Condos and private homes are available for purchase with some 25 local realtors handling listings, according to the Sanibel-Captiva Chamber of Commerce. Buying undeveloped property is trickier and more expensive. About half of Sanibel public land is dedicated to wildlife refuges, so it is at a premium.
As of May 2015, the list price for average single-family homes, including condominiums, with 2.74 bedrooms and 2.41 baths is $960,817, or an average price of $522.48 per square foot. Prices for one-bedroom homes average $386,465, $645,7173 for two bedrooms, $1,079,5784 for three bedrooms, $1,706,090 for four bedrooms and $4,099,273 for five bedrooms. Homes for sale spend an average of 253 days on the market.
Even though much of Sanibel Island is devoted to wildlife refuges and habitat preservation, opportunities to buy undeveloped real estate still exist. Away from the beachfronts, vacant lots are priced between $125,000 for a one-acre double lot to $599,000 for 25,874 square feet and $699,000 for canal frontage. Beach lots range from $459,000 to $3,740,000 for approximately two acres. In addition to special considerations of living in a tourist destination that is also a national park, prospective buyers must take into account deed restrictions and the cost to insure a home in a hurricane zone.