Discover a little peace of paradise , just down the road to the beaches of Anna Maria Island on the Gulf of Mexico
The inventory is not only low on Anna Maria Island but is also below the historic averages for Florida in general. According to data from the census bureau and the National Association of Realtors, inventory remains well below historic averages and is 50% less than the peak in 2006. On Anna Maria Island the inventory has remained well below 300 properties for most of this year while sales for November 30, 2017 Y-T-D are up 12% over sales for November 30, 2016 Y-T-D. As of November 30, 2017 Y.T.D. Anna Maria Island property sales were; 373 (SF – 209, Con – 125, Dup – 23, & Lots -16) compared to November 30, 2016 Y-T-D at 333 (SF-197, Con-97, Dup-23 & Lot-16). The number of sales in November 2017 at 33 (SF-16, Con-14, Dup-3, Lot-0) is up 10% over November of 2016 at 30 (SF-18, Con-8, Dup-3, Lot-1).
The last 12 months of Florida Real Estate sales for Anna Maria City, Holmes Beach and Bradenton Beach (December 1, 2016 to November 30, 2017) were 401 (SF-224, Con-137, Dup-24, Lot-16) up 10% from the previous 12 months (December 1, 2015 to November 30, 2016) at 366 (SF-213, Con-111, Dup-26 & Lot-16). Of the last 12 months sales only 1% or 5 (SF-3, Con-1, Dup-1 & Lot-0) were distressed properties (bank owned or short sales) equal to the previous 12 months (December 1, 2015 to November 30, 2016) at 1% or 5 (SF-3, Con-1, Dup-1 & Lot-0). Inventory has ticked up a bit but continues to remain at historically low levels and is currently at 249 (SF-144, Con-78, Dup -15 & Lot-12). Of those 249 listed properties the city of Anna Maria has 58-SF, 1-condo, 2-duplex & 4-lots. Holmes Beach has 72-SF, 43- condos, 7-duplexes & 6-lots. Bradenton Beach has 14-SF, 34-condos, 6-duplexes & 2-lot. Inventory for the previous twelve months were 231, 214, 223, 240, 254, 267, 297, 297, 310, 290, 298, 314. Demand remains strong as you can see by the strong year-to-date sales numbers.
Well one of the properties that was under contract on Frank, Scott & Al’s Great Buy’s last month, a direct gulf front, listed at $2,599,000 closed on 12/13/17 for $2,150,000. This month’s great buys remain the same as last month. The property at 100 4thSt. S. Bradenton Beach listed at $1,048,800 is a 5 unit Inn that has consistently produced $155,000 of gross annual rental income netting $70,000. The other is an up & down duplex both 2 bedroom/2 bath for each level at 6407 Gulf Dr. Holmes Beach just across the street from the beach which does about $80,000 in gross annual rental. Again if you’re looking for one of the newer gulf front condos which also rents very well you should consider 6420 Gulf Drive L’Plage #3 in Holmes Beach listed at $1,499,000. It is a 2,484 square foot, 3 bedroom + den, 3 bath condo, two garage parking spaces and elevator with partial gulf views. Call me for more information on these or other real estate opportunities.
To summarize the Anna Maria Island market for the first Eleven months of 2017 sales continue to remain very strong and the inventory continues to remain very low. We continue to run ahead of last year-to-date and with only one month left in this year we will definitely close the year over the 400 mark in sales for 2017. Pended properties (properties under contract) are at 36 (SF-26, Con-6, Dup – 2 & Lot-2). Distressed properties continue to be non-existent again with no distressed properties in the current inventory.
Of the current inventory on Anna Maria Island of 144 single family homes the average sale price is $1,168,969 and the median sale price is $949,000. The lowest price single family home on the island is currently $387,500 and the highest price $4,595,000. For the 78 condos for sale on the island, the average and median prices respectively are $555,094 & $450,000 with the lowest $199,000 and highest $1,850,000.
Longboat Key’s current inventory is 369 (SF-100, Con- 231, Dup- 2 & Lot- 36) one of the lowest levels in the past thirteen months (342, 322, 302, 303, 331, 393, 437, 456, 469,304, 314, 336, 345). Of the current inventory of 100 single family homes the average sales price is $2,527,500 and the median sale price is $1,195,000. The lowest priced single family home on the Longboat Key is $295,000 and the highest is $26,500,000. For the 231 condos for sale the average and median prices respectively are $803,863 and $575,000 with the lowest $204,900 and highest $6,100,000. Pended properties on Longboat Key are 50 (SF-21, Con-28, Dup-0 & Lot-1) down a bit from last month and about average for the last 13 months 55,37,45, 57, 61, 66, 68, 79, 86, 45, 54, 49, 62.
Keep those calls and e-mails coming! We love hearing from you and stop in to see us when you’re on the island……Alan, Frank, Scott & Lynn
THE GALLETTO TEAM of Island Real Estate, 6101 Marina Drive, Holmes Beach FL 34217.
For detailed charts see the entire newsletter on our website; http://www.AnnaMariaLuxuryRealEstate.com
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