Wow, it’s already mid-March! As our peak season on Sanibel and Captiva Island winds down, I’m often asked if it is too late to list a home for sale. Instead of just giving you a standard “Realtor® opinion” that you’d expect – let me share with you some facts about our local market.
Over 60% of Sanibel and Captiva sales close May through December.
While we are certainly busiest during our peak season (January-April), the “off season” months aren’t as slow as you might have assumed. In fact, the numbers show they produce more sales overall than during the four months of peak season.
Average days on market does not vary significantly throughout the year.
Another assumption often made is that Sanibel and Captiva homes sell faster during season. I was surprised to see no major variation in the average days on market when comparing quarterly sales throughout the year. One cause of this might be the fact that homes in vacation rental programs are difficult to show to buyers during season, thus, causing them to sit on market for longer than they would off season.
Buyers, on average, do not get bigger discounts off-season.
Gasp! I know. While each buying situation is unique, the numbers we gathered show no change in average discounts between island homes that sold “out of season” versus “in-season”. In the past five years, buyers have seen an average discount of 6% – 7% from the listing price to actual sales price of home’s on Sanibel and Captiva.
How did I find all of these facts? I looked at past sales on Sanibel and Captiva recorded in the SanCapMLS.
Sanibel by the Numbers:
Quarterly Sales, 2011 thru 2016
So, is April too late to sell your Sanibel home?
No! Though most of our sales close in the first half of the year, missing peak season doesn’t mean your home will languish without buyers or that you will have to sell at a discount. Fewer homes are listed for sale after season, which gives new listings more attention than usual.
Plus, my experience is buyers that view homes off season tend to be more serious about buying sooner rather than later. Market strategy, exposure and proper pricing are still the key factors for selling your home. So, if you are contemplating whether or not to list your home now, don’t be discouraged that season is almost over.
As always, I’m happy to provide any assistance, advice and recommendations that I can to help with your selling decision. So, don’t hesitate to reach out – Susan@McCallionRealty.com or 239-472-1950.