|
The
average price of property sold on Sanibel between January 1st
and September 30th has dropped 19% so far this year making a
25 percent decrease on average prices of sold property on Sanibel over
two years.
The
most expensive properties showed the biggest drop with a 27 percent drop
in beachfront property prices and a 23 percent drop in bay front
property. The only property type that gained was inland property which
increased 13 percent in the first three quarters of this year.
Captiva fared no better with property prices overall dropping 30 percent
over the year and 26 percent over two years. All categories dropped with
near beach properties dropping as much as 55 percent.
Take a
longer view and the picture is better. Captiva does better than Sanibel.
Over five years, the average price of Captiva property has gained 57
percent. (But bear in mind that Captiva was still recovering from
Hurricane Charlie five years ago and prices were depressed.) Average
prices on Sanibel dropped just 9 percent over five years.
|
Take a still longer view and all categories fared, if not
brilliantly, at least adequately. Sanibel prices have increased 50
percent in the last ten years and Captiva prices have gone up 42
percent with Captiva beachfront and Captiva near beach homes
starring with 86 percent and 94 percent increases respectively. For
a spreadsheet of island prices over ten years and more, e-mail Wendy
at
Wendy@SanibelProperty.com
And now for even better news…… Following a dismal start, a
lackluster spring and a mediocre summer, sales have already started
picking up for the fall with 17 homes and 14 condos either pending
or contingent. This is highly unusual: October is generally our
slowest month.
|
