$10,000 Closing Credit*
$2,449,000
4,273 SqFt
4 Beds
•4 Full Baths, 1 Partial
Michael McMurray, Listing Office: Royal Shell Real Estate, Inc.
Is Sanibel Island, 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 Island has remained a Buyer's Market.
Key Takeaway
Sanibel Island is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Sanibel Island, FL
How much do homes in Sanibel Island, FL cost?
Median Sold Price
$1,000,000
$584/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$75,000(+8.1%)
Key Takeaway
Homes in Sanibel Island have sold for 8.1% more than they did a year ago.
Summary: The median home sold price in Sanibel Island was $1,000,000 in October 2024, up 8.1% from last year, and the median price per square foot was $584.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $465K | $522K | +12.3% |
| 2 Bedrooms | $740K | $819.5K | +10.7% |
| 3 Bedrooms | $952.7K | $1.0M | +11.3% |
| 4 Bedrooms | $1.5M | $2.0M | +31.6% |
| 5+ Bedrooms | $2.0M | $1.9M | -7.7% |
Summary: Sanibel Island housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 12.3%, 2 bedroom homes increased by 10.7%, 3 bedroom homes increased by 11.3%, 4 bedroom homes increased by 31.6%, and 5+ bedroom homes decreased by 7.7%.
Median Sold Price Compared To Nearby Cities
| Sanibel | $900K | $988.7K | +9.9% |
| Sanibel Island | $925K | $1.0M | +8.1% |
Housing Supply in Sanibel Island, FL
How many homes are available in Sanibel Island, FL?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 268 | 295 | +10.1% |
Summary: The Sanibel Island real estate market had 295 homes for sale in October 2024, a 10.1% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 29 | 31 | +6.9% |
| 2 Bedrooms | 72 | 75 | +4.2% |
| 3 Bedrooms | 103 | 116 | +12.6% |
| 4 Bedrooms | 39 | 46 | +17.9% |
| 5+ Bedrooms | 25 | 27 | +8.0% |
Summary: The Sanibel Island housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 6.9%, 2 bedroom homes increased by 4.2%, 3 bedroom homes increased by 12.6%, 4 bedroom homes increased by 17.9%, and 5+ bedroom homes increased by 8%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 15 | 6 | -60.0% |
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 Island, 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 Island in October 2024, down by 60.0% 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 Island, FL
How long does it take to sell a home in Sanibel Island, FL?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 88 Days | 202 Days | +128.4% |
Summary: Homes in Sanibel Island had an average of 202 days on market in Oct 2024, up by 128.4% compared to last year.
Breakdown of Home Sale Times
0 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
4 Homes Were Sold
Over 90 Days
Key Takeaway
Most homes in Sanibel Island 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 Island; 0% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 67% of homes were sold over 90 days.
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