Duplex close to Beaches on Anna Maria Island

2bedroom / 2 bath on one side and 1/1 on other.

Anna Maria Island real estate sales continue to get stronger each month in 2020.  Sales for the month of October continue to be this year in the highest range we have seen since 2005.  I think sales for 2020 will end the year in the 500 range, the highest yearly sales ever recorded.  Also the Inventory continues to remain the lowest I’ve seen in the last 25 years so the sales have not slowed down.  Sales for October 2020 for Anna Maria City, Holmes Beach and Bradenton Beach were 64 (SF-39, Con-20, Dup-3 & Lot-2) up 291% above October 2019 at 22 (SF-13, Con-6, Dup-2 & Lot-1).  Sales for October 2020 Y-T-D were 451 (SF-258, Con-145, Dup-24, Lot-24) up 146% above October 2019 Y-T-D at 308 (SF-193, Con-91, Dup-17, Lot-7).  Sales for the last 12 months were 418 (SF-302, Con-161, Dup-31 & Lot-24) up 120% above the previous 12 months at 349 (SF-220, Con-105, Dup-17 & lot-7).   The inventory continues to be the lowest it’s been in 25 years and continues to be below 300 for twenty-six of the last thirty-four months and thirteen of the last sixteen months.  Inventory is currently at only 155

(SF-85, Con-54, Dup-8 & Lot-8).  Inventory for the previous thirty-four months were 162, 175, 196, 230, 261, 253, 274, 308, 314, 312, 289, 279, 282, 292, 296, 293, 305, 334, 338, 319, 291, 257, 249, 231, 214, 223, 240, 254, 267, 297, 297, 310, 290, 298, and again has hit a new low for this market.  Single family sales for Manatee County September Y-T-D were up 37% above 2019 September Y-T-D and the current inventory is down 46% from 2019 at this time.

As I said last month for those of you thinking of selling within the next year or so now would be a good time to put your property on the market while it’s a sellers’ market.  Call or email me for an opinion of value today (941) 232-2216 or alan@alangalletto.com.

Since last month’s newsletter there again has been a lot of activity.   214 66th St.  HB, closed for $475,000, and the property at 2301 Gulf Dr.#104  BB just went under contract and we put 747 Jacaranda Rd. AM under contract as well, two houses to the beach.  Still available is the 180 degree Bimini Bayfront view, the ideal boater’s home, check out 543 67th St. HB.  Take the current home to the next level, the existing 2,909 sq. ft.  4bedroom/4bath Bimini Bayfront is the ultimate in boating paradise, deep water minutes to Tampa Bay or the intercostal or tear down and build new.  If you are looking for a great rental  304 65th St. HB recently became available.  A 5BR/3.5 Bath a short walk to the beach with a resort-style pool and spa with large outdoor bar (see Frank & Al’s great buy’s).  Call us to see the property that meets your needs.  If you want to be directly on Tampa Bay then look at the home at 705 Key Royale Dr. HB  a 3-5 bedroom/ 3bath 1993 sq. ft. waterfront home with all the amazing views you would expect.     If you want to see this or any property just call Lynn or me.  We can also put you on your own automatic search for properties with your specific criteria, let us know what that is- today!

To summarize the Anna Maria Island Real Estate Market for the first ten months of 2020, sales were 146% above the first ten months of 2019.  The inventory continues to drop and be the lowest I’ve seen it in 25 years, at 155 down from 162 & 175 the last two months.  Pended properties (properties under contract) continue to stay strong at 85 (SF-43, Con-35, Dup-4 & Lot-3) close to last month at 94 and in the middle of the previous four months at 112, 92, 71 & 42.  Distressed properties continue to be non-existent as they have been for the last couple of years with none in the current inventory and only two in the last twenty-five months.  The distribution of the single family properties currently for sale on AMI continues to skew to the high end with only 5% or (4) <$750K, 13% or (11) between $750K and $1 million, 38% or (32) between $1 million and $2 million and 44% or (37) over $2 million.  The distribution for Condos currently for sale on AMI is 34% or (18) <$500K, 26% or (14) $500K-$750K, 22% or (12) $750K – $1 million and 18% or (10) >$1 million.  You can see that 95% of the single-family prices are over $750K and 85% are over $1 million while 34% of the condos were below $500K.  As you can see again single family prices are going up much faster than condo prices.  Of the current inventory of 85  single family homes the lowest priced property is $515,000 (a 2br/1bath half-duplex at 205 #B 71st St and the highest is again $6,800,000 a 3/4 acre gulf front complex built in the 1940’s but totally remodeled at 103 79th St.  Of the current inventory of 58 condos the lowest priced is again this month a 1br/1bath Trade Winds condo at $229,500 and the highest $2,199,000 a 3br/3bath direct gulf front Vista Grande unit. BTW; the Rental department estimates this unit could gross about $125k.  The prices for single family homes continue to move up while condos remain almost flat.  Of the single-family properties currently for sale on AMI, the average list price is $2,154,228 and the median list price is $1,799,900 and for condos, the average list price is $754,099 and the median list price is $592,000.

Longboat Key current inventory has for the sixth month dropped down again significantly to 172 (SF- 56, Con- 96, Dup- 1 & Lot- 19) the lowest it’s been in the last sixteen months 178, 199, 218, 275, 295, 337, 388, 386, 378, 364, 354, 309, 309, 274, 289,359 and significantly lower than the previous seven months at 388, 386, 404, 442, 461, 455, 452. Of the current inventory of 56 single family homes, the average list price is $2,661,514 and the median list price is $1,647,000.  For the 96 condos for sale, the average and median list prices respectively are $1,201,667 & $755,000.

Hope you are enjoying the fall weather. Keep those calls and e-mails coming.

Please, continue to stay safe!

We love hearing from you and look forward to seeing you on the island……Alan, Frank & Lynn

Click  HERE for FULL NEWSLETTER and detailed charts and facts for Anna Maria Island Real Estate for sale.

941-232-2216     ALAN@AlanGalletto.com
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