Sanibel, FL Real Estate Market

Source & Methodology

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q1 2021. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2019 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Sanibel, FL Housing Market Trends

With a population of 7,401, 3,684 total housing units (homes and apartments), and a median house value of $864,197, Sanibel house prices are not only among the most expensive in Florida, Sanibel real estate also is some of the most expensive in all of America.

Single-family detached homes are the single most common housing type in Sanibel, accounting for 50.77% of the city's housing units. Other types of housing that are prevalent in Sanibel include large apartment complexes or high rise apartments ( 39.93%), duplexes, homes converted to apartments or other small apartment buildings ( 4.70%), and a few row houses and other attached homes ( 2.59%).

Dwellings in Sanibel tend to be quite small (one, two, or no bedrooms) and owner occupied. In fact, 49.45% of the homes in Sanibel have two or fewer bedrooms.

There is a lot of housing in Sanibel built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Sanibel built between 2000 and later ( 10.32%). A lesser amount of the housing stock also hails from between 1940-1969 ( 4.42%).

A decent proportion of the Sanibel housing stock is seasonally occupied. That is, homes and condos in Sanibel are occupied by people for a portion of the year - mainly for vacation purposes - and then locked up and left unoccupied for the remainder of the year as owners return to their primary residences. This characteristic of the Sanibel housing market speaks to its popularity as a vacation location of choice.

Sanibel Home Appreciation Rates

Appreciation rates for homes in Sanibel have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 39.98%, which ranks in the top 50% nationwide. This equates to an annual average Sanibel house appreciation rate of 3.42%.

Appreciation rates are so strong in Sanibel that despite a nationwide downturn in the housing market, Sanibel real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Sanibel appreciation rates continue to be some of the highest in America, at 9.41%, which is higher than appreciation rates in 86.85% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Sanibel. Sanibel appreciation rates in the latest quarter were at 2.63%, which equates to an annual appreciation rate of 10.93%.

Importantly, this makes Sanibel one of the highest appreciating communities in the nation for the latest quarter, and may signal the city's near-future real estate investment strength.

Relative to Florida, our data show that Sanibel's latest annual appreciation rate is higher than 70% of the other cities and towns in Florida.

Average Home Values

 

Median Home Value:
$864,197

Sanibel, FL HOME PRICES

> $1,151,000
25.6%
25.6%
$864,001 - $1,151,000
21.4%
21.4%
$576,001 - $864,000
31.0%
31.0%
$461,001 - $576,000
9.5%
9.5%
$345,001 - $461,000
5.2%
5.2%
$230,001 - $345,000
1.3%
1.3%
$115,001 - $230,000
3.7%
3.7%
$58,001 - $115,000
1.1%
1.1%
$0 - $58,000
1.3%
1.3%
0.0% 100.0%
% OF HOMES
Value Relative To State

Very High for Nation

Very High for FL

Value Relative To Nation

Number Of Homes And Apartments:
3,684

Sanibel Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
FL*
Compared To
America*
Latest Quarter:
2020 Q4 - 2021 Q1
Last 12 Months:
2020 Q1 - 2021 Q1
Last 2 Years:
2019 Q1 - 2021 Q1
Last 5 Years:
2016 Q1 - 2021 Q1
Last 10 Years:
2011 Q1 - 2021 Q1
Since 2000:
2000 Q1 - 2021 Q1
98.36% 3.28%
2
7
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$2,673 / per month

Homeownership Rate

Owners
85.4%
85.4%
Renters
14.6%
14.6%
Vacant
58.8%
58.8%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
10.3%
10.3%
1970 - 1999
84.7%
84.7%
1940 - 1969
4.4%
4.4%
1939 or Older
0.6%
0.6%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
50.8%
50.8%
Townhomes
2.6%
2.6%
Small Apt. Buildings
4.7%
4.7%
Apt. Complexes
39.9%
39.9%
Mobile Homes
2.0%
2.0%
Other
0.0%
0.0%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
1.0%
1.0%
1 Bedroom
5.1%
5.1%
2 Bedrooms
43.4%
43.4%
3 Bedrooms
38.1%
38.1%
4 Bedrooms
10.1%
10.1%
5 or more bedrooms
2.4%
2.4%
0.0% 100.0%
% OF HOMES

Popular Neighborhoods in Sanibel

Zip Codes in Sanibel, FL