provided by Sarah Ashton, Broker Associate
Ashton Kirchner Group, Keller Williams Realty
As we all are aware, 2021 was a record breaking year in Real Estate. Across the country, more units of existing residential real estate sold in 2021 – 6.12 Million units – the most since 2006. The Average sales price of these units rose to $372,400 – the highest ever.**
It should be no surprise that these same trends were repeated on Sanibel and Captiva and across the causeway. How does this bode for 2022 Real Estate on the Islands? If our January thru April trends hold, it appears that sales on the islands will be down about 40%. Right now this is primarily due to lack of inventory to sell. The number of buyers did not drop off during season – we had many multiple offer situations. As the interest rates rise and the stock market continues to fluctuate, this may cause some buyers to pause, but only time will tell.
The sales prices on the islands have also risen dramatically. The average sales price for homes and condos on Sanibel has risen 32% to $1,724,089. On Captiva the average has risen 71% to $4,898,958.*** These increases will drive some buyers out of our market as they are priced out of the market.
|Sanibel||January to April 2021|
|2021 Closed Sales||January to April 2022|
|Percent Change||2022 Projected Closed Sales|
Will 2022 see continued price increases? Will we see an increase in inventory as the higher prices increase the days on the market? All good questions and only time will tell.
*** Sanibel Captiva MLS