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

3BED-2BA AND 2BED-2BA

LIVE IN ONE SIDE RENT THE OTHER ACROSS FROM BEACH 3/2 & 2/2 WOW

          We are eleven months into 2019 and Anna Maria Island real estate sales are starting to catch up with the year-to-date sales for the year.  Real Estate Sales for November 2019 for Anna Maria City, Holmes Beach and Bradenton Beach were 33 (SF-20, Con-10, Dup-3 & Lot-0) up 45% above November 2018 at 23 (SF-15, Con-8, Dup-0 & Lot-0) and equal to sales in September at 22.  Sales through November 30, 2019 Y-T-D were 341 (SF-213, Con-101, Dup-20 & Lot-7) down only 10% below November 30, 2018 Y-T-D at 379 (SF-222, Con-125, Dup-23 & lot-9) compared to the last two months year to date when we were down 15%.   The inventory continues to remain low and has been below 300 for nineteen of the last twenty-four months.  Inventory is currently at 296 (SF-165, Con-91, Dup-20 & Lot-20).  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.  As I mentioned last month, the lower sales this year-to-date over last year-to-date isn’t because of low demand but primarily 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.  Average sales for the last 15 years which includes 2004 and 2005 (the peak sales years) were 340.  If you exclude the two peak years average sales for the last 13 years were 325.  Based on the current trajectory and with only one month to go we shout end the year in the 375 range…..a healthy year.

        There is something for everybody on Frank & Al’s Great Buy’s list this month.  If you’re looking for a duplex with a pool, steps to the beach, use one side and rent the other or rent both sides, then we have  200/202 66th St.  or  5616 Guava with an additional platted lot. Then why not add another duplex (next door) 201 58th St and the SFR (also next door) 5614 Guava and make a condo complex or resort out of it!?

If you’re looking for a 180 degree Bimini Bayfront views and an ideal boater’s home then 543 67th St. HB  still available.  Ready to be taken to the next level, this 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 mother-in-law suite on ground level.  If you want 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 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.          

         To summarize the Anna Maria Island Real Estate Market for the first eleven months of 2019 sales continue to run slower than the previous 5 years but not far behind. Pended properties (properties under contract) stayed very healthy at 40 (SF-25, Con-13, Dup-1 & Lot-1) a little below last month at 47 but still a very healthy number which continues to bode well for a strong closing of the year.  Distressed properties continue to be non-existent again with no distressed property currently for sale on the island and only one in the last fifteen 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, 20% or (33) 500K-750K, 16% or (25) between $750K and $1 million, 35% or (56) between $1 million and $2 million and 26% or (42) over $2 million.  The distribution for Condos currently for sale is 58% or (52) <$500K, 28% or (25) $500K-$750K, 5% or (4) $750K – $1 million and 9% or (8) >$1 million.  You can see that again 77% of the single-family prices are over $750K and 61% are over $1 million while 58% 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 165 single family homes again 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 91 condos the lowest priced is again $225,000 (Lay-z-liv-n condo) 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 $1,634,936 and the median list price is $1,399,000 and for condos the average list price is $571,201 and median list price is $445,000.

         Longboat Key current inventory has popped up to 354 (SF- 136, Con- 188, Dup- 2 & Lot- 28) higher than the last four months at 309, 309, 274, 289 but lower than the previous eight months at 359, 386, 404, 442, 461, 455, 452, 314. Of the current inventory of 136 single family homes the average list price is $2,041,467 and the median list price is $1,324,500.  The lowest priced single-family home on Longboat Key is $225,000 (2br/2bath home in Spanish Main) and the highest is $22,500,000 (A 6BR/6 & 2half baths, 19,300 sq. ft. home on 1.18 acre on the Gulf) same as last month.   For the 188 condos for sale the average and median list prices respectively are $785,026 & $595,000 with the lowest $160,000 (a 2BR/1bath La Playa 699 sq. ft. unit) and the highest $3,875,000 (a 3BR/3.5 bath 3,344 sq. ft. gulf front unit at Positano).

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.

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941-232-2216 ALAN@AlanGalletto.com

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