Sales for November 2014 were below last year at 20 (SF-10, Con-8, Dup-1 & Lot-1) compared to November 2013 at 34 (SF-20, Con-10, Dup-2 & Lot-2).  Sales for November 30, 2014 Y-T-D were 343 (SF-199, Con-91, Dup-32 & Lot-21) down about 9% from November 30, 2013 Y-T-D at 374 (SF-224, Con-110, Dup-20 & Lot-20).  Sales for the last 12 months were 376 (SF-212, Con-101, Dup-37 & Lot-26) down 9% from sales for the previous 12 months at 412(SF-251, Con-119, Dup-21 & Lot-21).  Of the sales for the last 12 months distressed properties were only 5% of the sales at 22 ( SF-10, Con-4, Dup-7 & Lot-1) compared to the previous 12  months were 8% or 33 ( SF-16, Con-9, Dup-7 & Lot-0) were distressed.  Currently there are only 6 distressed properties (2 single family, 1 short sale & 1 bank owned and 4 condos, 1 short sale & 3 bank owned) or 2% of the inventory of only 284 (SF-153, Con-82, Dup-16 & Lot-33) for sale on the island.  Pended properties (properties under contract) are in the normal range at 31 (SF-21, Con-7, Dup-2 & Lot-1)Inventory on the island continues to stay pretty low and steady in the low 300’s over the last 10 months but this is the fourth month in a row that we have been under 300 properties for sale on the island  since 2005.


Frank, Larry’s & Al’s Great Buy’s for this month have not changed much from last month. Again I’d like to point out a couple very strong investment buys on the list.  The property at 3603 4th Ave (recently reduced to $959K) is a 3 bedroom/3 bath townhouse with elevator, pool and a roof top deck with awesome views of the gulf and inter-coastal and an excellent rental history.  It does over $90K in gross annual rental income which makes it a 10 ratio (rental income covers all the operating costs and most of the mortgage with 20% down) and is ideal for someone who wants a property in a great location (three houses to the beach) and in move-in condition.  Another excellent rental income property is 103 75th Street a totally remodeled 4 bedroom/4 bath beach house one house to the beach with a pool.  This property has never been rented but would do around $100K in annual rental.  I have another fantastic new listing that just went into MLS.  It’s an elegantly stunning single family beach house 3,639 sq. ft. under A/C and 5,582 sq. ft. under roof only 4 houses from the beach on 3 platted lots.  The amenities are too numerous to list you must see it.  Call or email me if you want more information.  Check out the rest of the Great Buy’s.


To summarize the island market, again sales in 2014 looks like they will end up at record levels although just short of the 400 mark.  Again, single family sales remain strong with 199 sold Y-T-D a little under last year at this time.  The average price of single family sales for 2014 Year-To-Date is up 8% over last year at this time and median single family sales prices are up 17 % over last year.  Average condo sales prices for Y-T-D 2014 is up 9% over last year and median condo sales prices are up 8% over last year.  Average duplex sales are up 13% over last year and median duplex sales are up7% over last year.  The immediate future looks to continue this trend of rising prices at about the average 30 year rate of 7%-10% which is very healthy and sustainable.  The inventory continues to be down into the historical low range hitting below 300 at 284 for the fourth month in a row since 2005.  The inventory seems to be ticking up a little and that’s probably because the sales have ticked down a little.  We’ll see if this trend is going to continue or if sales will tick up from here.  In either case it doesn’t seem to be affecting average and median sales prices as of yet.  Single family homes continue to sell in record numbers well above the 2005 peak while condos sales are still well below the 2005 peak.  One reason for that is many duplexes have been torn down over the last six years and were converted to single family land condos which show up as single family sales.

Ask Alan Galletto-THE Realtor for real estate on Anna Maria Island, FL. 941.232.2216