May 2015 Sanibel Real Estate Market Report

Posted by Valerie Tutor on Tuesday, June 9th, 2015 at 9:22pm.

The Sanibel Real Estate Market continues to be strong. More closings in May than last year and a stronger volume. One of the trends of interest is the increase in over million dollar sales. Our office listed a 4 million dollar bayfront and just closed it….It was sold in 31 days!   Sanibel million dollar Condo sales have doubled. Those complexes that are valued over a million are getting the buyer interest. Customers buying expensive Real Estate is happening on a big scale with our John R Wood “brand” in Naples. Interesting that all of Lee County has only about 10% of the million dollar sales that Collier has. 

Sanibel Sales May 2015

                 Residential        Vacant         Condominium

# sales           33                  4                   22

Avg Sale   $939,947       $391,875       $869,852

My forecast is for continued price gains. I base that on a strong demand and a decreased inventory. I checked the Sanibel Inventory levels in 2011 which was the beginning of the recovery. Look at the difference in all categories! 

Sanibel Inventory June 2011 vs 2015

Year           Residential      Vacant       Condominium        Commercial

2011          247                 104                  231                         14

2015         112                   72                   94                             6

More people want to experience the pleasant climate and all that Sanibel offers. Plus our unique island compared to the “rest” of Florida is so much better. Being better will keep interest up along with prices. Check out our Sanibel video at :www.SanibelRealEstateMarket.com/video 

By Jay Richter,   Managing Broker John R Wood Island Real Estate, Licensed Real Estate Instructor

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VALERIE TUTOR

I am a true Florida native and proud of my heritage growing up in South Florida on an 80 acre cattle ranch only two hours from Sanibel. Since the early 1960s, my family loved to spend our free time on Sanibel and Captiva, so I pretty much grew up here. After living and working all over South and Central Florida, my husband and I were thrilled to be able to move home to Sanibel Island.

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Kingfisher Real Estate Inc National Association of Realtors Sanibel & Captiva Islands Specialist
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