Custom home in Banyan Tree Estates on Anna Maria Island is now listed for sale by Galletto Team. Two houses to the white sand beaches.
Real estate sales on Anna Maria Island continue to slow down, again due mostly to low inventory. Sales for the month of May 2022 at 49 were only 16% lower than May 2021 at 57. The Inventory continues to slowly build but is still nowhere near the average inventory before Covid. Sales for May 2022 for Anna Maria City, Holmes Beach, and Bradenton Beach were 49 (SF-25, Con-20, Dup-1 & Lot-3) compared to May 2021 at 57 (SF-25, Con-25, Dup-4 & Lot-3). The inventory continues to be the lowest it’s been in 30 years and continues to be well below 300 for 38 of the last 46 months. Inventory is currently at only 145 (SF-106, Con-29, Dup-7 & Lot-3). Inventory for the previous 46 months were 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, the inventory has slowly started to build up.
Looking at the average sale price of single-family homes in Manatee County through May 2022 was up again 26.1% above May 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 May 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 of 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’s newsletter, there are currently 35 properties that went pended SF-20, Condo-15, multi-family- 0 and the lots- 0. The single families were listed between $999,500 and $5,495,000; the condos between $259,000 and $1,985,000; The Multi families between $1,200,000 and $2,295,000. There were 0 lots pended. Of the 94 single-family properties currently for sale, there is only 1 single-family property under $1 million ($999,500) and only 17 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 May 2022 were 16% lower than in May 2021. The inventory has begun to creep up but is still the lowest I’ve seen it in 30 years, at again only 145 (SF-106, Con-29, Dup-7, Lot-3) 64% up from last month but still lower than 4 of the last 13 months at 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 35 (SF-20, Con-15, Dup-0 & Lot-0) lower than the previous fourteen months at 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-eight months. The distribution of the 106 single-family properties currently for sale on AMI continues to skew to the high end with 0% (0) <$750K, 3% or (4) between $750K and $1 million, 15% or (16) between $1 million and $2 million and 28% or (30) between 2-3 Million and 57% or (60) over $3 million. The highest-priced single-family home currently is still $28,500,000 a 1940, remodeled 3,892 10BR.7.5 bath beach house directly on a gulf front lot. The lowest-priced is a half-duplex, 2 BR/1 bath, 700 sq. ft. home in Holmes Beach. The distribution of the 27 Condos currently for sale on AMI is 8% or (2) <$500K, 37% or (10) $500K-$750K, 27% or (7) $750K – $1 million and 27% or (7) >$1 million. You can see that 97% of the single-family prices are over $1 million while 73% of the condos were below $1million and only 27% are over $1 million. As I mentioned above of the current inventory of 106 single-family homes the lowest priced property at 3007 Ave E unit A, HB listed at $949,000 a 2br/1bath, 700 sq. ft. half-duplex and the highest is a $28,500,000 Gulf Front property at 102 48th St, HB. Of the current inventory of 29 condos the lowest-priced unit, this month is a 1br/1.5 bath Condo at 3014 Ave C. #4 HB listed at $259,000 and the highest is again a 4br/4 bath condo at L’Plage, 6430 Gulf Dr. #1, HB listed at $2,998,000. 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 $3,994,525 and the median list price is $2,995,000 and for condos, the average list price is $985,481 and the median list price is $750,000.
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 at 76 (SF- 36, Con- 33, Dup- 0 & Lot- 7) but still in the low end of the range it’s been in the last twenty-seven months 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 36 single family homes, the average price is $3,778,883 and the median list price is $2,645,000. For the 37 condos for sale, the average and median list prices respectively are $1,948,100 & $1,175,000.
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 for FULL NEWSLETTER and detailed charts and facts for Anna Maria Island Real Estate for sale.
941-232-2216 ALAN@AlanGalletto.com
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