Best Selling condo week in months!                         11/5/08
New condos under contract this week!
Oceans Reach one bedroom gulf front $539,000
Sanibel Surside two bedroom gulf front $ 849,000
Sanddollar two bedroom    gulf front         $ 995,000 and a 3 Bedroom for $1,249,000
loggerhead Cay 513 gulf front $1,150,000
Sanibel Moorings # 1622  $479,000
Shell Island Beach Club $ 899,000 
Somerset at the Reef C202 $ 1,149,000
Prices reflect the list price only..closed price will not be advertised until the closing.





JOHN R. WOOD IS EXPANDING! AS OF DEC 15TH WE WILL BE IN A  NEW LOCATION..BIG OFFICE ON PERIWINKLE..THE OLD PMR BUILDING..WATCH FOR THE RENEVATIONS...

How are we all doing on the Island?  With such negative reports on housing, there is no denying  the US is in  a slow down.  The Sanibel outlook, however, has  less  to do with the average market, or the " Over the Island" auction ( in some areas).  Thanks to the developers of the comprehensive land use plan
in 1974 growth was stopped from Lee County's plan of  #30,000 homes and condos to  # 9000.  The 9000 number for density will never be reached as there have been several large tracts donated.  The 9000 includes all motel rooms, + time share.  The actual dwelling units, as of 2005 ,were Single family @  #3894,and Condos @  # 3115. 
In the big picture, that is not alot of lucky people.

In  2004 during the first half of the hay-day year we sold # 247 homes at an average price of  $887,000, there were  #203 Condos sold for the same time
with an average price of $ 642,000.  This year the  change was in the numbers, not in the prices.
First half of 2008
Home sales dropped to  #105 homes
Home sale prices averaged $ 1,144,000
Condo sales dropped to  # 72
Condo sale prices  averaged $ 800,000

There is nothing like Sanibel.  It is a very special place.
Have a great week-
Glenn

Open Houses 

Nov 8 & 9th
NEW LIsting at # 720 Periwinkle Way- go to realtor.com for a video..
Sat and Sun 12-5 p.m.  Basin front deep water $ 1,839,000.
Must see!



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