Compared with 2019 sales, we improved in all categories. Having said that, the first 5 month’s stats were down over 40% because of the Corona Virus. Starting in June, the market improved dramatically.
- Single Family Homes: Our resale single family home market historically has 225-250 Units for sale. Right now in early 2021, we only have 62 homes on the market. It’s hard to find a house listed under $500,000 and there is strong demand for homes priced under $700,000.
- Sanibel Condos: We see a similar story with Sanibel condos, lower priced offerings are hard to find. Only 85 Condos currently listed for sale.
- Vacant Lots: The Sanibel lot market is very strong. We are down to just 45 vacant lots down from 100. A few good lots remain, priced between $250,000 and $400,000. We have a working relationship with a quality local builder and we are able to package a lot and new 3/2 pool home in the $800,000 to $850,000 price range.
Because of our shrinking supply, combined with increased demand, we see prices increasing in 2021. It makes sense to also take advantage of the low interest rates. Having said that, 75% of Sanibel sales are on a cash basis.
If you would like more insight into what is going on with our Sanibel market just give me a call and I will do my best to answer any of your questions. I hope everyone has a safe and successful 2021.
For more information, call Ann at 239-850-0979. Thank you!