Home or Condo

& CaptivaProperty.net

Sanibel Real Estate - Captiva Real Estate - Island Real Estate - South West Florida Real Estate - International Investment

Island Condos - International Property Specialists - Tropical Paradise

Home or Condo ?

The amount of time you’re going to spend on the islands and whether you want to rent out your property are the two major factors most people use to determine whether they want to buy a house or a condo.

Year round residents often prefer a house because the average condo apartment can be small to live in year round. A two-bedroom condo on the beach is usually between 900 and 1,400 square feet. Cozy, if you live simply. Cramped if you don’t. A winter only resident with few possessions may be able to live happily in 1,000 square feet.

What is constricting year round can be comfortable for three months.

The amount of time you want to spend caring for your home, may also influence your decision. Many islanders are down here to enjoy the sun and the surf, not to mow lawns and fix screens. Winter only residents, in particular may prefer a condo. Snow birds migrating north in the summer may feel more comfortable knowing there’s the condo maintenance crew watching out for problems and caring for the pool.

The cost for this care comes in the form of a maintenance fee which may be as low as $250 a month or as much as $1,000. The amount of the fee depends on the size of the complex, the age of the structure and whether owners want to build up capital reserves to pay for items, like a new roof or rebuilding porches.

Condominium fees almost always include insurance of the building, maintenance of all the common areas such as landscaping and the pool, management, legal fees, electricity for lighting common areas and water and frequently cable television.

Back to Sanibel & Captiva Real Estate FAQ's

Average island prices drop but sales pick up pointing to good season

The average price of property sold on Sanibel between January 1^st and September 30^th 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.