It is Susan with another Friday update. Teammates often think I report too much about weather and traffic. In my defense, that is easy to do in the winter when the island is packed with visitors because the weather is so much better here than in some chilly areas. This week, I am changing things up. There will be no confirmation that since it still is high “season”, island weather is wonderful and traffic heavy.
Below are a couple of news items, followed by the first quarter sales statistics for both islands, then the action since last Friday posted in the Sanibel & Captiva Islands Multiple Listing Service. Supply and demand, like always, continue to control the market.
First a couple of photos from the spring flower explosion at my house. The gardenia bushes are popping and smell wonderful, while the bougainvillea and beach roses always make me smile. I hope you enjoy them too! Sorry I can’t include the aroma.
Island Ecology for New Residents
The Sanibel-Captiva Conservation Foundation is offering their last “welcome walkabout” for this season on Wednesday, April 13 at 10 a.m. If you are a new property owner on the islands – or would simply like to learn about what makes the islands special, join this walking tour to learn about the unique plants and animals, the islands’ steeped conservation history, and current challenges in keeping the islands a sanctuary. Register here; a $5 donation is suggested.
Prices Tripled in 13 U.S. Cities Since 2000 – Two in Florida
Posted Wednesday, April 6, online at FloridaRealtors®, the below article is sourced to Alix Martichoux, WCBD, Nexstar Broadcasting, Inc.
“In two Fla. cities, Miami and Tampa, prices rose more than 200% in a little over 20 years – No. 8 and No. 9 in the U.S. for price increase percentages.
“SAN FRANCISCO – The cost of housing – much like everything else – has gone way up over the past year. Low inventory and low interest rates have thrust the median price of a home in the U.S. up by nearly 20% in a single year.
“But the latest jump is just an acceleration of what’s been happening for 20 years. Most major cities have seen home prices increase substantially since 2000, with many seeing home values double or even triple.
“In some cities, the typical home value has more than tripled. San Francisco, for example, had a typical home value of $356,800 in 2000, according to data analyzed by real estate brokerage Clever; in 2022, the typical home value is nearly $1.4 million – a 290% increase, or nearly quadruple the value 22 years ago.
“San Francisco is often held up as the most extreme example of a housing market gone wild, but it’s not the only city where home values rose astronomically, even with falling home prices during the Great Recession around 2010.
“Clever analyzed the median sale price of homes in the 50 largest metro areas around the country and found 13 cities saw home values more than triple since 2000. The 13 cities where home values have gone up by more than 200% – i.e. tripled – since 2000 are:
- San Francisco (290% increase)
- Los Angeles (280% increase)
- Riverside, Calif. (278% increase)
- San Diego (275% increase)
- San Jose, Calif. (261% increase)
- Sacramento, Calif. (237% increase)
- Seattle (235% increase)
- Tampa, Fla. (223% increase)
- Miami(220% increase)
- Austin, Texas (209% increase)
- Portland, Ore. (207% increase)
- Phoenix (206% increase)
- Denver (204% increase)
“Several cities saw slower growth in home values, according to Clever:
- Cleveland (60% increase)
- Detroit (62% increase)
- Memphis, Tenn. (72% increase)
- Chicago (73% increase)
- Hartford, Conn. (87% increase)
- Cincinnati (88% increase)
- Birmingham, Ala. (90% increase)
- Louis (98% increase)
“Over the same time period, the national average increased 156% – or roughly 2.5 times – from $127,215 to $325,677, according to Clever’s full report.”
Sanibel & Captiva Home Price Increases
If you are wondering what home values have done on Sanibel and Captiva Islands during the same period, in 2000, the average Sanibel home sale price was $650,868. Today the average home sale price is $1,715,784, an increase of 164%. On Captiva, in 2000, the average home sale price was $2,134,459. Today, it is $3,678,750, an increase of 72%.
For condos, Sanibel average sale price in 2000 was $555,689. Today, it is $1,000,078, an increase of 80%. On Captiva, average condo sale price in 2000 was $644,113. Today, it is $1,413,323, an increase of 119%.
See more details below (info from Sanibel & Captiva Islands Multiple Listing Service on 4/8/2022).
|
Status |
SANIBEL | ||||||||
| Condos | Homes | Lots | |||||||
| # | Avg $ | DOM | # | Avg $ | DOM | # | Avg $ | DOM | |
| For sale | 13 | 1,245,923 | 68 | 14 | 2,425,821 | 38 | 10 | 1,635,700 | 263 |
| Under contract | 24 | 1,309,074 | 22 | 34 | 1,913,085 | 44 | 9 | 504,617 | 206 |
| Sold to-date 2022 | 53 | 1,000,078 | 45 | 72 | 1,715,784 | 67 | 11 | 656,909 | 206 |
| Sold 2021 | 287 | 875,127 | 113 | 355 | 1,341,881 | 89 | 69 | 698,862 | 442 |
| Sold 2020 | 193 | 733,136 | 174 | 189 | 950,426 | 161 | 23 | 606,233 | 393 |
|
Status |
CAPTIVA | ||||||||
| Condos | Homes | Lots | |||||||
| # | Avg $ | DOM | # | Avg $ | DOM | # | Avg $ | DOM | |
| For sale | 6 | 1,460,666 | 29 | 6 | 7,183,333 | 67 | 1 | 15,500,000 | 13 |
| Under contract | 4 | 2,337,250 | 27 | 3 | 9,798,333 | 236 | 0 | N/A | N/A |
| Sold to-date 2022 | 14 | 1,413,323 | 46 | 10 | 3,678,750 | 148 | 0 | N/A | N/A |
| Sold 2021 | 64 | 1,150,373 | 145 | 44 | 2,988,520 | 261 | 2 | 2,950,000 | 731 |
| Sold 2020 | 47 | 821,713 | 134 | 27 | 2,923,148 | 315 | 4 | 2,537,500 | 448 |
Sanibel & Captiva Islands Association of Realtor Thursday Caravan Meeting
There was light turnout again yesterday at the Association of Realtors® weekly caravan meeting. Two new listings were signed up for caravan viewing, but one was canceled because it already went under contract.
Just one new sale was announced, no new listings, no price reductions, but plenty of Realtors® with buyers looking to purchase.
Sanibel & Captiva Islands Multiple Listing Service Activity April 1-8, 2022
Sanibel
CONDOS
4 new listings: Loggerhead Cay #271 2/2 $925K, Gulf Beach #107 2/2 $1.049M, Pointe Santo #D44 2/2 $1.399M, White Pelican #124 2/2 $1.849M.
1 price change: Pointe Santo #D41 2/2 now $1.429M.
3 new sales: Sanibel Moorings #1042 2/2 listed at $869K, Sandalfoot #5A2 2/2 listed at $1.175M, Pine Cove #201 3/2 listed at $1.899M.
4 closed sales: Mariner Pointe #323 2/2.5 $649K, Breakers West #C1 2/2 $850K, Compass Point #162 2/2 $1.85M, Cyprina Beach #7 3/3 $1.927M.
HOMES
1 new listing: 1012/1014 East Gulf Dr 4/2 duplex $1.179M.
3 price changes: 1560 Royal Poinciana Dr 3/2 now $1.499M, 746 Windlass Way 4/3 now $2.275M, 2885 Wulfert Rd 6/5.5 now $2.295M.
4 new sales: 3822 Coquina Dr 4/3.5 listed at $1.595M, 733 Durion Ct 3/2 listed $1.695M, 788 Birdie View Pt 3/3 listed at $1.995M, 2915 Wulfert Rd 5/5.5 listed at $3.495M.
5 closed sales: 1398 Jamaica Dr 2/2 $850K, 1053 Seahawk Ln 3/2 $1.325M, 1405 Causey Ct 3/2 $1.5M, 500 Kinzie Island Ct 3/3 $2.295M, 2444 Harbour Ln 4/3.5 $2.711M.
LOTS
No new listings.
2 price changes: 5642 Baltusrol Ct now $379K, 5648 Baltusrol Ct now $379K.
1 new sale: 2348 Wulfert Rd listed at $329K.
No closed sales.
Captiva
CONDOS
No new listings or price changes.
1 new sale: Lands End #1610 3/3 listed at $3.7M.
1 closed sale: Beach Villas #2633 2/2 $1.399M.
HOMES & LOTS
Nothing to report.
This representation is based in part on data supplied by the Sanibel & Captiva Islands Association of Realtors® Multiple Listing Service. Neither the association nor its MLS guarantees or is in any way responsible for its accuracy. Data maintained by the association or its MLS may not reflect all real estate activity in the market. The information provided represents the general real estate activity in the community and does not imply that SanibelSusan Realty Associates is participating or participated in these transactions.
Enjoy your weekend. I’ll be back next Friday,
Susan Andrews, aka SanibelSusan
It’s another happy Friday on Sanibel as Florida braces for a cool front that is expected to swoop through the state over the weekend. Though this afternoon is bright sunshiny and 80+degrees F, with gulf and bay waters the brilliant teal color so loved. Winds are expected to pick up over night with a fast storm bringing heavy rain forecast to come through tomorrow morning. Hopefully the weathermen are correct in saying it will pass through Lee County quickly.
Community Seminar Series – Flood Insurance
F.I.S.H. Bunny Basket Drive
Census data tells an interesting story about our increasingly multicultural country. Below are excepts from the “Measuring America” article in the Winter 2022 issue of “Realtor” magazine.
Until next Friday!
It’s another happy sunny Sanibel Friday.
Here in the office, the team and I have tied up loose ends for upcoming closings, arranged for weekend showings, and again commiserated that we need more listings.
“And yet frivolous lawsuits and ludicrous accusations swirl around the media from people trying to make a buck off blatantly misleading claims that real estate agents are no longer valuable in the internet-age. Of course, most people who have bought or sold a house remember having a real estate agent by their side every step of the process. Most likely, they had a Realtor® – a member of the National Association of Realtors® – guiding them through everything from price negotiations and lender applications to open houses and final inspection walkthroughs. Most people would prefer to not figure all of that out on their own in the midst of the most complex and consequential financial transaction of their lives.
“The Federal Reserve announced it would be raising its funds rate multiple times this year and says it will address this more at its next meeting, March 15 and 16.
Sanibel
Susan here, once again touting Florida’s wonderful summerlike weather, alerting you about the traffic, and complaining that we don’t have enough inventory for the many buyers looking to rent or buy on the islands.
Here at the office, we continue to get buyer requests. It was great to put another home under contract on Sunday. On the other hand, it really hurt Monday when I had to tell a long-time visitor with a budget of $1M, that there are only three Sanibel condos and one home for sale with that price limit. Those listings probably would already be under contract, but they are occupied with guests so difficult to show.
Yesterday, was the February Monthly Membership Meeting of the local Association of Realtors®. James Evans, new CEO of the Sanibel-Captiva Conservation Foundation (SCCF) was the guest speaker. James has a wonderful history on the islands from when he first began working for the city, two decades ago, as Natural Resource Director. He later was SCCF Environmental Policies Director, when last November, he was selected as their new CEO, a position he assumed in January.
James also encouraged Realtors® and the public to attend the March 10 South Florida Water Management District governing board meeting which will be held at The Community House. It begins at 9 a.m. Islander Chauncey Goss, chairs that board.
Though not our favorite subject, it was informative to read the Police Chief’s annual report to the City Manager which was posted on-line this week on 
Susan here, reporting another great week on the islands. Traffic is heavy as it typically is mid-February, so patience is required as we share the roadways with the many visitors here enjoying the sunshine. Midweek temperatures jumped back up into the high 70’s/low 80’s, making for happy locals, snowbirds, and vacationers.
At SanibelSusan Realty, we continue to write/field offers, were happy to have another listing close, and look forward to more inventory so that we may meet the demands of the many prospective buyers waiting in the wings.
From the March 2022 “FloridaRealtor®” magazine: “For decades, Florida has been a favored destination for U.S. and international buyers seeking vacation homes or primary residences. The COVID-19 pandemic shifted some, but not all, of those inbound migration trends.
FYI, admission to Wildlife Dr will be fee-free on Monday, Feb 21, in honor of President’s Day. As a federal holiday, the administrative offices and Visitor & Education Center, including the Refuge Nature Store, will be closed, however, the restrooms will remain open during Wildlife Dr hours, 7 a.m. to 5:30 p.m. Tarpon Bay Explorers also is open for business that day from 8 a.m. to 5 p.m.
Posted this week by SCCF: “February 15th marks the official start of snowy plover nesting season in the state of Florida however our Sanibel plovers have not checked their calendars and were resting in a small group by the lighthouse this morning rather than pairing up to establish nesting territories. Typically, on Sanibel, the first nests are located in late March or early April. If you want to learn more about how you can help protect our beach nesting birds click here: 
Enjoy your long weekend!
Yesterday at the Association of Realtors® weekly Caravan Meeting, there were no properties open for viewing and no new listings announced. First time that has happened in my 30 years attending those meetings.
Posted Tuesday on FloridaRealtors® and sourced to “The Palm Beach Post”, by Kimberly Miller
Til next Friday,
From Perfection Lawn & Pest Control’s January/February newsletter with some iguana info:
“WASHINGTON (AP) – Average long-term U.S. mortgage rates were flat for a third straight week after rising about a half percent early in the year.
As you probably have seen on the news, Southwest Florida received local and national weather alerts early Sunday morning when the cool front passing through showed signs of rotation and tornado activity. With significant damage on the mainland along a stretch beginning just north of the outlet mall, it was a surprise that here on the islands, there was essentially no damage. Astounding also that the tornado was only on the ground for a few minutes and could create so much devastation. Always heed those weather alerts!
If you didn’t already know, Florida was – and still is – the state with the most Realtors®, sometime years jockeying back and forth with California on which one has the most. Marcia said that today, DBPR (Florida’s Department of Business and Professional Regulation) reports that over 450,000 state licenses have been issued. Of those licenses, 218,000 are for real estate sales associates (like Dave, Lisa, and Elise), 22,000 are broker associates, and 42,000 are brokers (like me).
Another tidbit that I heard today is that the average age in Florida is 42. That’s not a new number, but illustrates that Florida is not just for retirees. In fact, with the increase in Florida sales during the pandemic, that number may be getting smaller. FYI, the highest average age is in my home state of Maine, where it is a little more than age 45. Come to Florida where age is just a number, more specifically to the islands where outdoor life is enjoyed year-‘round.
Today is the grand opening of Tutti Pazzi in the former location of Matzaluna Italian Kitchen at 1200 Periwinkle Way.
At SanibelSusan Realty, teammate Dave had a busy week accompanying home inspections both Monday and Tuesday, followed by a contractor visit to one of the properties today. With many year-end closings and our island inventory list updated, we all have been working on the database for our big annual mailout which we hope to send out later this month.
On Sanibel, our annual Association of Realtors® lnstallation and Awards Breakfast is next Thursday at The Community House.
Here’s an article posted at FloridaRealtors® on-line on Dec 20, 2021 and sourced to the South Florida Sun-Sentinel:
Several real estate forecasters have published their 2-cents worth on what 2022 will bring to the business. Here are some favorites that likely apply to real estate on Sanibel & Captiva.
Susan here, reporting that Florida warm weather continued this week with daytime temperatures in the high 70’s to mid-80 degrees F. Island roadways have been getting busier by the day with early arrivals of holiday visitors.
Our phones were noticeably quieter this week, probably with many shopping and concentrating on upcoming celebrations.
This morning, I had a pre-closing walk-through and seller document signing at Superior Title, before the actual buyer walk-through on Sunday, and closing on Monday. Title companies are super busy in December with many sales to finalize before the end of the year. We always appreciate when some of the closing activities can be done before the actual closing day, especially with holidays fast approaching. That will be our last closing of 2021 and a nice one to report next week.
Always fun this time of the year to remember some familiar tunes that have been modified to fit our island paradise. Here are a couple of songs that the BIG ARTS Community performed in past years and still apropos now. Bet if you read the words, you start humming.
This one with words modified by Mike Bugler is to the tune of ”Here Comes Santa Claus”:
SFWMD began in 1949 and expanded as a result of the Water Responsibilities Act of 1972. Today several projects are underway that are part of the solution to improving Florida’s water quality. The C-44 reservoir project which mostly affects the St. Lucie River and Florida’s east coast was just completed in November. The filling of that reservoir has just begun. This is the first major project to be completed in 21 years. (I can attest to that with our local and state Realtors® working hard during that time to keep water issues in the hearts and minds of FL property owners and their legislators. The fight must continue as water is a major ingredient in real estate here.)
expected to complete in May 2022. About 67% complete now, you can see it on the right on Rte 80 on way to LaBelle. The storage reservoir for that project is expected to be completed in Dec 2023 and will be ~3 miles by 6 miles (that’s like half the size of Sanibel).
At their Dec 7 Lee County Board of County Commissioners meeting, funds were approved for local beach and shoreline projects including approximately $2.43 million for Sanibel/Captiva. The commissioners voted to approve interlocal agreements to fund 17 projects across Lee County using more than $4.5 million tourist development tax dollars. Among the agreements, Sanibel will receive $2,070,100 and the Captiva Erosion Control District (CEPD) will get $358,500.
On Sanibel, the City requested and received in full: $1,605,100 for facility beach maintenance, $225,000 for the Bowman’s Beach bridge replacement, $200,000 for changing room rehabilitation at Bowman’s Park, and $40,000 for beach erosion monitoring.
New Restaurant Alert