Is Sanibel Island, FL a buyer’s or seller’s market?

Housing Market Conditions



Gauge showing Sanibel Island is a buyer's market


Difference Since August 2022

At the same time last year, Sanibel Island was a Seller's Market.

Key Takeaway

Sanibel Island 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 Island, FL cost?

Median Sold Price



Based on all homes sold in the last 12 months.

Difference Since August 2022


Key Takeaway

Homes in Sanibel Island have sold for 25% less than they did a year ago.

Summary: The median home sold price in Sanibel Island was $900,000 in August 2023, down 25% from last year, and the median price per square foot was $520.

Median Sold Price By Bedroom Count

# BEDSAug 2022Aug 2023CHANGE
1 $537.5K$477K
2 $875K$750K
3 $1.3M$927.5K
4 $2.0M$1.6M
5+ $2.9M$2.0M

Summary: Sanibel Island housing prices by bedroom type for August 2023 compared to the previous year: The home price of 1 bedroom homes decreased by 11.3%, 2 bedroom homes decreased by 14.3%, 3 bedroom homes decreased by 29.9%, 4 bedroom homes decreased by 17.8%, and 5+ bedroom homes decreased by 29.1%.

Median Sold Price Compared To Nearby Cities

Sanibel Island

Housing Supply

How many homes are available in Sanibel Island, FL?

Number of Homes For Sale

Jul 2023Aug 2023CHANGE

Summary: The Sanibel Island real estate market had 250 homes for sale in August 2023, a 2.3% decrease compared to July 2023.

Homes For Sale By Bedroom Count

# BEDSJul 2023Aug 2023CHANGE
1 1718
2 6464
3 115107
4 3938
5+ 2123

Summary: The Sanibel Island housing inventory by bedroom type for August 2023 compared to the previous month: The inventory of 1 bedroom homes increased by 5.9%, 2 bedroom homes remained the same, 3 bedroom homes decreased by 7%, 4 bedroom homes decreased by 2.6%, and 5+ bedroom homes increased by 9.5%.

Number of Homes Sold

Jul 2023Aug 2023CHANGE

Asking Price vs. Sold Price

25 Homes Were Sold
Under Asking

1 Home Was Sold
At Asking

1 Home Was Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Sanibel Island, you may be able to get a good deal. 92.6% of homes here sold below asking price last month.

Summary: A total of 27 homes were sold or pending in Sanibel Island in August 2023, the same as the previous month. Of the 27 sold homes, 93% were sold under asking, 4% were sold at asking, and 4% were sold over asking.

Days on Market

How long does it take to sell a home in Sanibel Island, FL?

Average Sale Time

Aug 2022Aug 2023CHANGE
33 Days118 Days+250.2%

Summary: Homes in Sanibel Island had an average of 118 days on market in Aug 2023, up by 250.2% compared to last year.

Breakdown of Home Sale Times

6 Homes Were Sold
Under 30 Days

3 Homes Were Sold
In 30 - 90 Days

18 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Most homes in Sanibel Island are taking a long time to sell, it's a good idea to negotiate on homes here.

Summary: During August 2023, 27 homes were sold in Sanibel Island; 22% of homes were sold within 30 days, 11% of homes were sold within 30 to 90 days, and 67% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 26 Days Ago

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Nearby Markets

What housing markets are near Sanibel Island, FL?