Is Sanibel, FL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since August 2022
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
How much do homes in Sanibel, FL cost?
Median Sold Price
$900,000
$504/sqft
Based on all homes sold in the last 12 months.
Difference Since August 2022
Key Takeaway
Homes in Sanibel have sold for 24.6% less than they did a year ago.
Summary: The median home sold price in Sanibel was $900,000 in August 2023, down 24.6% from last year, and the median price per square foot was $504.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Aug 2022 | Aug 2023 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $517.5K | $425K | -17.9% |
| 2 Bedrooms | $875K | $749K | -14.4% |
| 3 Bedrooms | $1.3M | $900K | -32.7% |
| 4 Bedrooms | $1.8M | $1.5M | -15.6% |
| 5+ Bedrooms | $2.3M | $1.6M | -30.5% |
Summary: Sanibel housing prices by bedroom type for August 2023 compared to the previous year: The home price of 1 bedroom homes decreased by 17.9%, 2 bedroom homes decreased by 14.4%, 3 bedroom homes decreased by 32.7%, 4 bedroom homes decreased by 15.6%, and 5+ bedroom homes decreased by 30.5%.
Median Sold Price Compared To Nearby Cities
| Sanibel | $1.1M | $900K | -24.6% |
| Sanibel Island | $1.2M | $900K | -25.0% |
Housing Supply
How many homes are available in Sanibel, FL?
Number of Homes For Sale
| Jul 2023 | Aug 2023 | CHANGE |
|---|---|---|
| 202 | 194 | -4.0% |
Summary: The Sanibel real estate market had 194 homes for sale in August 2023, a 4.0% decrease compared to July 2023.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Jul 2023 | Aug 2023 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 11 | 13 | +18.2% |
| 2 Bedrooms | 52 | 53 | +1.9% |
| 3 Bedrooms | 98 | 87 | -11.2% |
| 4 Bedrooms | 29 | 28 | -3.4% |
| 5+ Bedrooms | 12 | 13 | +8.3% |
Summary: The Sanibel housing inventory by bedroom type for August 2023 compared to the previous month: The inventory of 1 bedroom homes increased by 18.2%, 2 bedroom homes increased by 1.9%, 3 bedroom homes decreased by 11.2%, 4 bedroom homes decreased by 3.4%, and 5+ bedroom homes increased by 8.3%.
Number of Homes Sold
| Jul 2023 | Aug 2023 | CHANGE |
|---|---|---|
| 22 | 21 | -4.5% |
Asking Price vs. Sold Price
19 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Sanibel, you may be able to get a good deal. 90.5% of homes here sold below asking price last month.
Summary: A total of 21 homes were sold or pending in Sanibel in August 2023, down by 4.5% month-over-month. Of the 21 sold homes, 90% were sold under asking, 5% were sold at asking, and 5% were sold over asking.
Days on Market
How long does it take to sell a home in Sanibel, FL?
Average Sale Time
| Aug 2022 | Aug 2023 | CHANGE |
|---|---|---|
| 34 Days | 112 Days | +225.3% |
Summary: Homes in Sanibel had an average of 112 days on market in Aug 2023, up by 225.3% compared to last year.
Breakdown of Home Sale Times
4 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
15 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 August 2023, 21 homes were sold in Sanibel; 19% of homes were sold within 30 days, 10% of homes were sold within 30 to 90 days, and 71% of homes were sold over 90 days.
