Charmingly renovated. 1 bed 1 bath, ELEVATED
Close to beaches. Easy on off Island.
It’s for sure that we will close 2020 with sales on Anna Maria Island higher than any year that we have been recording sales. Sales for the month of November continue to be in the highest range we have seen since 2005. I think sales for 2020 will end the year in the high 500 range, the highest yearly sales ever recorded. Also, the Inventory continues to remain the lowest I’ve seen in the last 25 years so buyers continue to buy. Sales for November 2020 for Anna Maria City, Holmes Beach and Bradenton Beach were 59 (SF-29, Con-25, Dup-3 & Lot-2) up 179% above November 2019 at 33 (SF-20, Con-10, Dup-3 & Lot-0) after being up 179% last month. Sales for November 2020 Y-T-D were 510 (SF-287, Con-170, Dup-27, Lot-26) up 50% above November 2019 Y-T-D at 341 (SF-213, Con-101, Dup-20, Lot-7). Sales for the last 12 months were 544 (SF-311, Con-176, Dup-31 & Lot-26) up 52% above the previous 12 months at 359 (SF-225, Con-107, Dup-20 & lot-7). The inventory continues to be the lowest it’s been in 25 years and continues to be below 300 for twenty-seven of the last thirty-five months and fourteen of the last seventeen months. Inventory is currently at only 145 (SF-85, Con-46, Dup-9 & Lot-5). Inventory for the previous thirty-five months were 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. Single family sales for Manatee County November Y-T-D were up 45% above 2019 September Y-T-D and the current inventory is down 50% from 2019 at this time.
As I said last month for those of you thinking of selling within the next year or so now would be a good time to put your property on the market while it’s a sellers’ market and as far as you buyers…buying sooner is better than later. Call or email me for an opinion of value today (941) 232-2216 or alan@alangalletto.com.
Since last month’s newsletter there again has been a lot of activity. 214 66th St. HB, closed for $475,000, and the property at 747 Jacaranda AM closed for $1,500,000. The property at 2310 Gulf Dr. #104 BB just went under contract and as did 403 20th Place BB as well, two blocks to the beach. Still available is the 180 degree Bimini Bayfront view, the ideal boater’s home, check out 543 67th St. HB. Take the current home to the next level, the existing 2,909 sq. ft. 4bedroom/4bath Bimini Bayfront is the ultimate in boating paradise, deep water minutes to Tampa Bay or the intercostal or tear down and build new. If you are looking for a great rental 304 65th St. HB recently became available. A 5BR/3.5 Bath a short walk to the beach with a resort style pool and spa with large outdoor bar (see Frank & Al’s great buy’s). Call us to see the property that meets your needs. If you want to be directly on Tampa Bay then look at the home at 705 Key Royale Dr. HB a 3-5 bedroom/ 3bath 1993 sq. ft. waterfront home with all the amazing views you would expect. If you want to see this or any property just call Lynn or me. 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 for the first eleven months of 2020, sales were 50% above the first eleven months of 2019. The inventory continues to drop and be the lowest I’ve seen it in 25 years, at 145 down from 155, 162 & 175 the last three months. Pended properties (properties under contract) continues to stay strong at 86 (SF-39, Con-37, Dup-5 & Lot-5) close to last month at 90 and in the middle of the previous five months at 94, 112, 92, 71 & 42. Distressed properties continue to be non-existent as they have been for the last couple of years with none in the current inventory and only two in the last twenty-six months.
The distribution of the single-family properties currently for sale on AMI continues to skew to the high end with only 6% or (5) <$750K, 12% or (10) between $750K and $1 million, 37% or (31) between $1 million and $2 million and 45% or (37) over $2 million. The distribution for Condos currently for sale on AMI is 29% or (14) <$500K, 31% or (15) $500K-$750K, 23% or (11) $750K – $1 million and 17% or (8) >$1 million. You can see that 94% of the single-family prices are over $750K and 82% are over $1 million while 29% of the condos were below $500K. As you can see again single family prices are going up much faster than condo prices. Of the current inventory of 85 “single family homes” the lowest priced property is $424,900 (a 3br/3bath sunbow bay townhouse (should be listed as a condo) at 3803 East Bay Drive #6 HB and the highest is again $6,495,000 a 1/2 acre gulf front tear down built in 1960 at 5102 5th Ave. HB Of the current inventory of 46 condos the lowest priced is again this month a 1br/1bath Tortuga Inn condo at $214,900 and the highest $2,199,000 a 3br/3bath direct gulf front Vista Grande unit. BTW; our rental department estimates this unit could gross about $125k. The prices for single family homes continue to move up rapidly while condos remain almost flat. Of the single-family properties currently for sale on AMI, the average list price is $2,155,522 and the median list price is $1,799,900 and for condos, the average list price is $753,219 and the median list price is $592,000.
Longboat Key current inventory has for the sixth month dropped down again significantly to 156 (SF- 50, Con- 89, Dup- 1 & Lot- 16) the lowest it’s been in the last seventeen months 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 50 single family homes, the average list price is $2,553,015 and the median list price is $1,547,000. For the 89 condos for sale, the average and median list prices respectively are $1,183,031 & $755,000.
Hope you are enjoying the fall weather. Keep those calls and e-mails coming.
Please, continue to stay safe!
We love hearing from you and look forward to seeing you on the island……Alan, Frank & Lynn
Click HERE 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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