Is Sanibel, FL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 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
$980,000
$524/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Sanibel have sold for 2.3% less than they did a year ago.
Summary: The median home sold price in Sanibel was $980,000 in March 2024, down 2.3% from last year, and the median price per square foot was $524.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $429K | $400K | -6.8% |
| 2 Bedrooms | $900K | $749K | -16.8% |
| 3 Bedrooms | $1.1M | $1.0M | -2.3% |
| 4 Bedrooms | $1.5M | $1.6M | +9.0% |
| 5+ Bedrooms | $2.3M | $1.6M | -31.0% |
Summary: Sanibel housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 6.8%, 2 bedroom homes decreased by 16.8%, 3 bedroom homes decreased by 2.3%, 4 bedroom homes increased by 9%, and 5+ bedroom homes decreased by 31%.
Median Sold Price Compared To Nearby Cities
| Sanibel | $1.0M | $980K | -2.3% |
| Sanibel Island | $1.0M | $990.7K | -6.4% |
| Captiva | $1.4M | $1.0M | -26.4% |
Housing Supply in Sanibel, FL
How many homes are available in Sanibel, FL?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 363 | 386 | +6.3% |
Summary: The Sanibel real estate market had 386 homes for sale in March 2024, a 6.3% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 18 | 20 | +11.1% |
| 2 Bedrooms | 89 | 99 | +11.2% |
| 3 Bedrooms | 185 | 185 | 0.0% |
| 4 Bedrooms | 52 | 58 | +11.5% |
| 5+ Bedrooms | 19 | 24 | +26.3% |
Summary: The Sanibel housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 11.1%, 2 bedroom homes increased by 11.2%, 3 bedroom homes remained the same, 4 bedroom homes increased by 11.5%, and 5+ bedroom homes increased by 26.3%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 19 | 30 | +57.9% |
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 March 2024, up by 57.9% 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
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 31 Days | 86 Days | +176.6% |
Summary: Homes in Sanibel had an average of 86 days on market in Mar 2024, up by 176.6% compared to last year.
Breakdown of Home Sale Times
9 Homes Were Sold
Under 30 Days
11 Homes Were Sold
In 30 - 90 Days
10 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Sanibel has remained consistent over time.
Summary: During March 2024, 30 homes were sold in Sanibel; 30% of homes were sold within 30 days, 37% of homes were sold within 30 to 90 days, and 33% of homes were sold over 90 days.
Listings courtesy of Stellar MLS as distributed by MLS GRID.
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