The
Fall 2005
  Schuldenfrei
Serving
Sanibel &
Captiva for
over 29 years
 REPORT
About real estate on Sanibel and Captiva • Going to 7,000 local property owners and 18,000 Northern visitors.

David L. Schuldenfrei
CRS, GRI, RealtorŪ

Selling the Islands for
more than 29 years


THE MARKET IS LOOKING GOOD
Sanibel is showing a healthy glow with all market segments looking positive for continued growth. Sanibel seems to have weathered the storm pretty well with most businesses up and running again and its value as a destination and investment venue is once again being demonstrated. That old
complaint, the market has peaked and can not get any better, seems to be falling by the wayside yet again. It really is true that when the basic product is good and the market is fundamentally sound there is surely an upside to the future.

Captiva has not shared the same good fortune as Sanibel. Their unit sales are running a bit behind last year. But, considering that South Seas is temporarily out of the market, it is doing very well indeed. We expect that as Captiva further shakes off the effects of Hurricane Charlie and South Seas returns to the market, the market will do just fine.

   

HOUSES ARE LOOKING HAPPY
While total unit sales are running at about the same level as last year the character of this performance looks promising. Houses are selling faster, at significantly better prices and in high end locations on the water. All in all it looks like a very positive picture.

CONDOS ARE JUMPING
And they are jumping high. Unit sales are running about 15% ahead of last year on Sanibel (YTD 8/31) with pricing about 20% higher. A very nice picture. On Captiva the unit volume is down but they have held their price levels. It is interesting that on both islands there has been a significant increase in unit volume for two bedroom condos and a decline in 1 and 3 bedroom units. This is a reverse of recent activity where 3 bedroom units showed the more active growth. We will continue to watch this to see if it is a market shift or simply the result of availability.

BUILDING LOTS ARE UP
The sale of building lots is largely a Sanibel activity since Captiva is virtually built out. There has been a surge of activity this year (YTD 8/31) in lots on Sanibel that are located away from water (inland and near
They represented 80% of lots sold this year compared to only about 70% last year.

beach properties). They represented 80% of lots sold this year compared to only about 70% last year. It is likely that this condition is probably due to the larger presence of building lots located away from the water and the declining inventory of waterfront lots.

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