For as slow as March was, April has more than made up for it. Actually, for the first 4 months of 2010, Sanibel Island and Captiva Island have been busy. Sanibel Island has seen the inventory go down and the number of houses and condos sold and under contract go up! The prices, while still low, are holding a bit more than before. We have not started to see price increases and the number of price reductions has slowed. Below is a chart of the 2010 activity on both Sanibel Island and Captiva Island.
Activity - January - April 2010
Sanibel Island
Captiva Island
Houses
Active Listings
268
92
Under Contract
32
1
Closed
48
4
Condos
Active Listings
241
71
Under Contract
34
5
Closed
42
8
Vacant Land
Active Listings
119
15
Under Contract
2
1
Closed
8
1
Contact me if you would like additional information about what is going on in Sanibel Island and Captiva Island Real Estate.
My clients who are interested in Sanibel Island Houses for sale (vs. Sanibel Island Condos for sale) have asked me about the trend in prices and number of sales over the past 10 years. The findings are quite interesting.
As you can see from the statistics below - the average price rose right through 2006, however the number of homes sold actually started to decline in that year. Prices have continued to pull back and we are heading back to 2003-2004 levels.
In 2010 so far we are seeing a pace that matches or exceeds (we have 20+ houses under contract) last year's volume however the prices are lower. The upper end of the market is very weak and what is currently selling is our $500K - $800K properties. We expect that this will continue through 2010 and that recovery in the upper price range won't be seen until 2011 - but we'll see. If you would like more information about Sanibel Island real estate and Captiva Island real estate sales trends - drop me an email or call me.
Sanibel and Captiva Islands Remodeling:Cost vs Value
Are you thinking of making some improvements to your Sanibel Island or Captiva Island home in 2010?You might be interested to know that replacing your Front Door leads the way when it comes to return on investment.Replacing your entry door with a high efficiency door will cost roughly $1100 to purchase and have installed.The National Association of Realtor’s 2009 – 2010 report on Cost vs Value reports that the recouped value of that project will be about $1,470 or 129.9% of the cost! (Realtor Magazine, January 2010, pg. 22)
Not only does it speak volumes about the value of Curb Appeal, it also can save you $$ with a more energy efficient door.
2009saw the available inventory drop which bodes well for the prices holding steady.At the end of 2008 we had over 300 homes and 300 Condos for sale on Sanibel Island alone.This year the inventory is as follows:
Current Inventory on Sanibel Island January 1, 2010:
Homes – 263 priced $239,000 to $13,500,000
Condos – 262 priced $194,000 to $3,365,000
Lots – 115 priced $195,000 to $5,250,000
Current Inventory on Captiva Island January 1, 2010:
Homes – 78 priced $879.000 to $18,000,000
Condos – 73 priced $280,000 to $3,875,000
Lots – 12 priced $775,000 to $8,500,000
From 1/1/2010 thru 1/15/2010 there have been 8 properties that have closed on Sanibel and there are 34 properties under contract on both islands. If you would like more information about the current state of Island real estate, email me.
Wow! Has it really been a month since I last posted a blog entry???!!
Well, let's start with a brief look back on the Sanibel Island and Captiva Island Real Estate activity in 2009.
A total of 281 properties sold on Sanibel and Captiva Islands in 2009.Sanibel saw the most activity with 143 Homes, 86 Condos and 11 Lots sold.Captiva continued it’s sluggish pace from 2008 with 16 Homes, 22 Condos and 3 Lots changing hands.
Prices continued to pull back in all segments on both islands in keeping with the economy in general.The good news is that the prices of homes and condos appear to have found a floor.
Property Sold On Sanibel Island in 2009:
Homes: Prices ranged from a low of $285,000 to a high of $3,900,000
Condos: Prices ranged from a low of $175,000 to a high of $3,200,000
Lots: Prices ranged from a low of $175,000 to a high of $750,000
Property Sold On Captiva Island in 2009:
Homes: Prices ranged from a low of $800,000 to a high of $7,250,000
Condos: Prices ranged from a low of $246,000 to a high of $2,175,000
Lots: Prices ranged from a low of $1,325,000 to a high of $2,900,000
If you would like more detail on these statistics, let me know. In my next post, I will take a look at 2010!
