Real Estate Sales on Anna Maria Island for April 2017; 43(SF-27, Con-11, Dup-0, Lot-5) were up 10% over April of 2016 at 39(SF-25, Con-10, Dup-1, Lot-3). As of April 30, 2017 Y.T.D. Anna Maria Island property sales were; 131 (Single Family Homes (SF) – 72, Condos (Con) – 44, Multi-Family homes, aka, Duplex (Dup) – 6, & Vacant lots (Lot) –9) up 12% over April 30, 2016 Y.T.D. at 117 (SF-68, Con-32, Dup-10 & Lot-7).
The last 12 months of Real Estate sales for Anna Maria City, Holmes Beach and Bradenton Beach (May 1, 2016 to April 30, 2017) were 375 (SF-216, Con-121, Dup-20, Lot-18) down 2% from the previous 12 months (May 1, 2015 to April 30, 2016) at 381 (SF-216, Con-116, Dup-29 & Lot-20). 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 12 (SF-7, Con-4, Dup-1 & Lot-0) in the previous 12 months (May 1, 2015 to April 30, 2016). Inventory continues to run well below the norm. Inventory is currently at 297 (SF-166, Con-96, Dup -22 & Lot-13). Inventory for the previous eight months were 297, 310, 290, 298, 314, 303, 308, 343. As you can see the inventory continues to run at historic lows while demand seems to be continuing at historic highs which bodes well for continued increase in prices.
Again this month we have two great properties that have fantastic rental income on Frank, Scott & Al’s Great Buy’s, 117 Willow Ave. City of Anna Maria at $1,395,000 and 119 Neptune Ln. Holmes Beach at $1,499,000. 117 Willow does $125,000 in gross annual rental income (an 11 ratio) and 119 Neptune Ln does $130,000 (an 11.5 ratio). The property at 3603 4th Ave, Holmes Beach a 3BR/3bath single family, three houses to the beach was reduced last month to $959,000 is still a great rental and it does $85,000 in gross annual rental income (an 11 ratio). Again the property just off the island at 3304 Palma Sola Blvd. Bradenton a 4,000 square foot, 4 bedroom 3.5 bath on Palma Sola Bay is has a great location for a second home with bay views. Call me for more information on these or other real estate opportunities.
To summarize the Anna Maria Island market for the first four months of 2017 we got off to one of the fastest starts in the last 5 years. Again, sales pended properties are up well above the average. Pended properties (properties under contract) are at 66 (SF-44, Con-14, Dup – 4 & Lot-4). Distressed properties continue to be non-existent with no distressed properties currently for sale on the island.
The current inventory of 148 single family homes the average sale price is $1,238,984 and the median sale price is $1,124,500. The lowest price single family home on the island is currently $387,500 and the highest price $4,250,000. For the 95 condos for sale the average and median prices respectively are $568,653 & $475,000 with the lowest $229,000 and highest $1,999,000.
Longboat Key’s current inventory is 437 (SF- 130, Con- 274, Dup- 1 & Lot- 32) a little under 456 & 469 the last two months and well above 304, 314, 336, 345 and 374 the previous five months. Of the current inventory of 130 single family homes the average sales price is $2,171,733 and the median sale price is $1,272,000. The lowest priced single family home on the island is $287,500 and the highest is $26,500,000. For the 274 condos for sale the average and median prices respectively are $785,894 and $559,500 with the lowest $224,900 and highest $5,600,000. Pended properties on Longboat Key are 68 (SF-15, Con-51, Dup-0 & Lot-2) down from 79 & 86 the last two months and 45, 54, 49, 62 and 86 the previous five months. Distressed properties on Longboat Key are only 5, 2 condo’s and 3 single families.
Keep those calls and e-mails coming! We love hearing from you……Alan, Frank, Lynn & Scott
See http://www.AnnaMariaLuxuryRealEstate.com NEWSLETTER for detailed charts and facts for Anna Maria Island Real Estate for sale.
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