Real Estate

SARAH ASHTON: How the Market?

by Sarah Ashton, Re/Max of the Islands

Sanibel & Captiva Real Estate Sales 2019 vs 2018

It’s that time of year again. That time when we like to get a perspective on what has been going on with Island Real Estate so far this year.

We definitely had a different tempo this year with January and February being the slowest start for sales since 2008 – 2009. March and April picked up and May and June were pretty average.

As the numbers below indicate, Sanibel this year was on roughly the same sales pace as 2017. The prices were a bit off from last year with buyers putting more pressure on prices with their initial offers and Sellers more willing to reduce their price as the time on the market increased.

Captiva presented a much slower market overall. For the third year in a row, the number of closed transactions in the first half of the year was lower than the previous year. Prices held strong but time on the market grew.

SanibelJanuary - June    
Residential201920182017
Closed123154124
Under Contract28
Active169
Condos779484
Captiva
Residential81215
Closed81215
Under Contract6
Active37
Condos
Closed141720
Under Contract1
Active45

As always, we don’t have a crystal ball (oh, how I wish I did sometimes) but overall the market looks solid. The economy has held steady and the interest rates are still favorable.

Also, as always, those properties that appear to be a good value either by a lower price or more recent updates continue to have a better chance of selling quickly at a higher percentage of their asking price.

With average Summer and Autumn markets, we should end 2019 around the same levels of 2017. All in all – a pretty normal market for our Islands.

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