Real estate sales on Anna Maria Island continue at the pace it’s been at for the last few months, again due mostly to low inventory. Sales for the month of July 2022 at 34 were 31% lower than June 2022 at 49. Sales for July 2022 for Anna Maria City, Holmes Beach, and Bradenton Beach were 34 (SF-18, Con-14, Dup-1 & Lot-1) compared to June 2022 at 49 (SF-25, Con-20, Dup-1 & Lot-3). The inventory continues to be in the lowest range it’s been in 30 years and continues to be well below the average of 300 for 39 of the last 48 months. Inventory is currently at only 143 (SF-102, Con-31, Dup-8, Lot-2) Inventory for the previous 48 months were 145, 94, 79, 88, 82, 72, 72, 72, 76, 100,135, 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. Sales have slowed down slightly and the inventory is slowly starting to increase but it’s still very low.
Looking at the average sale price of single-family homes in Manatee County through May 2022 was up again 26.1% above June 2021 at $715,505 and the Median sale price was up 37.5% at $550,000. The current inventory has bumped up 78.8% at 826 from 462 in June 2021. The Pending sales are at 592 vs 710 last year. As far as you buyers…buying sooner is still better than later unless you aren’t going to buy for more than two years. Call (941) 232-2216 or email me at alan@alangalletto.com for an opinion on the value of the property you may want to sell, or for starting a search to find a property to buy today.
Since last month there are currently 28 properties that went pended SF-19, Condo-7, multi-family- 1, and the lots- 1. The single families were listed between $995,500 and $5,900,000; the condos between $525,000 and $1,250,000; One Multi-family at $1,350,000 and one lot at $1,650,000. Of the 94 single-family properties currently for sale, there is only 3 single-family properties under $1 million ($999,500) and only 23 between $1 Million and $2 Million the remaining range between $2,000,000 and $28,500,000.
To summarize the Anna Maria Island Real Estate Market sales for July 2022 were 21% lower than July 2021. The inventory has begun to creep up but is still in the lowest range I’ve seen it in 30 years, at again only 143 (SF-102, Con-31, Dup-8, Lot-2) 64% is close to last month at 145 but still lower than 5 of the last 14 months at 145, 94, 79, 88, 82, 72, 72, 76, 100, 135, 145, 155, 162 & 175. Pended properties (properties under contract) continue to remain about where they have been for the market at 28 (SF-19, Con-7, Dup-1 & Lot-1) lower than the previous fifteen months at 35, 59, 55, 63, 70, 85, 94, 95, 101, 87, 86, 90, 94, 112, 92. 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 thirty-nine months. The distribution of the 102 single-family properties currently for sale on AMI continues to skew to the high end with .9% (1) <$750K, 2% or (2) between $750K and $1 million, 23% or (23) between $1 million and $2 million and 25% or (25) between 2-3 Million and 50% or (51) over $3 million. As I mentioned above the lowest price single family home is 208 84TH St. HB listed at $929,000 a 2BR/2bath, 1,252 sq. ft. The highest-priced single-family home currently is still at 102 48th St. HB listed at $28,500,000 a 1940, remodeled 3,892 10BR.7.5 bath beach house directly on a gulf front lot. The distribution of the 31 Condos currently for sale on AMI is 3% or (1) <$500K, 53% or (16) $500K-$750K, 27% or (8) $750K – $1 million and 17% or (5) >$1 million. You can see that 97% of the single-family prices are over $1 million while 83% of the condos were below $ 1 million and only 17% over $1 million. Of the current inventory of 31 condos the lowest-priced unit, this month is a 1br/1 bath Tradewinds Condo at 1603 Gulf Dr. #31 BB listed at $489,000 and the highest is again a 4br/4 bath condo at L’Plage, 6430 Gulf Dr. #1, HB listed with a price increase at $3,098,000. The prices for single-family homes continue to move up rapidly while condos continue to creep up. Of the single-family properties currently for sale on AMI, the average list price is $3,797,568 and the median list price is $2,987,500 and for condos, the average list price is $940,307 and the median list price is $712,800.
We have left out Frank & Al’s best buys again this month since there is so little inventory, and it changes so fast. If you want to see any properties just call Lynn or me. We can also put you on your own automatic search for properties with your specific criteria so you can get them as soon as they go up for sale because the inventory is turning over so quickly, let us know what that is today!
Longboat Key current inventory popped up last month again to 92 (SF- 41, Con- 41, Dup- 1 & Lot- 9) but still in the low end of the range it’s been in the last twenty-eight months 76, 48, 41, 62, 48, 63, 59, 75, 127, 129, 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 41 single-family homes, the average price is $3,723,354 and the median list price is $2,650,000. For the 41 condos for sale, the average and median list prices respectively are $1,781,105 & $950,000.
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941-232-2216 ALAN@AlanGalletto.com
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