We have a love-hate relationship with “Average Sales Price” stats in real estate. Just think about the wide range of homes there are on Sanibel and Captiva Islands. We have everything from $500k ground-level homes in the middle of the island, to $2M elevated homes on the Gulf. Do you see how this can skew our average sales price?
Still, it’s a good metric to use when comparing year-over-year statistics to see how the market has changed. Below, you’ll find the average sales price of Sanibel single family homes for the past 10 years. Keep in mind this year’s numbers are not yet complete.
Sanibel Single Family Homes
As you can see, there has been a steady increase in both the list price and sales price of single family homes on Sanibel over the past few years. We still have a few months of sales to record for 2018, but already the average sales price is 16.8% higher than last year.
Sanibel Condos, on the other hand, haven’t had much change in terms of the average sales price in the past four to five years. The magic number seems to be $730k for the average sales price of condos on Sanibel.
Captiva Single Family Homes
Captiva single family homes have had a major decrease in the average sales price this year. Keep in mind that there have only been 15 recorded sales thus far, with the lowest being $850k, and highest $5.25M. That’s a huge difference in price, therefore, we prefer to look at the median sales price, which is actually $1.64M. Still, the median sales price this year is lower than last year’s median, which was $1.92M with a total of 22 sales recorded.
Last but not least, we have Captiva condos, where the average sales price has increased from last year, and is more on par with 2015 and 2016 numbers. What’s interesting to point out is the larger difference in list to sales price this year. The list to sales price ratio is currently 92.2%, which means there is close to an 8% discount from the average list price of Captiva Condos.
We hope this gives you an idea of the state of the market here on Sanibel and Captiva Islands. Of course, each category of homes and condos can be further broken down by price range to give you deeper insight into the exact market in which you are home shopping. We’d be happy to go more depth on your specific home search. Just shoot us a message at firstname.lastname@example.org and we can send that your way!