2011 marked a significant change for Sanibel Real Estate. Home Prices appear to have stabilized for most of our market. According to Zillow’s Home Value Index, Sanibel actually appreciated 5.6% from Oct 2010 to Oct 2011! These numbers from Zillow aren’t impacting our asking prices. Asking prices have not moved upwards, but well priced homes are moving quickly. Many new listings are selling their first week on the market.
I’ve felt that Sanibel property values have performed better than other Florida real estate, so I wanted to perform a simple comparison between Sanibel and other nearby beach communities. I used Zillow’s Home Value Index for each community as an approximation for relative performance between the communities. The numbers below tell the story.
Change in Sanibel Home Value Index: