Real estate sales on Anna Maria Island continue to outpace 2020 which was a historically high sales year. Sales for the month of March 2021 were over double the sales for March 2020 and the Inventory at 72 continues to be lower than the pended properties at 96. Sales for March 2021 for Anna Maria City, Holmes Beach and Bradenton Beach were 76 (SF-37, Con-31, Dup-7 & Lot-1) were 223% higher than March 2020 at 34 (SF-14, Con-14, Dup-2 & Lot-4). The inventory continues to be the lowest it’s been in 30 years and continues to be below 300 for 31 of the last 39 months and 18 of the last 21 months. Inventory is currently at only 72 (SF-44, Con-13, Dup-9 & Lot-6). Inventory for the previous 39 months were 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, and again has hit a new low for this market. Looking at the whole county single family sales for Manatee County February 28, 2021 Y-T-D were up again 12.8% above February 28, 2020 Y-T-D and the current inventory is down 70.7% from 2020 at this time. The average sale price of a single-family home in Manatee County is $553,312 up 35.6% over a year ago. Again, for the fourth month….I CAN NOT say this strongly enough; for those of you thinking of selling within the next year or two now would be a good time to put your property on the market while it still is a sellers’ market. As I said last month, historically this market has come about every 7-10 years. As far as you buyers…buying sooner is better than later. Call (941) 232-2216 or email me at email@example.com for an opinion of value or starting a search to find a property today.
Since last month’s newsletter there continues to be a lot of activity. 517 Key Royale Dr. HB closed for $1,933,000. The following properties went under contract since last month’s newsletter: 210 75th St HB at $2,495,000; and 6700 Gulf Dr, HB listed at $1,799,000. If you are looking for a great rental there again is not much to choose from. Of the 44 single family properties currently for sale there still are only 4 single family properties under $1.1 million and only 16 between 1 Million and 2 million. If you want to be directly on the Gulf than check out this New Four unit direct gulf front condo complex The units are 4BR/3.5 Bath between 2495-2635 sq. ft. with amazing views of the Gulf from each one. If you want to see these or any other properties just call Lynn or I. We can also put you on your own automatic search for properties with your specific criteria, let us know what that is- today! To summarize the Anna Maria Island Real Estate Market beginning 2021, sales for March 2021 were 223% higher than March 2021. The inventory continues to drop and continues to be the lowest I’ve seen it in 30 years, at 72 (SF-44, Con-13, Dup-9, Lot-6) down from 76, 100, 135, 145, 155, 162 & 175 the last seven months. Pended properties (properties under contract) continue to remain strong at 95 (SF-53, Con-35, Dup-4 & Lot-3) above all but two of the previous ten months at 95, 101, 87, 86, 90, 94, 112, 92, 71 & 42. For the last two months in a row there are more pended properties then there is inventory. 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-two months. The distribution of the single-family properties currently for sale on AMI continues to skew to the high end with only 2% or (1) <$750K, 7% or (3) between $750K and $1 million, 36% or (16) between $1 million and $2 million and 28% or (13) between 2-3 Million and 27% or (12) over $3 million. The distribution for Condos currently for sale on AMI is 14% or (2) <$500K, 28% or (4) $500K-$750K, 22% or (3) $750K – $1 million and 36% or (5) >$1 million. You can see that 99% of the single-family prices are over $750K and 91% are over $1 million while 42% of the condos were below $750K and only 36% over $1 million. As you can see again single family prices continue to go up much faster than condo prices. Of the current inventory of 44 “single family homes” the lowest priced property again is $725,000 (a 2br/1bath) home at 203 Haverkos Ct. HB and the highest are two $6,000,000 Gulf front properties 104 75th St. South and North, HB. Of the current inventory of 13 condos the lowest priced unit again this month is a 1br/1bath condo at 1325 Gulf Dr. #220 BB at Tortuga listed at $349,000 and the highest $1,250,000 a 2br/2 bath direct gulf front Island Paradise, 3708 Gulf Dr. Unit #4, HB. 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 $2,538,467 and the median list price is $2,375,000 and for condos, the average list price is $790,154 and the median list price is $750,000.
Longboat Key current inventory has for the ninth month in a row dropped down again significantly to 59 (SF- 17, Con- 35, Dup- 2 & Lot- 5) the lowest it’s been in the last twenty-one months 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 17 single family homes, the average price is $2,687,176 and the median list price is $2,400,000. For the 35 condos for sale, the average and median list prices respectively are $1,270,528 & $765,000.
Hope you are all staying safe& enjoying the spring weather. Keep those calls and e-mails coming? We love hearing from you and look forward to seeing you on the island…Alan, Frank & Lynn
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