Anna Maria Island, FL. Real Estate Newsletter February, 2020

Exquisite modern NEW home by Galletto Team

WOW this house seems to have it ALL

The year 2020 started off with a bang.  Sales for January 2020 for Anna Maria City, Holmes Beach and Bradenton Beach were 33 (SF-24, Con-9, Dup-0 & Lot-0) up 120% above January 2019 at 15 (SF-9, Con-5, Dup-1 & Lot-0) beginning the year up significantly.  Sales for the last 12 months were 393 (SF-252, Con-111, Dup-33 & Lot-7) up 4% above the previous 12 months at 379 (SF-219, Con-130, Dup-22 & lot-8).   The inventory continues to remain low at 314 after being below 300 for nineteen of the last twenty-five months.  Inventory is currently at 314 (SF-182, Con-94, Dup-16 & Lot-22).  Inventory for the previous twenty-five months were 312, 289, 279, 282, 292, 296, 293, 305, 334, 338, 319, 291, 257, 249, 231, 214, 223, 240, 254, 267, 297, 297, 310, 290, 298, and still historically low and still well below average  for this market.  Average sales for the last 16 years were 342, which includes 2004 and 2005 (the peak sales years).

There is something for everybody on Frank & Al’s Great Buy’s list this month.  Since last month’s newsletter two more of our properties went under contract, a canal home in Key Royale and a warehouse in Bradenton. 622 Hampshire Ln. and  5821 21st St E. Bradenton FL .  If you want the ULTIMATE new modern Tampa Bay Front home see 661 Key Royale.  It has it all, Oh My Goodness 4+ bedrooms and 5 Baths with 7000 sq. feet of FLORIDA under “roof” living area.  Next, for a 180 degree Bimini Bayfront view, ideal boater’s home then check out 543 67th St. HB . The city says this lot is big enough to split in half and build two homes or ready to be taken to the next level, the existing 2,909 sq. ft.  4bedroom/4bath Bimini Bayfront is the ultimate in boating paradise, deep water minutes to Tampa Bay or the intercostal; there is a ground level mother-in-law (MIL) suite.  For a great rental you can’t pass up 129 52nd St. HB.  West of Gulf Drive and a block from the beach and close to shopping with 4bedrooms/4 baths.  Call us to see the FANTASTIC rental income on this property which did $94,800 in gross annual rental income in 2019.  If you want to be almost on the Gulf then look at 103_47TH_ST. HB  a remodeled beach cottage with new pool and spa, 3bedrooms/3.5baths, one house from the beach and peaks of the Gulf in a very quiet part of the island.  Call me for more information on these or other real estate opportunities.  We can put you on your own automatic search for properties with your specific criteria, let us know what that is- today!

To summarize the Anna Maria Island Real Estate Market to start 2020, sales have started strong and the inventory is at a healthy level….not too high but not too low to inhibit sales.  Pended properties (properties under contract) stayed very healthy again at 68 (SF-33, Con-25, Dup-8 & Lot-2) above last month at 56 and a very healthy number which continues to bode well for a strong sales year in 2020.  Distressed properties continue to be non-existent again with no distressed property currently for sale on the island and only one in the last seventeen months.  The distribution of the single family properties currently for sale on AMI hasn’t changed much in the last year with only 3% or (5) <$500K, 15% or (27) 500K-750K, 17% or (30) between $750K and $1 million, 40% or (70) between $1 million and $2 million and 25% or (45) over $2 million.  The distribution for Condos currently for sale is 57% or (52) <$500K, 28% or (26) $500K-$750K, 5% or (5) $750K – $1 million and 10% or (9) >$1 million.  You can see that again 72% of the single-family prices are over $750K and 65% are over $1 million while 57% of the condos were below $500K.  This distribution of single-family prices and condo prices continues to remain significantly unchanged over the past year or so.  Of the current inventory of 182 single family homes again the lowest priced property is $249,000 (seaside gardens 1br/1bath again) and the highest is $7,995,000 a one acre gulf front complex built in the 1940’s but totally remodeled.  Of the current inventory of 94 condos the lowest priced is a 1br/1bath Tradewinds at $210,000 and the highest $2,569,000 still 3br/3bath gulf front Vista Grande.  The highs and lows for single family and condos haven’t changed for the last several months.  Of the single-family properties currently for sale on AMI, the average list price is $1,708,593 and the median list price is $1,399,000 and for condos the average list price is $581,483 and median list price is $489,450.

Longboat Key current inventory has popped up again to 378 (SF- 139, Con- 208, Dup- 3 & Lot- 28) higher than the last seven months at 364, 354, 309, 309, 274, 289,359 but lower than the previous six months at  386, 404, 442, 461, 455, 452. Of the current inventory of 139 single family homes the average list price is $2,234,924 and the median list price is $1,350,000.  The lowest priced single-family home on Longboat Key is $299,000 (2br/2bath home in Spanish Main) and the highest is still $19,750,000 (A 6BR/6 & 2half baths, 19,300 sq. ft. home on 1.18 acre on the Gulf) same as last month.   For the 198 condos for sale the average and median list prices respectively are  $845,442  &  $595,000 with the lowest $6,000 (a 2BR/2bath Longboat Bay Club Timeshare) and the highest $15,900,000 (a 23BR/20 bath 23,595 sq. ft. condo resort).

Have a great day and keep those calls and e-mails coming!  We love hearing from you and look forward to seeing you on the island……Alan, Frank & Lynn

 

See http://www.AnnaMariaLuxuryRealEstate.com NEWSLETTER for detailed charts and facts for Anna Maria Island Real Estate for sale.
941-232-2216 ALAN@AlanGalletto.com
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