Real estate sales on Anna Maria Island again continue to outpace 2020 but is starting to slow down because we are running out of inventory. Sales for the month of June 2021 were 54% over June 2020. The Inventory has not significantly changed and is currently at 88. Sales for June 2021 for Anna Maria City, Holmes Beach, and Bradenton Beach were 57 (SF-34, Con-19, Dup-3 & Lot-1) compared to June 2020 at 37 (SF-22, Con-10, Dup-1 & Lot-4). The inventory continues to be the lowest it’s been in 30 years and continues to be well below 300 for 35 of the last 43 months and 22 of the last 25 months. Inventory has popped up a little and is currently at only 88 (SF-54, Con-18, Dup-14 & Lot-2). Inventory for the previous 43 months were 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. I think we’re close to the point where we are going to see the sales start to slow down and the inventory starts to build. Looking at Manatee County the average sale price of single-family homes in Manatee County for May 2021 was up again 19.4% above May 2020 to $261,466 and the current inventory is down 78.5% at 207 from 961 in May 2020. The average sale price of a single-family home in Manatee County is $261,466 and the median sales price is 243,595 and the Pending sales are at 299 vs 252 last year. Again.…. I CAN NOT say this strongly enough; for those of you thinking of selling within the next year or two now would be the time to put your property on the market before the market slows down. As I mentioned last month, I took my own advice and put one of my properties, a duplex, up for sale. As far as you buyers…buying sooner is better than later unless you aren’t going to buy for two years or so. Call (941) 232-2216 or email me at firstname.lastname@example.org for an opinion of the value of the property you want to sell, or for starting a search to find a property to buy today.
Since last month’s newsletter, there was not much activity. The only property under contract from last month’s newsletter: 3407 29th St Bradenton listed at $265,000 sold for $265,000. Of the 54 single-family properties currently for sale, there are only 5 single-family properties under $1 million and only 22 between 1 Million and 2 million. We have left out Frank & Al’s best buys again this month since there is so little inventory. 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, let us know what that is- today!
To summarize the Anna Maria Island Real Estate Market sales for June 2021 were 54% higher than June 2020. The inventory continues to drop and continues to be among the lowest I’ve seen it in 30 years, at again only 88 (SF-54, Con-18, Dup-14, Lot-2) slightly up from last month but still lower than 6 of the last 10 months at 82, 72, 72, 76, 100, 135, 145, 155, 162 & 175. Pended properties (properties under contract) continue to remain strong at 63 (SF-40, Con-18, Dup-4 & Lot-1) dropping slightly from the previous twelve months at 70, 85, 94, 95, 101, 87, 86, 90, 94, 112, 92, 71. 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-five months. The distribution of the 54 single-family properties currently for sale on AMI continues to skew to the high end with 5% (3) <$750K, 4% or (2) between $750K and $1 million, 43% or (22) between $1 million and $2 million and 23% or (12) between 2-3 Million and 25% or (13) over $3 million. The highest-priced single-family home currently is $8,900,000 a 1950’s house on a double gulf front lot with 174 ft. of beachfront. The lowest-priced is a seaside garden 1 BR/1 bath, 688 sq. ft. Villa. The distribution of the 18 Condos currently for sale on AMI is 19% or (3) <$500K, 12% or (2) $500K-$750K, 38% or (6) $750K – $1 million and 31% or (5) >$1 million. You can see that 95% of the single-family prices are over $750K and 91% are over $1 million while 31% of the condos were below $750K and only 31% over $1 million. As I mentioned above of the current inventory of 54 single-family homes the lowest priced property at 431 62nd St HB listed at $489,000 a 1br/1bath Villa in Seaside Gardens and the highest is an $8,900,000 double lot gulf Front property at 5102 5th Ave. HB. Of the current inventory of 18 condos the lowest-priced unit, this month is a 1br/1bath Westbay Cove condo at 600 Manatee Ave. #214 listed at $425,000 and the highest a 3br/3 bath condo at Carissa Villas, 2 blocks to the beach at 201 57th St unit A 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 $2,590,152 and the median list price is $1,992,500 and for condos, the average list price is $857,312 and the median list price is $830,000.
Longboat Key current inventory has popped up again to 62 (SF- 21, Con- 38, Dup- 1 & Lot- 2) still the lowest it’s been in the last twenty-one months 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 21 single family homes, the average price is $3,643,814 and the median list price is $3,445,000. For the 38 condos for sale, the average and median list prices respectively are $1,280,862 & $899,000.
Hope you are all staying safe & enjoying the summer 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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