Anna Maria Island, FL. Real Estate Newsletter JUNE, 2019
Sales on Anna Maria Island for May 2019 continue to run well behind sales for May 2018. Sales in May 2019 for Anna Maria City, Holmes Beach and Bradenton Beach were 45 (SF-28, Con-11, Dup-3 & Lot-3) down 15% again below May 2018 at 53 (SF-30, Con-19, Dup-1 & Lot-3). Two months into the second quarter sales for May 31, 2019 Y-T-D was 163 (SF-104, Con-45, Dup-9 & Lot-5) down 18% below May 31, 2018 Y-T-D at 198 (SF-120, Con-64, Dup-8 & lot-6). The inventory has dropped down this month and has been below 300 for thirteen of the last seventeen months. As I mentioned last month the average inventory over most of the past 30 years has been 400-450 properties for sale at any one time. Inventory is currently at 293 (SF-185, Con-74, Dup-21 & Lot-13). Inventory for the previous eighteen months were 305, 334, 338, 319, 291, 257, 249, 231, 214, 223, 240, 254, 267, 297, 297, 310, 290, 298. Although a little above 300 for the past four months it has again ticked down below 300 this month.
There is something for everybody on Frank & Al’s Great Buy’s list this month. If you’re looking for a fixer upper or tear down property close to the beach and Bay, then 2901 Ave C is for you. This ground level duplex is on two platted lots and ready for a new buyer to totally remodel or tear down and build a new home on each lot. Listed at lot value. If you’re looking for a 180 degree Bimini Bayfront view and an ideal boater’s home, then 543 67th St. HB is the one for you. This 2,909 sq. ft. 4bedroom/4bath Bimini Bayfront is the ultimate in boating paradise minutes to Tampa Bay or the intercostal. Another great boater’s home is 517 Key Royale Dr. It has 5bedrooms/5 baths with a great open water bayou view. 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.
To summarize the Anna Maria Island Real Estate Market for the first five months of 2019 continues to run slower than the previous 5 years. Pended properties (properties under contract) continue to be good at 55 (SF-32, Con-17, Dup-5 & Lot-1) a little below last month but still good. Distressed properties continue to be virtually non-existent with no distressed property for sale on the island and none in nine of the previous ten months. The distribution of the single family properties currently for sale on AMI continues to skew upward with only 2% or (4) <$500K, 19% or (36) 500K-750K, 20% or (39) between $750K and $1 million, 42% or (80) between $1 million and $2 million and 17% or (32) over $2 million. The distribution for Condos currently for sale is 57% or (48) <$500K, 29% or (24) $500K-$750K, 7% or (6) $750K – $1 million and 9% or (6) >$1 million. You can see that again 80% of the single-family prices are over $750K while 56% of the condos were below $500K. Again, the lower prices on condos is due to the fact that most of the condos on the island were built in the 70’s and 80’s and are 2 bedroom/2 bath, 1100 sq. ft. and there is not much you can do to improve them to increase the value other than new kitchens and bathrooms since they can’t be enlarged. Of the current inventory of 185 single family homes the lowest priced property is $419,000 (seaside gardens) and the highest is $5,750,000 an old gulf front cottage on a one-acre lot (the cottage is about $50K of the value the rest is the lot). Of the current inventory of 74 condos the lowest priced is $228,900 (Trade winds) and the highest $2,569,000 (Vista Grande). Of the single-family properties currently for sale on AMI, the average list price is $1,450,666 and the median list price is $1,225,000 and for condos the average list price is $568,092 and median list price is $475,000.
Longboat Key current inventory is 386 (SF- 115, Con- 237, Dup- 3 & Lot- 31) significantly lower than the last five months at 404, 442, 461, 455, 452 which were up from the six previous months at 314, 276, 277, 307, 320 and 377. Of the current inventory of 115 single family homes the average list price is $1,999,547 and the median list price is $1,362,500. The lowest priced single-family home on Longboat Key is $298,500 and the highest is $15,900,000. For the 237 condos for sale the average and median list prices respectively are $776,507 & $549,450 with the lowest $214,900 and highest $6,100,000. The Longboat Key inventory took a significant drop this month the same as the AMI inventory.
Have a great summer and keep those calls and e-mails coming!
We love hearing from you……Alan, Frank & Lynn
FRANK & AL’S GREAT BUYS
Entry Level Island Property:
Great opportunity to obtain two platted lots to build a home on each or if your handy you can fix up the existing duplex which sits across the two lots. A must see to appreciate.
55+ community WEST of Gulf Dr. with Gulf views from Living room!!! 2/2 GROUND level. Community has 2 pools, shuffleboard, community center, and it is a GULF FRONT complex.
Potential Rental Income:
- 129 52nd St HB, ($1,325,000)
Magnificent awaits you at Beachy Blue. This 4BR/4bath spacious home west of Gulf Dr. with great pool & spa is a short walk to the beach. All high end finishes. Too many features to list….a must see. This home has been a seasonal rental and did $82,400 in 2018. A great first or second home and/or rental.
West of Gulf drive single family 4bed/2 bath, 1,624 sq. ft. 2 car garage with pool. Gulf is at the end of the street. Recently improved with new kitchen and new tile throughout. A great second home or investment property. Currently a great rental.
Great Canal/Bay front Location:
Direct Bimini Bayfront with Panorama views with 3-4 bedrooms/4 full baths about 3000 sq. ft.
Two docks on 256 feet of seawall…great boater location. The lot is big enough to be split into two lots. Offered Unfurnished.
Boaters dream home in graceful Key Royale neighborhood with dock and 9000 lb. boat lift PLUS 2 additional docks for fishing, sunning or launching kayaks or paddle boards. Over 210 feet of seawall to pull a boat up to! No bridges to Tampa Bay or the Gulf of Mexico. 2,533 sq. ft. well maintained home….Come see this property.
Click on the property address to bring up the information & virtual tour or Call me for more information on these or other great properties…Alan (941)232-2216
See http://www.AnnaMariaLuxuryRealEstate.com NEWSLETTER for detailed charts and facts for Anna Maria Island Real Estate for sale.
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