$8,894 Closing Credit*
$749,000
1,449 SqFt
3 Beds
•2 Full Baths
Lamar Stokes, Listing Office: Timbers FL Real Estate Company
Is Sanibel, FL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 2023
Since last year, Sanibel has remained a Buyer's Market.
Key Takeaway
Sanibel is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Sanibel, FL
How much do homes in Sanibel, FL cost?
Median Sold Price
$988,750
$564/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$88,750(+9.9%)
Key Takeaway
Homes in Sanibel have sold for 9.9% more than they did a year ago.
Summary: The median home sold price in Sanibel was $988,750 in October 2024, up 9.9% from last year, and the median price per square foot was $564.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $425K | $450K | +5.9% |
| 2 Bedrooms | $729.5K | $787.5K | +8.0% |
| 3 Bedrooms | $950K | $1.0M | +11.1% |
| 4 Bedrooms | $1.4M | $1.9M | +35.2% |
| 5+ Bedrooms | $1.6M | $1.6M | +3.7% |
Summary: Sanibel housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 5.9%, 2 bedroom homes increased by 8%, 3 bedroom homes increased by 11.1%, 4 bedroom homes increased by 35.2%, and 5+ bedroom homes increased by 3.7%.
Median Sold Price Compared To Nearby Cities
| Sanibel | $900K | $988.7K | +9.9% |
| Sanibel Island | $925K | $1.0M | +8.1% |
Housing Supply in Sanibel, FL
How many homes are available in Sanibel, FL?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 195 | 221 | +13.3% |
Summary: The Sanibel real estate market had 221 homes for sale in October 2024, a 13.3% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 16 | 17 | +6.3% |
| 2 Bedrooms | 58 | 60 | +3.4% |
| 3 Bedrooms | 79 | 93 | +17.7% |
| 4 Bedrooms | 29 | 36 | +24.1% |
| 5+ Bedrooms | 13 | 15 | +15.4% |
Summary: The Sanibel housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 6.3%, 2 bedroom homes increased by 3.4%, 3 bedroom homes increased by 17.7%, 4 bedroom homes increased by 24.1%, and 5+ bedroom homes increased by 15.4%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 13 | 6 | -53.8% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Sanibel, you may be able to get a good deal. 100% of homes here sold below asking price last month.
Summary: A total of 6 homes were sold or pending in Sanibel in October 2024, down by 53.8% month-over-month. Of the 6 sold homes, 100% were sold under asking, 0% were sold at asking, and 0% were sold over asking.
Days on Market for Sanibel, FL
How long does it take to sell a home in Sanibel, FL?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 88 Days | 219 Days | +147.5% |
Summary: Homes in Sanibel had an average of 219 days on market in Oct 2024, up by 147.5% compared to last year.
Breakdown of Home Sale Times
0 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
5 Homes Were Sold
Over 90 Days
Key Takeaway
Most homes in Sanibel are taking a long time to sell, it's a good idea to negotiate on homes here.
Summary: During October 2024, 6 homes were sold in Sanibel; 0% of homes were sold within 30 days, 17% of homes were sold within 30 to 90 days, and 83% of homes were sold over 90 days.
Listings courtesy of Stellar MLS as distributed by MLS GRID.
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