Anna Maria Island real estate sales for 2017 was higher than 2016. December 31, 2017 Y-T-D AMI sales were 401(SF-226, Con-132, Dup-25, & Lot-18) up 11% from December 31, 2016 Y-T-D at 361 (SF-212, Con-109, Dup-24 & Lot-16).
Sales in December 2017 for Anna Maria City, Holmes Beach and Bradenton Beach were 27 (SF-17, Con-7, Dup-2 & Lot-1) down 4% below December 2016 at 28 (SF-15, Con-12, Dup-1 & Lot-0). Of the 2017 sales only 1% or 6 (SF-4, Con-1, Dup-1 & Lot-0) were distressed properties (bank owned or short sales) compared to .5% or 2 (SF-2, Con-0, Dup-0 & Lot-0) for 2016. As you can see by the numbers since 2010, which was where the market bottomed from the peak of 2005, sales have been strong in either the high 300’s or low 400’s. The inventory has been very low over the last 6-8 months in the mid 200’s which is the lowest I’ve seen it in the 30 years I have been on the island. The average inventory over most of those 30 years has been 400-450 properties for sale at any one time. Inventory is currently at 254 (SF-139, Con-80, Dup-21 & Lot-14). Inventory for the previous twelve months were 249, 231, 214, 223, 240, 254, 267, 297, 297, 310, 290, 298. Low inventory while still showing extremely strong sales means it’s a sellers’ market.
There is something for everybody on Frank, Scott & Al’s Great Buy’s list this month. If you’re looking for a starter property very close to the beach, then 1603 Gulf Dr. #2 is for you. In the front of the Trade Winds Resort 100 yards to the beach, this cute 1 bedroom 1 bath is one of the least expensive properties you can buy on the island. If you’re looking for great rental income 100 4th St. S. is the one.
This 5-unit beach cottage does $155,000 in gross annual rental income with numerous return guests and many 5-star reviews. If you’re looking for an elevated pool home that is also a very good rental, then 3603 4th Ave is the one for you. This 3 bedroom/3 bath elevated pool home has 2,376 sq. ft. of beach living with views of the gulf, Tampa Bay and the skyway bridge from the rooftop deck. See these and more properties below. Call me for more information on these or other real estate opportunities. We can put you on your own automatic search for properties with your specific criteria.
To summarize the Anna Maria Island real estate market for 2017, we ended up 11% over 2016 and one of the strongest sales years in the last 13 years as you can see from the charts below. Pended properties continue to be strong and still well above the average. Pended properties (properties under contract) are at 43 (SF-30, Con-11, Dup-2 & Lot-0). Distressed properties continue to be non-existent with again this month no distressed properties for sale on the island and none in the last five months. The distribution of the single-family properties currently for sale on AMI has dramatically skewed upward with only 6% <$500K, 19% 500K-750K, 28% between $750K and $1 million and 47% over $1 million. The distribution for Condos currently for sale hasn’t changed much from last year and was 60% <$500K, 27% $500K-$750K, 4% $750K – $1 million and 9% >$1 million. You can see that 75% of the single family prices are over $750K while 60% of the condos were below $500K. The lower prices on condos are due to the fact that most of the condos on the island were built in the 70’s and 80’s and are 2 bedroom/2 bath. Of the current inventory of 139 single family homes, the lowest price is $387,500 and the highest is $4,595,000. Of the current inventory of 80 condos, the lowest price is $199,000 and the highest $1,699,000. Of the single family properties sold in 2017, the average sale was $1,058,405 and the median sale $805,000 and for condos, the average sale was $439,773 and median sale $363,500. In 2016 the average sale for single family homes was $940,435 and the median sale was $767,500 while the average condo sale was $383,326 and median sale was $334,000. Over the last year, average and median single-family sales were up 12% and 5% respectively While average and median condo prices were up 15% & 9% respectively.
Longboat Key current inventory is 394 (SF- 106, Con- 248, Dup- 2 & Lot- 37) down from 437 last month and up from the four previous months at 304, 314, 336 and 345. Of the current inventory of 106 single family homes, the average sales price is $2,292,478 and the median sale price is $1,133,500. The lowest priced single family home on Longboat Key is $318,000 and the highest is $26,500,000. For the 248 condos for sale the average and median prices respectively are $769,823 & $544,500 with the lowest $214,900 and highest $6,100,000.
Keep those calls and e-mails coming! We love hearing from you……Alan, Scott, Frank & Lynn
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