3 bedroom 2.5+ bath Close to beaches

   Happy New Year 2015 turned out to be another strong year. Three of the last four years sales have been over 400 and we’ve seen continuous appreciation in prices at an average of 6% since 2010.

 Sales in 2015 again were strong among all property types and showed average and median sales prices up again from 2014. December 2015 sales were 32 (SF-15, Con-13, Dup-3 & Lot-1) down slightly from December 2014 at 36 (SF-20, Con-15, Dup-0 & Lot-1). December 31, 2015 Y-T-D sales were 407 (SF-228, Con-128, Dup-27, Lot-24) up 7% over December 31, 2014 at 381 (SF-219, Con-106, Dup-34 & Lot-22). Of the 2015 sales only 5% or 22 (SF-12, Con-8, Dup-2 & Lot-0) were distressed properties (bank owned or short sales) compared to 6% or 22 (SF-10, Con-3, Dup-8 & Lot-1) in 2014. Inventory on the island continues to remain low but is slightly up at 309 (SF-179, Con-84, Dup-16 & Lot-30). The inventory last month was 289 and for over the last year the inventory has been below 300.
If you’re looking for some very good properties to buy check out Frank, Al & Scott’s Great Buys this month. The best investment buy in the whole inventory is still 3603 4th Avenue. It has averaged $90K in gross annual rental income which makes it a 10 ratio (purchase price/Gross annual rental income) at list price. Check out the Cost of Ownership Analysis attached to Newsletter for 3603 4th Ave. If you’re looking for an entry level condo check out 2814 Gulf Drive a 3 unit condo with 2 bedroom units listed at $379,900 or if you only need 1 bedroom look at 308 2nd St N. a 4 unit condo with units listed from $234,000. If you’re looking for a beach cottage close to the beach in Anna Maria check out 727 Jacaranda a 3 bedroom/2.5 bath beach home steps to the beach on a 12,600 sq. ft. lot with a very large well landscaped pool area listed at $1,149,900.Check out the other great buys this month.

Beach home for sale

 To summarize the market, 2015 was one of the best five years for sales on the island (all over 400 sales) since 2002. Distressed properties remain low and will continue to do so into the future. There are currently no distressed properties in the inventory. Pended properties (properties under contract) are above average at 34 (SF-21, Con-7, Dup-3 & Lot-3). The distribution of the single family sales on the island in 2015 was 24% <$500K, 43% 500K-750K, 17% between $750K and $1 million and 16% over $1 million. The distribution for Condo sales in 2015 is 83% <$500K, 13% $5000K-$750K, 2% $750K – $1 million and 2% >$1 million. Looking at the charts on the website withinour newsletter you can see that single family and condo average & median sales prices for 2015 are up significantly over 2014 with single family average & median sales price up 5%, condo average & median sales prices are up 6% & 9% respectively. The bottom line is that the current market is as good as the island market has ever been.
Longboat Key current inventory is 374 (137-SF, 208-Con, 3-Dup & 26-Lot). Pended properties on Longboat Key is 43 (SF-16, Con-25, Dup-0 & Lot-2) and Distressed properties on Longboat Key are only 2 (SF-1, Con-1, Dup-0 & Lot-0). The distribution for single family home sales on Longboat Key for 2015 was 23% <$500K, 28% $500K – $750K, 17% $750K – $1 million & 32% >$1 million. The distribution for Condo sales on Longboat Key for 2015 was 51% <$500K, 26% $500K – $750K, 11% $750K – $1 million & 12% >$1 million.
 The year 2015 was one for the record books in real estate sales for both Manatee and Sarasota counties, closing out the year with an all-time record of 20,691 in combined closed transactions, 1,302 sales above last year’s numbers. You can see that the market is not only very good on the island but also doing great on the mainland as well.