We’re more than half-way through 2018, can you believe it?! Now is great time to pause and look back at the first six months of the year to see how real estate sales compare to years past.
Things are looking up!
Home Sales Are Up 23% From Last Year
From January – June 2017, there were 113 single family homes sold on Sanibel Island. From January – June 2018, 139 single family homes sold on Sanibel. That’s a 23% increase in single family home sales compared to this time last year!
Dollar Volume Increases 53% From Last Year
With an increase in the number of sales, usually comes an increase in the total dollar volume of sales. From January – June 2017, the total dollar volume of sales amounted to $115.9M. For the same time period this year, the total dollar volumes of sales has already amounted to $177.7M, which is an 53% increase overall.
More Sales are Closing in a Higher Price Range
With such a big increase in dollar volume of sales, it made us wonder whether this was due to increases in home values overall, or simply that more higher dollar homes are selling compared to year’s past. The chart below shows that it’s a little of both circumstances. As you can see, there are much fewer homes sold below $600k than in year’s past, and we’re seeing more home sales take place in the higher price ranges. Look at the $1M-$1.5M range for example!
What About Condos?
We haven’t forgotten about condos. While there has been an increase in the number of condos sold on Sanibel, overall it seems more steady than the dramatic increase seen with single family homes. Here’s a quick stats recap of condo sales that closed between January – June of 2017 and 2018…
- Nearly 11% increase in number of condos sold
- Nearly 10% increase in dollar volume of condos sold
- Fewer condos are selling under $400k than year’s past
- More condos are selling between $800-$1.5M than year’s past