4-plex resort style pool

4+Plex with income possibilites Update and make it an Island Paradise of your own.

Well, its official!  Real estate sales for 2020 on Anna Maria Island ended the year at 579. Higher than any year since we have been recording sales.  The previous high was 438.  Sales for the month of December were 68, twice as high as sales for December 2019 at 34.  Inventory continues to remain the lowest I’ve seen it in the last 25 years at 135.  Sales for December 2020 for Anna Maria City, Holmes Beach and Bradenton Beach were 68 (SF-39, Con-24, Dup-1 & Lot-4) up 200% above December 2019 at 34 (SF-24, Con-6, Dup-4 & Lot-0) after being up 179% and 299% over the last two months.  Sales for December 31, 2020 Y-T-D were 579 (SF-327, Con-194, Dup-28, Lot-30) up 54% above December 2019 Y-T-D at 375 (SF-237, Con-107, Dup-24, Lot-7).  The inventory continues to be the lowest it’s been in 25 years and continues to be below 300 for twenty-eight of the last thirty-six months and fifteen of the last seventeen months.  Inventory is currently at only 135 (SF-73, Con-42, Dup-9 & Lot-11).  Inventory for the previous thirty-six months were 145, 155, 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 December 31,2020 Y-T-D were up 63% above December 31,2019 Y-T-D and the current inventory is down 216% from 2019 at this time.

I can not say this strongly enough;  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 is a sellers’ market as far as you buyers…buying sooner is better than latter.  Call (941) 232-2216 or email me at alan@alangalletto.com for an opinion of value or starting a search to find a property today.

Since last month’s newsletter there continues to be a lot of activity.   2915 Ave E. #2 HB, closed for $515,000, and the property at 2310 Gulf Dr. #104 closed for $520,000. The property at 517 KR, HB just went under contract and also so did 7100 Gulf Dr. #202, HB as well, on 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.  4 bedroom/4 bath 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 the Bay then look at the home at 238 S. Harbor Dr. HB  a 5 bedroom/ 4.5 bath 3,526 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 twelve months of 2020, sales were 55% above the twelve months of 2019.  The inventory continues to drop and continues to be the lowest I’ve seen it in 25 years, at 135 (SF-73, Con-42, Dup-9, Lot-11) down from 145, 155, 162 & 175 the last four months.  Pended properties (properties under contract) remains strong at 87 (SF-47, Con-31, Dup-7 & Lot-2) close to last month at 86 and in the middle of the previous six months at 90, 94, 112, 92, 71 & 42.  Distressed properties continue to be non-existent as they have been for the last couple of years with again none in the current inventory and only two in the last twenty-seven months.

The distribution of the single-family properties currently for sale on AMI continues to skew to the high end with only 5% or (5) <$750K, 12% or (9) between $750K and $1 million, 36% or (26) between $1 million and $2 million and 47% or (34) over $2 million.  The distribution for Condos currently for sale on AMI is 33% or (14) <$500K, 29% or (12) $500K-$750K, 19% or (8) $750K – $1 million and 19% or (8) >$1 million.  You can see that 95% of the single-family prices are over $750K and 83% are over $1 million while 33% 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 73  “single family homes” the lowest priced property is $525,000 (a 1br/1bath) home at 205 peacock Lane HB and the highest is again $6,495,000 a 1/2 acre gulf front tear down built in 1960 at 5102 5th Ave. HB  Of the current inventory of 42 condos the lowest priced unit this month is a 2br/1bath  condo at 611 Gulf Dr. Imperial House D26 BB listed at $300,000 and the highest $2,199,000 a 3br/3bath direct gulf front Vista Grande unit 4 HB. BTW; our rental department estimates this unit could gross about $125k.  The prices for single family homes continue to move up rapidly while condos continue to remain flat.  Of the single-family properties currently for sale on AMI, the average list price is $2,308,936 and the median list price is $1,995,000 and for condos, the average list price is $769,459 and the median list price is $588,944.

Longboat Key current inventory has for the eighth month dropped down again significantly to 129 (SF- 50, Con- 89, Dup- 1 & Lot- 16) the lowest it’s been in the last eighteen months 156, 172, 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 37 single family homes, the average list price is $2,541,916 and the median list price is $1,595,000.  For the 75 condos for sale, the average and median list prices respectively are $1,299,236 & $750,000.

Hope you are enjoying the fall weather (we don’t do winter here!!  HA).

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


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941-232-2216 ALAN@AlanGalletto.com

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