First things first, after Helene and Milton I have decided to slow down and have asked Larry Chatt, Broker/Owner of Island Real Estate to help continue our exceptional level of service to our all our past real estate clients. I am still involved but taking a more supportive role in real estate. Larry will assist Lynn in many facets of your real estate inquiries and will occasionally pull his wife Jennifer into the fold to help with specific real estate inquiries. Larry will begin to be the narrator to our newsletter and please call him in the future for any real estate inquires or questions. Of course myself, Larry and Frank continue to speak, celebrate birthdays and milestones so we are always available as a resource to Larry and Lynn. Take it away Larry and Lynn…
Inventory for sale since our windy season has almost tripled. Make sense after our island has faced some severe adversity due to the flooding of Helene and then the wind of Milton. In Q3, 2024 our absorption rate was at a low of 4 months of inventory on hand and at the end of Q1 2025 we have spiked to 12 months of inventory for sale on Anna Maria Island.
Q1/2024 vs Q1/2025 comparisons: Demand is similar, (79) Q1/2024 versus (82) Q1/2025 AMI property sold. However, properties for sale have increased 21% year over year. (277) Q1/2024 versus (335) for Q1/2025.
Q1/2025 sold data: The average sale pace for Q1 2025 was 27 per month. 21% of the sold properties in Q1 2025 were above $2M. 11 condos were sold in all of Q1 2025 which represents 13% of the total.
Last month Comparisons: In the month of March we saw 19 properties go pending. 26% of those had a list price of more than $2M. 68% of March pending were single family homes and 21% were condos. There were 35 properties sold in March 2025. 26% of the properties were above $2M and 74% of the properties were single family homes.
Single Family for sale Data: The distribution of single-family properties for sale is 11%, $1M or less, 30% is $1M – $2M, 22% is $2M – $3M, 20% from $3M to $5M and above $5M is 17% of the AMI inventory for sale. A big change since the hurricane is the amount of $1M and less single families for sale. Typically this is 1-2%, however due to hurricane damage we have a high distribution of properties for sale at land value prices.
Condo for Sale Stats: The distribution of condos for sale are 33% under $0.5M, 53% from $0.5M to $1M, and 14% above $1M for sale.
Summary: It’s a buyer market on Anna Maria Island. If you have been considering real estate on Anna Maria Island, depending on your demand specifics now may be the time. If you are looking to pick up a property requiring post hurricane renovations at or below land value then NOW is the time to watch the market. Most owners that are prepared to walk away from their Anna Maria Island property have already decided to hit the market with mold ridden drywall removed and have left the home as a blank slate for the next owner. If you are not looking for that much work, we suggest starting to watch the market for the next 3-6 months for pre hurricane 2025 buys. Inventory is likely to increase and I forecast in 9 months demand will increase making it more difficult to pick up a below market AMI property.
Best Buys – 216 Archer Way, 3 BR which is ground level, gutted at $910,000. The second opportunity is 210 Willow for $1,350,000. However, there are a lot of great ground level deals at the cost of land.
If you are considering buying or selling, give Larry a call, (941) 224-4072 or email him at Larry@IslandReal.com. We would love the opportunity to see if we can help.