Is Sanibel, FL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
At the same time last year, Sanibel was a Seller's Market.
Key Takeaway
Sanibel is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Sanibel, FL
How much do homes in Sanibel, FL cost?
Median Sold Price
$1,000,000
$551/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Sanibel have sold for 5.5% more than they did a year ago.
Summary: The median home sold price in Sanibel was $1,000,000 in May 2024, up 5.5% from last year, and the median price per square foot was $551.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $425K | $450K | +5.9% |
| 2 Bedrooms | $885K | $755K | -14.7% |
| 3 Bedrooms | $975K | $1.0M | +9.2% |
| 4 Bedrooms | $1.3M | $1.9M | +43.9% |
| 5+ Bedrooms | $2.1M | $1.6M | -25.6% |
Summary: Sanibel housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 5.9%, 2 bedroom homes decreased by 14.7%, 3 bedroom homes increased by 9.2%, 4 bedroom homes increased by 43.9%, and 5+ bedroom homes decreased by 25.6%.
Median Sold Price Compared To Nearby Cities
| Sanibel | $947.5K | $1.0M | +5.5% |
| Sanibel Island | $950K | $1.0M | +5.3% |
| Captiva | $1.2M | $1.0M | -13.5% |
Housing Supply in Sanibel, FL
How many homes are available in Sanibel, FL?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 337 | 312 | -7.4% |
Summary: The Sanibel real estate market had 312 homes for sale in May 2024, a 7.4% decrease compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 18 | 17 | -5.6% |
| 2 Bedrooms | 95 | 89 | -6.3% |
| 3 Bedrooms | 156 | 139 | -10.9% |
| 4 Bedrooms | 47 | 47 | 0.0% |
| 5+ Bedrooms | 21 | 20 | -4.8% |
Summary: The Sanibel housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 5.6%, 2 bedroom homes decreased by 6.3%, 3 bedroom homes decreased by 10.9%, 4 bedroom homes remained the same, and 5+ bedroom homes decreased by 4.8%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 44 | 30 | -31.8% |
Asking Price vs. Sold Price
30 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Sanibel, you may be able to get a good deal. 100% of homes here sold below asking price last month.
Summary: A total of 30 homes were sold or pending in Sanibel in May 2024, down by 31.8% month-over-month. Of the 30 sold homes, 100% were sold under asking, 0% were sold at asking, and 0% were sold over asking.
Days on Market for Sanibel, FL
How long does it take to sell a home in Sanibel, FL?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 42 Days | 96 Days | +126.5% |
Summary: Homes in Sanibel had an average of 96 days on market in May 2024, up by 126.5% compared to last year.
Breakdown of Home Sale Times
5 Homes Were Sold
Under 30 Days
11 Homes Were Sold
In 30 - 90 Days
14 Homes Were Sold
Over 90 Days
Key Takeaway
Most homes in Sanibel are taking a long time to sell, it's a good idea to negotiate on homes here.
Summary: During May 2024, 30 homes were sold in Sanibel; 17% of homes were sold within 30 days, 37% of homes were sold within 30 to 90 days, and 47% of homes were sold over 90 days.
Listings courtesy of Stellar MLS as distributed by MLS GRID.
Copyright 2024 My Florida Regional Multiple Listing Service DBA Stellar MLS. The real estate listing data marked with this icon comes from the IDX program of the Stellar MLS system. All information provided is deemed reliable but is not guaranteed and should be independently verified. Listings displayed on this website may be subject to prior sale or removal from sale; availability of any listing should always be independently verified. Listing information is provided exclusively for consumers’ personal, non-commercial use, solely to identify potential properties for potential purchase; all other use is strictly prohibited and may violate relevant federal and state law. Properties displayed may be listed or sold by various participants in the MLS.