished. http://www.DocFords.com

  • Ickle Pickle Children’s Boutique – has moved to Palm Ridge Plaza (across from CVS). www.ickle-pickle.com
  • MacIntosh Books & Paper – also has relocated to 2330 Palm Ridge Road, www.macintoshbooks.com

South Florida Housing

core logic logoAccording to a S&P CoreLogic Case-Shiller index released this week, South Florida (Palm Beach, Broward, and Miami-Dade counties) outperformed most of the nation with a 6.9% annual increase in home prices (in June).

CoreLogic Case-Shiller indexes cover states, counties, metros and ZIP codes across the US and help securities investors, mortgage banks, servicing operations, and government agencies make property valuations, assess and manage risk, mitigate losses, and control appraisal quality.

The growth in prices ranked these counties on Florida’s west coast beaches sixth among 20 metro areas nationwide. Portland, OR., led all areas with a 12.6% price gain, followed by Seattle (11%) and Denver (9.2%).

Dallas, at 8.9%, and Tampa, at 7.9%, were the only other markets with higher price increases than South Florida in June. The national average was 5.1%.

David M. Blitzer, chairman of the index committee for S&P, said that the housing market overall remains healthy, driven in part by a limited supply of homes for sale. “Nationally, home prices have risen at a consistent 4.8% annual pace over the last two years without showing any signs of slowing,” he said.

Housing analysts consider the index one of the best barometers of home prices. It measures the price of the same house over time, though the index trails local Realtor® association figures.

According to an article Wednesday in Fort Lauderdale’s “Sun Sentinel”, “South Florida Realtor® boards released reports last week for July showing annual price increases among single-family homes in all three counties despite declines in sales. Some agents say buyers are holding off because sellers aren’t pricing properties to market value.”

Sanibel & Captiva Islands Multiple Listing Service Activity August 26-September 2, 2016

Sanibel

CONDOS

5 new listings: Mariner Pointe 2/2 #522 $495K (our listing), Mariner Pointe #733 2/2 $519K, Mariner Pointe #533 2/2 $529K, Blind Pass #B203 3/2 $575K, Sundial East #L401 2/2 $749K.

Pool to bay view

View from Mariner Pointe #522

 

1 price change: Tanglewood #1A 3/2 now $1.1345M.

2 new sales: Loggerhead Cay #462 2/2 listed at $539K, Surfside 12 #B3 3/2 listed at $1.124M.

2 closed sales: Island Beach Club #210B 2/2 $584.15K, Sundial West #A203 1/1 $700K.

HOMES

2 new listings: 1040 Sand Castle Rd 3/2 $639K, 5125 Joewood Dr 3/4 $2.595M.

2 price changes: 5240 Caloosa End Ln 3/3 now $999.9K, 2118 Starfish Ln 4/5 now $1.849M.

No new sales.

5 closed sales: 1635 Sand Castle Rd 3/2.5 $435K, 975 Sand Castle Rd 3/2.5 $706K, 823 Limpet Dr 3/2/2 $1.18M, 2251 Starfish Ln 4/3.5 $1.189M, 4257 West Gulf Dr 4/4.5 $4.225M.

LOTS

No new listings or price changes.

1 new sale: 1837 Buckthorn Ln now $439.9K.

No closed sales.

Captiva

CONDOS

No new listings or price changes.

1 new sale: Marina Villas #807 2/2 listed at $670K.

No closed sales.

HOMES

2 new listings: 11535 Chapin Ln 4/4 $1.549M, 15133 Captiva Dr 3/3 $3.295M.

No price changes, new, or closed sales.

LOTS

Nothing to report.

(This representation is based, in whole, or in part, on data supplied by the Sanibel & Captiva Islands Association of Realtors® or its 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 general real estate activity in the community and does not imply that SanibelSusan Realty Associates is participating or participated in these transactions.)

labor dayUntil next Friday, wishing you a wonderful holiday weekend! Susan Andrews, aka SanibelSusan