Is Sanibel Island, 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 Island was a Neutral Market.
Housing Prices in Sanibel Island, FL
How much do homes in Sanibel Island, FL cost?
Median Sold Price
$1,000,000
$568/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Sanibel Island was $1,000,000 in May 2024, up 5.3% from last year, and the median price per square foot was $568.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $477K | $492.5K | +3.2% |
2 Bedrooms | $899K | $772.4K | -14.1% |
3 Bedrooms | $1.0M | $1.0M | +4.4% |
4 Bedrooms | $1.4M | $2.0M | +42.3% |
5+ Bedrooms | $2.5M | $1.7M | -31.0% |
Summary: Sanibel Island housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 3.2%, 2 bedroom homes decreased by 14.1%, 3 bedroom homes increased by 4.4%, 4 bedroom homes increased by 42.3%, and 5+ bedroom homes decreased by 31%.
Housing Supply in Sanibel Island, FL
How many homes are available in Sanibel Island, FL?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
415 | 390 | -6.0% |
Summary: The Sanibel Island real estate market had 390 homes for sale in May 2024, a 6.0% decrease compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 26 | 27 | +3.8% |
2 Bedrooms | 113 | 107 | -5.3% |
3 Bedrooms | 177 | 159 | -10.2% |
4 Bedrooms | 64 | 62 | -3.1% |
5+ Bedrooms | 35 | 35 | 0.0% |
Summary: The Sanibel Island housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 3.8%, 2 bedroom homes decreased by 5.3%, 3 bedroom homes decreased by 10.2%, 4 bedroom homes decreased by 3.1%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
50 | 36 | -28.0% |
Asking Price vs. Sold Price
35 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
0 Homes Were Sold
Over Asking
Summary: A total of 36 homes were sold or pending in Sanibel Island in May 2024, down by 28.0% month-over-month. Of the 36 sold homes, 97% were sold under asking, 3% were sold at asking, and 0% were sold over asking.
Days on Market for Sanibel Island, FL
How long does it take to sell a home in Sanibel Island, FL?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
41 Days | 102 Days | +150.5% |
Summary: Homes in Sanibel Island had an average of 102 days on market in May 2024, up by 150.5% compared to last year.
Breakdown of Home Sale Times
6 Homes Were Sold
Under 30 Days
12 Homes Were Sold
In 30 - 90 Days
18 Homes Were Sold
Over 90 Days
Summary: During May 2024, 36 homes were sold in Sanibel Island; 17% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 50% of homes were sold over 90 days.