The average price of condos sold on Sanibel between January 1^st and March 31^st this year jumped from $608,645 in 2010 to $699,854.

Overall Sanibel homes fared reasonably and in some categories fared very well indeed.

After a three percent increase last year, Sanibel homes overall dropped by one percent but certain categories, such as near beach homes, showed a whopping 15 percent increase in price. The average price of sold homes on Sanibel in the first quarter was $771,524, scarcely one percent lower than last year’s average of $778,818. But near beach homes rose from last year’s average of $633,052 to a very healthy  $708,660.

Sales were still slow on Captiva with only one home and five condos sold. However, since most property goes under contract in the first quarter but the sale does not close until the second quarter, this was not unduly alarming.

The market generally was also still slow in the first quarter with just 101 properties sold. This is expected to increase in the second quarter as sales close that were put under contract in the first quarter.

These numbers and those of last year indicate that the  market is stabilizing and starting to go up. The most desirable properties are no longer going down in value but sellers whose properties have been on the market some time are still willing to accept offers.

If you are interested in buying on the islands or would like more information please contact us. We will be glad to talk about market conditions and opportunities to buy.