Walk past two homes to the white sand beach of Anna Maria Island
Real estate sales on Anna Maria Island continue to be slow in 2023 compared to the past couple of years. Sales for JUNE 2023 for Anna Maria City, Holmes Beach, and Bradenton Beach were 42 (SF-30, Con-10, Dup-2 & Lot-0) compared to JUNE 2022 at 24 (SF-11, Con-12, Dup-0 & Lot-1). Although sales remain low the inventory continues to remain low as well, still well below the normal average of 350-400. Inventory is currently at only 232 (SF-161, Con-50, Dup-11, Lot-10) Inventory for the previous 51 months (about 4 years) were 205, 193, 111, 143, 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 on the island continue to remain low as does the inventory on the island.
Since last month, 37 properties went pended on AMI, SF -22, Condo -14, multi-family -0, and the lots -1. The single families were listed between $540,000 and $4,350,000; the condos between $399,000 and $1,095,000; zero multi-families and one lot at $2,900,000. Of the 145 single-family properties currently for sale, there are only 3 single-family properties under $1 million and only 28 between $1 Million and $2 Million the remaining range between $2,000,000 and $22,500,000.
To summarize, the Anna Maria Island Real Estate Market sales for JUNE 2023 were 75% higher than JUNE 2022. The inventory is still in the lowest range it’s been in 20 years, at again only 232 (SF-161, Con-50, Dup-11, Lot-10) 13% higher than last month at 205, inching up but still in the general range of the last 18 months at 205, 139, 111, 143, 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 37 (SF-22, Con-14, Dup-0 & Lot-1) but lower than four of the previous nineteen months of 50, 17, 27, 28, 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 forty-five months. The distribution of the 161 single-family properties currently for sale on AMI continues to skew to the high end with 2% (3) <$1 million, 17% (28) between $1 million and $2 million, and 25% or (40) between 2-3 Million and 56% or (93) over $3 million. As I mentioned above the lowest price single-family home is 445 62nd St. HB listed at $439,900 for a 1bath, 616 sq. ft. Villa, no pool. The highest-priced single-family home currently is at 104 Sunset Ln. AM listed at $22,500,000 newly built in 2023 6 BR 6 full baths 7,163 sq. ft. direct gulf-front with pool. The distribution of the 44 Condos currently for sale on AMI is 16% or (7) <$500K, 55% or (24) $500K-$750K, 14% or (6) $750K – $1 million, and 15% or (7) >$1 million. You can see that 98% of the single-family prices are still over $1 million while 85% of the condos were below $1 million and only 15% were over $1 million. Of the current inventory of 50 condos the lowest-priced unit, this month is a 1br/1 bath Runaway Bay Condo at 1801 GULF DRIVE N Unit #215 BB, listed at $425,000 and the highest is a 2br/2 bath 1,398 sq. ft. Island Paradise Condo at, 3708 Gulf Dr #1, HB is listed at $2,695,000. Again, the prices for single-family homes continue to move up while condos continue to creep up. Of the single-family properties currently for sale on AMI, the average list price is $3,987,084 and the median list price is $2,895,000, and for condos, the average list price is $779,000 and the median list price is $687,000.
This month Frank & Al’s Best Buy at 106 Beach Ave. AM 3452 sq. ft. 5BR/3.5 Bath home two back from the Gulf was in the Wall Street Journal mansions section! 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, let us know what that is today! There is an exquisite GULF front home coming on the market soon!
Looking at an average sale price of single-family homes in Manatee County through May 2023 was up again .9% above May 2022 at $735,779 and the Median sale price was up 10.7% at $570,000 from May 2022. The current inventory of single-family has jumped up 169.5% at 1531 from 568 in May 2022 and Condos were up to 786 from 234 in May 2022. The Pending sales of SF are up at 772 vs. 593 in May 2022 and condos were up to 318 from 301 in May 2022.
As far as you buyers… buying sooner is still better than later unless you are not going to buy for more than two years but I expect prices will only be going up not down. 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.
Longboat Key current inventory dropped a little from last month to 159 (SF- 56, Con- 85, Dup- 0 & Lot- 18) and is still in the middle of the range it’s been in the last thirty-two months 194, 137, 88, 92, 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 56 single-family homes, the average price is $1,039,000 and the median list price is $1,000,000. For the 85 condos for sale, the average and median list prices respectively are $884,000 & $925,000.
Hope you are all staying safe & come on down to enjoy the Florida sunshine.
Keep those calls and e-mails coming!
We love hearing from you and look forward to seeing you on the island…Alan, Frank & Lynn
Click HERE for FULL NEWSLETTER with detailed charts and facts for Anna Maria Island Real Estate sales.
#AnnaMariaLuxuryRealEstate #HouseHunting #BuyAHomeOnAnIsland #LuxuryRealEstate #AnnaMariaIsland #AnnaMariaRealEstate