Is Sanibel Island, 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 Island was a Seller's Market.
Housing Prices in Sanibel Island, FL
How much do homes in Sanibel Island, FL cost?
Median Sold Price
$990,771
$550/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Sanibel Island was $990,771 in March 2024, down 6.4% from last year, and the median price per square foot was $550.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $520K | $457.5K | -12.0% |
2 Bedrooms | $900K | $759.9K | -15.6% |
3 Bedrooms | $1.1M | $1.0M | -2.3% |
4 Bedrooms | $1.5M | $1.7M | +7.9% |
5+ Bedrooms | $3.3M | $1.8M | -45.5% |
Summary: Sanibel Island housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 12%, 2 bedroom homes decreased by 15.6%, 3 bedroom homes decreased by 2.3%, 4 bedroom homes increased by 7.9%, and 5+ bedroom homes decreased by 45.5%.
Housing Supply in Sanibel Island, FL
How many homes are available in Sanibel Island, FL?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
438 | 470 | +7.3% |
Summary: The Sanibel Island real estate market had 470 homes for sale in March 2024, a 7.3% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 28 | 31 | +10.7% |
2 Bedrooms | 107 | 118 | +10.3% |
3 Bedrooms | 204 | 207 | +1.5% |
4 Bedrooms | 66 | 75 | +13.6% |
5+ Bedrooms | 33 | 39 | +18.2% |
Summary: The Sanibel Island housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 10.7%, 2 bedroom homes increased by 10.3%, 3 bedroom homes increased by 1.5%, 4 bedroom homes increased by 13.6%, and 5+ bedroom homes increased by 18.2%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
19 | 33 | +73.7% |
Asking Price vs. Sold Price
33 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Summary: A total of 33 homes were sold or pending in Sanibel Island in March 2024, up by 73.7% month-over-month. Of the 33 sold homes, 100% were sold under asking, 0% 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
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
35 Days | 91 Days | +160.0% |
Summary: Homes in Sanibel Island had an average of 91 days on market in Mar 2024, up by 160% compared to last year.
Breakdown of Home Sale Times
10 Homes Were Sold
Under 30 Days
11 Homes Were Sold
In 30 - 90 Days
12 Homes Were Sold
Over 90 Days
Summary: During March 2024, 33 homes were sold in Sanibel Island; 30% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 36% of homes were sold over 90 days.