IS is time to buy real estate on the beach on Sanibel Island?
Let’s look at some numbers: There is 20% more inventory than last year at this time, and the selling prices are 35% off peak asking prices.
There are currently 52 beach/Gulf front homes on the market, 30 on Captiva and 22 on Sanibel. The prices range from $1,995,000- $18 million. The average price on Sanibel is $4.3 million and $7 million on Captiva.
There are 3 Gulf front homes pending sale in the price range of $3.2 million- $5.1 million.
There have been 8 closed sales in the past 12 months (6/Captiva, 2 Sanibel) and the average sales price was $4.1 million.
There are nine beachfront lots for sale (5 Captiva, 4 Sanibel), and the average price is $4.6 million.
There have only been 2 lot sales in the past 12 months, and both were on Captiva at the price of $2.5 million and $2.9 million. Both got 90% of the asking price.
The choices have never been better–for answers to all of your Sanibel real estate questions, contact Chuck Andrews, a 24 year Sanibel real estate veteran.
HUGE PRICE REDUCTION on this Gulf front home in Gulf Ridge, now being offered for $4,500,000 http://idx.imprev.net/03782F07/63732/585460/index.ipv
