Posted by Valerie Tutor on Tuesday, May 24th, 2016 at 10:54pm.
Happy May! Well, spring fever got me and so an April blog never happened. I would like to give a shout out to the Levetts who purchased a beautiful condo last month in their favorite Sanibel complex. I meet the best people. Speaking of which, I stand in admiration and deep gratitude to the men and women who have lost their lives defending our freedom and this nation. This Memorial Day, remember the sacrifices they - and their families – made to ensure we enjoy the blessings we have today. Thank you so very much.
May is my favorite month on Sanibel. The water turns a gorgeous turquoise blue, the fishing gets great with tarpon, trout, redfish and snook, the sun stays up gleaming & yellow past 8 PM, the tides get super low revealing a treasure trove of shells - and then just when you think it is just too hot, the sea breeze blows in and cools things off. As an avid boater/fisherman and a sheller, I always look forward to this time of the year.
One of the great places here on our paradise coast is Useppa Island. An historic private island, home to the famous Collier Inn, boasts amazing Key West style homes and cottages throughout the island. Owners and guests get there by boat and enjoy an island straight out of yesteryear. The island club membership is also available to residents of Sanibel and Captiva. As members, we have docking privileges at the marina and can enjoy the dining options on the island including the Inn, the Izaak Walton bar & the Tarpon “Watering Hole.”
On the real estate front: there are some excellent options to buy on our fabulous islands right now. Inventory is up about 15% over one year ago. Most of the gains are in the residential home market with vacant land and condos remaining about the same. Sanibel started 2016 with little gain in inventory, while Ft Myers and Naples had been recording increases since October 2015. In March 2016, Sanibel finally caught up… with a 22% surge in listings. Finally, more properties to show!
Having said that, as of May year-to-date, sales units are down 43% on Sanibel but the sales volume is up 23%. First quarter numbers show that sales were down 52% but up in volume 9%. Comparing the two sets of numbers indicates that properties that are more expensive are selling and the pace has picked up. The buyer’s trend this year is that they are looking for homes that are “done”…no renovation needed and like new. Those homes are selling well and at much higher prices. Condo sales are down a bit and remaining the same on volume, though most of the Sanibel condos are renting at fabulous prices that make them more valuable and good buys.
So if you have been waiting to buy here on the islands – or anywhere in Southwest Florida, now might be the time. We are in a balanced market, prices are stable and there is more inventory overall. C’mon down and see how much fun it is in the summer and pick your property before the others all get down here. I saved you a seat, as always….. God bless.
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.READ MORE