Sanibel or Captiva

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Sanibel or Captiva?

Sanibel Island, an Island Sanctuary

Sanibel Island is linked to the mainland by a four-mile causeway.

More residential and less resort oriented than Captiva, Sanibel has large tracts of preservation land. More than two thirds of the island can never be developed. The J. N. "Ding" Darling Wildlife Refuge and the Sanibel-Captiva Conservation Foundation have preserved most environmentally sensitive land. Thousands of acres of wetlands, mainly along the Sanibel River, a freshwater body of water meandering through the center of the island are preserved.

The bay and bayous of Sanibel are fringed with mangroves and Sanibel’s beaches boast the best shelling in North America and the third best in the world.

Sanibel's strict building codes result in the most favorable federal flood insurance rating in Florida. There are also height restrictions. No high-rise condos are allowed.

Sanibel is incorporated as a city and has a land use plan that caps the number of units that can be built on the island to around 9,000. Currently there are approximately 8,500 homes, condos and businesses units on the island.

Year round population of Sanibel is 5,600. That swells to about 17,000 at the peak of the winter season in March.

Prices range from around $350,000 for a single family home in the center of the island to $9 million for Gulf front property.

Captiva Island, Trendy and Tropical

Captiva Island is a strip of land five miles long from north to south. Less than a quarter mile at its widest, it narrows to a few hundred feet at some points.

Roosevelt Channel runs west and separates Captiva from Buck Key, a private nature preserve.

The northern third is South Seas Plantation edged by white sand beaches on the west and lush mangroves on the east. Once a pineapple plantation, the resort now has around 900 homes and condos, 18 swimming pools, 18 tennis courts, three restaurants and a top rated nine-hole golf course.

Most South Seas' property is beachfront. Gulf front mansions rise among smaller beachfront cottages. Many South Seas properties are villas or apartments, clustered in low rise wooden buildings on the beach or in larger buildings on the Bay.

Visitors from all over the world swell the year round population of Captiva to 8,000 in high season

There are approximately 1,500 homes and condos on the island. Many of the single family homes are close to the community center and The Chapel by the Sea, in the charming village area .

Large, estate zoned properties line either side of Captiva Drive, which links Captiva with Sanibel. Some of the area's most magnificent homes are located here.

Most of old Captiva has now been rebuilt. Captiva Gulf front homes now begin at nearly $3 million and soar to over $9 million. On Roosevelt Channel or Blind Pass, homes range from $1.5 million to over 6 million. At the beginning of 2004 there were 24 near beach homes on the market and 18 of them were listed at over a million dollars.

The average condo price on Captiva is now over $1 million but there are still condos in South Seas Plantation for under $500,000.

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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.