In a normal market on Sanibel, there are between 35 and 45 canal homes on the market. Prices generally start at $600,000 and go up to $3,000,000.
The average listing price is $1,381,662. The average sales price is $1,317,263.
There are a few factors that contribute to the price of a canal home.
The lower priced canal homes are typically located on mangrove canals.
Canal Homes on the far west of Sanibel are on mangrove canals.
East end canal homes are mostly on sea-walled canals which add a good deal of value.
Another factor that affects value is the amount of bridges to the Bay. Some east and west end canal homes have 1-3 bridges to go under before they access the bay.
Bridges on your way out to the Bay or Gulf restrict the height of the boat. Of course, a sailboat or a large yacht will need a canal home with no bridges to the bay.
Another variable of value is the depth and width of the canal. As you go higher in price, the canals get wider, deeper and they have concrete seawalls instead of the mangrove lined canals.
The size and age of the home is the final primary factor in the pricing of a canal home.
Recently built elevated canal homes with all of the latest finishes can be built for $500 per square foot by one of Sanibel’s luxury builders (not including the cost of the lot)
We have a close relationship with a local fishing guide who assists us in showing canal homes via the water. If you’d like to see canal homes for sale from the water, we can make it happen with only a couple of days notice.