The Sanibel real estate market showed continued improvement in March. Buyers are active and we are seeing many more transactions than the previous few years.
Significantly, when comparing the year-to-date period ending in March to 2011, the average sales price is up 17%, from $681k to $800k. The total number of transactions is up 20%, from 97 to 116.
Don’t confuse the increase in the average sales price with price increases. Prices remain at a low and we are not seeing increased prices. My feeling is this is a reflection of the gaining comfort buyers have in purchasing more expensive properties.
Average Sales Price and # Closed Sales
*these numbers are sourced from Pfeifer Realty Group