Newsletter August 2019 * Anna Maria Island, FL; Real Estate

Westwinds 2/2 GULF frontSales on Anna Maria Island for July 2019 ran well behind sales for July 2018 which kept the 2019 Y-T-D vs 2018 Y-T-D gap on average where it’s been all year.  Sales for July 2019 for Anna Maria City, Holmes Beach and Bradenton Beach were 29 (SF-20, Con-8, Dup-1 & Lot-0) down 33% below July 2018 at 43 (SF-27, Con-13, Dup-2 & Lot-1).  Sales through July 31, 2019 Y-T-D were 237 (SF-148, Con-70, Dup-14 & Lot-5) down only 15% below July 31, 2018 Y-T-D at 277 (SF-164, Con-90, Dup-14 & lot-9) compared to last month year to date when we were down 11%.   The inventory has dropped down this month and has been below 300 for sixteen of the last twenty months.  Inventory is currently at 292 (SF-171, Con-81, Dup-23 & Lot-17).  Inventory for the previous twenty months were296, 293, 305, 334, 338, 319, 291, 257, 249, 231, 214, 223, 240, 254, 267, 297, 297, 310, 290, 298.  Lower sales this year over last year isn’t because of low demand but because the inventory continues to be low and buyers are not finding what they want to buy so they wait until it comes on the market.  Sales are still healthy for this market.

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 HB is for you.  Again I don’t know why this hasn’t sold already.  This ground level duplex is on two platted lots and ready for a new buyer to tear it down and build a new home on each lot.  Listed at lot value…you can’t buy a lot for $225K.  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.  Ready to be taken to the next level, this 2,909 sq. ft.  4bedroom/4bath Bimini Bayfront is the ultimate in boating paradise minutes to Tampa Bay or the intercostal.  If you want a great rental another great property is 129 52nd St. HB.  west of Gulf Drive with 4bedrooms/4 baths.  If you want to be almost on the Gulf then look at 103_47TH_ST. HB  a remodeled beach cottage with pool and spa one house 3bedrooms/3.5baths from the beach and peaks of the Gulf.  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 seven months of 2019 continues to run slower than the previous 5 years and Pended properties (properties under contract) dropped down this month to 25 (SF-15, Con-7, Dup-3 & Lot-0) well below last month.  We’ll see if this trend continues or is just a blip.  Distressed properties continue to be virtually non-existent with no distressed property for sale on the island and none in eleven of the previous twelve months.  The distribution of the single family properties currently for sale on AMI continues to skew upward and hasn’t changed much in the last year with only 5% or (9) <$500K, 15% or (25) 500K-750K, 20% or (34) between $750K and $1 million, 37% or (64) between $1 million and $2 million and 23% or (39) over $2 million.  The distribution for Condos currently for sale is 59% or (48) <$500K, 27% or (22) $500K-$750K, 5% or (4) $750K – $1 million and 9% or (7) >$1 million.  You can see that again 80% of the single-family prices are over $750K while 59% of the condos were below $500K.  This distribution of single family prices and condo prices has continued to remain about the same for over a year.  Of the current inventory of 171 single family homes the lowest priced property is $359,000 (seaside gardens again) and the highest is still $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 81 condos the lowest priced is $229,900 (still Trade winds) and the highest $2,569,000 (still Vista Grande).  The highs and lows for single family and condos haven’t changed for several months.  Of the single-family properties currently for sale on AMI, the average list price is $1,540,037 and the median list price is $1,350,000 and for condos the average list price is $562,970 and median list price is $475,000.

Longboat Key current inventory is 289(SF- 90, Con- 170, Dup- 0 & Lot- 29) lower than the last seven months at 359, 386, 404, 442, 461, 455, 452 and from most of the six previous months at 314, 276, 277, 307, 320 and 377.  Of the current inventory of 90 single family homes the average list price is $2,114,478 and the median list price is $1,350,000.  The lowest priced single-family home on Longboat Key is $294,500 (2br/2bath in Spanish Main) and the highest is $22,500,000 (A 19,300 sq. ft. home on 1.18 acre on the Gulf) same as last month.   For the 170 condos for sale the average and median list prices respectively are $744,117 & $545,000 with the lowest $160,000 (a 2BR/1bath La Playa 699 sq. ft. unit) and the highest $6,100,000 (a 4BR/4.5 bath 3,921 sq. ft. gulf front unit).  The Longboat Key inventory took a significant drop this month the same as the AMI inventory.

On Anna Maria the average sale price for single family homes since last July has gone up 19% and the median sale price has gone up 9%.  For condos over that same period the average sale price went up 9% and the median sale price went up 4%.  A continued healthy market.

Have a great Labor 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

 

June 2018 VS. June 2019 STATS ON ANNA MARIA ISLAND

 

  # Sld 7/2018 #Sld 7/2019          Pending Inventory
HOMES 27 20 15     171
CONDOS 13 8 7       81
M/FAMILY 2 1 3       23
LOTS 1

____

0

____

0

____

      17

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TOTAL 43 29 25     292

 

 

Aug 1, 2017 – July 31, 2018 SALES ON ANNA MARIA ISLAND

  # Sold Lowest Highest Avg. Sale Price Median Sale Price
HOMES 237 $265,000 $4,500,000       $1,043,361 $840,000
CONDOS 143 $ 175,000     $1,999,000 $465,006 $395,000
DUPLEXES   24 $409,000 $1,575,000 $725,021 $607,500
LOTS   13  $225,000 $1,450,000 $535,654 $490,000
TOTAL 417        

 

 

Aug 1, 2018 – July 31, 2019 SALES ON ANNA MARIA ISLAND

  # Sold Lowest Highest Avg. Sale Price Median Sale Price
HOMES 218 $250,000 $5,000,000       $1,082,853 $850,000
CONDOS 111 $180,000 $1,750,000       $   427,842 $355,000
DUPLEXES 23 $380,000     $2,375,000       $   905,452 $735,000
LOTS   5 $365,000     $1,200,000       $   770,000 $800,000
TOTAL 357        

 

 

 SALES 2004-2018

2018  2017  2016  2015  2014  2013  2012  2011  2010  2009  2008  2007  2006  2005  2004  

 

SF       234     225   212   228    219     237    245    174    187    118    121     111      74     182   243

CON   131     135   109   128    106     120    126    126      94      84      57       71       45    186   101

DUP       23      25      24     27      34       26      27     16       23      10      26       10       15      53     70

LOTS      9      18      16     24       22      25      33      24      15      12        7         7         4      17      21

TOT    397     403    361   407     381   408     431   340    319    224     211     199     138    438   435

 

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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