Sanibel Real Estate Blog: A Word From our Broker

Another lively sales meeting at the Re/Max Sanibel real estate office today and here are  a few stats to entertain you:

AS of November 16, 2014:  the median single family home price on Sanibel is $ 689,000.  That’s 8.5% higher than 12/31/13 when it was $ 645,000. The median condo price was $ 562,500 and that’s 15.39% higher than 12/31/13. Median lot prices are doing the same: at $365,000 for a median price, that’s 21.67% higher than 12/31/13.

And here it is in a nutshell, from broker and island realtor, Art Corace: Our island real estate market bottomed out in April, 2013. The most recent top of the market was November 2005. It took almost 7.5 years to bottom out! As one can see prices are rebounding quickly as inventory shrinks. Overall inventory levels for both Sanibel and Captiva are down significantly from the past 3 year average. (2010-2012) of 793 to 424. A

As of this writing, there are 141 homes for sale on Sanibel and only 6 have an asking price below $400,000 and only 20 have asking prices below $500,000.

Time to start thinking about that Sanibel real estate purchase?? Give Chuck Andrews a call at 239-849-3396 or check out Sanibel real estate listings at www.chuckandrews.com. Looking on the other side of the Sanibel causeway, then give Kimberley Andrews a call at 239-935-9235.

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