Anna Maria Island, FL; Real Estate Newsletter January 2020

5614 Guava SFR 2/2

Fantastic cottage close to beaches and shoping, trolley or restaurants. 

 

Well another year is gone and real estate sales on Anna Maria Island for 2019 ended the year-to-date number of sales is down 6% below 2018 but still very healthy.  Sales for December 2019 for Anna Maria City, Holmes Beach and Bradenton Beach were 34 (SF-24, Con-6, Dup-4 & Lot-0) up 89% above December 2018 at 18 (SF-12, Con-6, Dup-0 & Lot-0) ending the year up significantly for the last two months of the year.  Sales for 2019 were 375 (SF-237, Con-107, Dup-24 & Lot-7) down only 6% below 2018 at 397 (SF-234, Con-131, Dup-23 & lot-9).   The inventory continues to remain low but popped up to 312 after being below 300 for nineteen of the last twenty-four months.  Inventory is currently at 312 (SF-179, Con-96, Dup-19 & Lot-18).  Inventory for the previous twenty-four months were 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 healthy for this market.  Average sales for the last 16 years which includes 2004 and 2005 (the peak sales years) were 342.  As I predicted in last month’s newsletter based on the trajectory of sale the last couple months we would end the year in the 375 range…….. Right on…..a healthy year.

There is something for everybody on Frank & Al’s Great Buy’s list this month.  Since last month’s newsletter two of the duplex properties went under contract, the duplex with a pool, steps to the beach at 200/202 66th St.  and  5616 Guava with an additional platted lot.  If you want the ULTIMATE new modern Tampa Bay Front home see 661 Key Royale.  It has it all, OMGoodness 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.  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 for 2019, number of sales were a little lower than the previous 2 years but not significantly so. Pended properties (properties under contract) stayed very healthy at 56 (SF-31, Con-16, Dup-5 & Lot-4) well above last month at 40 and a very healthy number which continues to bode well for a strong start of 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 sixeen 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 haven’t changed much and has continued to remain about the same for over the past year.  Of the current inventory of 179 single family homes again the lowest priced property is $429,900 (seaside gardens 1br/1bath again) and the highest is $6,850,000 a 4br/5.5 bath direct bay front.  Of the current inventory of 96 condos the lowest priced is a 1br/1bath Tradewinds at $210,000 and the highest $2,569,000 still 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 $1,687,227 and the median list price is $1,454,500 and for condos the average list price is $572,617 and median list price is $445,000.

Longboat Key current inventory has popped up again to 364 (SF- 133, Con- 198, Dup- 3 & Lot- 30) higher than the last six months at 354, 309, 309, 274, 289,359 but lower than the previous seven months at  386, 404, 442, 461, 455, 452, 314. Of the current inventory of 133 single family homes the average list price is $2,070,131 and the median list price is $1,320,000.  The lowest priced single-family home on Longboat Key is $299,000 (2br/2bath home in Spanish Main) and the highest is $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 $841,269 & $595,000 with the lowest $160,000 (a 2BR/1bath La Playa 699 sq. ft. unit) 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

 

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
#AnnaMariaLuxuryRealEstate #HouseHunting #BuyAHomeOnAnIsland #LuxuryRealEstate
ALAN@AlanGalletto.com