Real Estate Sales on Anna Maria Island for May 2017; 48 (SF-31, Con-13, Dup-1, Lot-3) was up 7% over May of 2016 at 45 (SF-30, Con-13, Dup-2, Lot-0). As of May 31, 2017 Y.T.D. Anna Maria Island property sales were; 179 (Single Family Homes (SF) – 103, Condos (Con) – 57, Multi-Family homes, aka, Duplex (Dup) – 7, & Vacant lots (Lot) –12) up 11% over May 31, 2016 Y.T.D. at 162 (SF-98, Con-45, Dup-12 & Lot-7).
The last 12 months of Florida Real Estate sales for Anna Maria City, Holmes Beach and Bradenton Beach (June 1, 2016 to May 31, 2017) were 377 (SF-217, Con-121, Dup-19, Lot-20) up 2% from the previous 12 months (June 1, 2015 to May 31, 2016) at 369 (SF-209, Con-115, Dup-29 & Lot-16). Of the last 12 months sales only .5% or 2 (SF-1, Con-0, Dup-1 & Lot-0) were distressed properties (bank owned or short sales) compared to 3% or 10 (SF-5, Con-4, Dup-1 & Lot-0) in the previous 12 months (June 1, 2015 to May 31, 2016). Inventory continues to run well below the norm. Inventory is currently at 267 (SF-152, Con-90, Dup -16 & Lot-9). Inventory for the previous nine months were 297, 297, 310, 290, 298, 314, 303, 308, 343. As you can see the inventory continues to become lower and is running at historic lows while demand seems to be continuing at historic highs.
To summarize the Anna Maria Island market for the first five months of 2017 we continue to get off to one of the fastest starts in the last 5 years. Again, pended properties are up well above the average. Pended properties (properties under contract) are at 57 (SF-32, Con-17, Dup – 5 & Lot-3). Distressed properties continue to be non-existent with no distressed properties currently for sale on the island.
The current inventory on Anna Maria Island of 152 single family homes the average sale price is $1,240,668 and the median sale price is $1,099,000. The lowest price single family home on the island is currently $385,000 and the highest price $4,995,000. For the 90 condos for sale the average and median prices respectively are $553,849 & $475,000 with the lowest $199,000 and highest $1,999,000.
Longboat Key’s current inventory is 393 (SF- 118, Con- 245, Dup- 1 & Lot- 29) a little under 437 & 456 the last two months and above 469,304, 314, 336, 345 and 374 five out of the six previous months. Of the current inventory of 118 single family homes the average sales price is $2,205,128 and the median sale price is $1,199,000. The lowest priced single family home on the Longboat Key is $287,500 and the highest is $26,500,000. For the 245 condos for sale the average and median prices respectively are $758,949 and $559,000 with the lowest $224,900 and highest $5,999,000. Pended properties on Longboat Key are 66 (SF-17, Con-46, Dup-0 & Lot-3) down from 68, 79 & 86 the last three months and about average of 45, 54, 49, 62 and 86 the previous five months. Distressed properties on Longboat Key are only 3, one condo and two single families.
Keep those calls and e-mails coming! We love hearing from you……Alan, Frank, Lynn & Scott
FRANK, SCOTT & AL’S GREAT BUYS
Great Entry Level Island Property:
- 1603 Gulf Dr. #2 Tradewinds Condo ($239,000) This stylishly decorated 1 bedroom/1 bath condo with tropical furnishings has a full kitchen a queen sleeper sofa in the living room and the Gulf of Mexico 100 yards away. Great entry level unit and rental (did $29,700 in gross annual rental last year).
Great Location & Potential Rental Income:
1. 4807 2nd Ave. ($1,174,000) This 4 bedroom/3.5 bath pool home is approved in Holmes Beach for an occupancy of 8. West of Gulf Drive and 2 blocks to the beach. This home is in a very quiet area of Holmes Beach. Two master bedroom suites. Turnkey furnished, large pool and covered bar. A great rental (did $90K in gross annual vacation rental for two years).
2. 119 Neptune Ln ($1,499,000) This 5 bedroom/5.5 bath, 3,109 square foot Mediterranean style home and features the look and feel of a beach cottage with a hint of European decorative finishes and is steps to the beach. Large heated pool surrounded by lush tropical landscaping. Professionally turnkey furnished with an open floor plan is a great rental (does $130K in gross annual rental income).
3. 3603 4th Ave. ($959,000) This elevated 3 bedroom, 3 bath 2376 square feet home three house’s to the beach with views of the gulf and Bay from the roof top deck. Presented turnkey furnished with elevator is a great rental property.
Great Canal Home:
- Canal Front Home (541 67th St) – $895,000 One house in from Bimini Bay this 2,804 square foot, 5 bedroom/4.5 bath, pool home is an ideal permanent or second home.
Click on the property address to bring up the information & virtual tour or
Call me for more information on these great properties…Alan (941)232-2216
THE GALLETTO TEAM of Island Real Estate, 6101 Marina Drive, Holmes Beach FL 34217.
For detailed charts see the entire newsletter on our website; http://www.AnnaMariaLuxuryRealEstate.com
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