Anna Maria Island Real Estate Sales continue very strong through September 2020. Sales for the month of September continue to be this year in the highest range we have seen since the 1990s. Also, the Inventory continues to be again the lowest I’ve seen in the last 25 years so the sellers’ market continues. Sales for September 2020 for Anna Maria City, Holmes Beach and Bradenton Beach were 76 (SF-44, Con-24, Dup-3 & Lot-5) up 345% above August 2019 at 22 (SF-11, Con-10, Dup-1 & Lot-0). Sales for September 30, 2020 Y-T-D were 387 (SF-219, Con-125, Dup-21, Lot-22) up 35% above September 30, 2019 Y-T-D at 286 (SF-180, Con-85, Dup-15, Lot-6). Sales for the last 12 months were 476 (SF-276, Con-147, Dup-30 & Lot-23) up 37% above the previous 12 months at 348 (SF-220, Con-107, Dup-15 & lot-6). The inventory at 162 continues to be the lowest it’s been in 25 years and continues to be below 300 for twenty-five of the last thirty-three months and thirteen of the last fifteen months. Inventory is currently at only 162 (SF-87, Con-57, Dup-10 & Lot-8). Inventory for the previous thirty-three months were 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 September Y-T-D were up 37% above 2019 September Y-T-D and the current inventory is down 46% from 2019 at this time.
As I said Anna Maria Island Real Estate last month for those of you thinking of selling within the next year or so, as you can see from the numbers, now would be a good time to put your property on the Anna Maria Island Real Estate market while it’s a sellers’ market. Call or email me for an opinion of value today (941) 232-2216 or firstname.lastname@example.org.
Since last month’s newsletter there again has been a lot of activity. 319 64th St. HB, closed for $750,000, and the property at 6301 Holmes Blvd. HB closed for $895,000, and 405 20th Place, BB closed for $880,000. 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 776 N Shore, AM recently became available. A five-minute walk to the beach across the street with private pool and gulf views it did $118K in gross annual rental income in 2019 (see Frank & Al’s great buy’s). Call us to see the property that meets your needs. If you want to be directly on the Gulf then look at the condo at 5622 Gulf Dr. HB a 3 bedroom/ 3bath 1993 sq. ft. condo built in 2007 with all the amenities you would expect. The rental department estimates this unit could gross about $125k. If you want to see this or any unit 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 nine months of 2020, sales were 35% above the first nine months of 2019. The inventory continues to drop and be the lowest I’ve seen it in 25 years, at 162 down from 175 last month. Pended properties (properties under contract) continue to stay strong at 94 (SF-47, Con-39, Dup-4 & Lot-4) close to last month at 112 and above the previous three months at 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-four months. The distribution of the single-family properties currently for sale on AMI continues to skew higher with only 4% or (3) <$750K, 14% or (12) between $750K and $1 million, 36% or (31) between $1 million and $2 million and 46% or (39) over $2 million. The distribution for Condos currently for sale on AMI is 38% or (22) <$500K, 29% or (17) $500K-$750K, 16% or (9) $750K – $1 million and 17% or (10) >$1 million. You can see that 96% of the single-family prices are over $750K and 82% are over $1 million while 38% 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 87 single-family homes the lowest priced property is $525,000 (a 1br/1bath half-duplex at 205 Peacock lane) and the highest is again $6,800,000 a 3/4 acre gulf front complex built in the 1940s but totally remodeled at 103 79th St. Of the current inventory of 58 condos the lowest priced is again this month a 1br/1bath Trade Winds condo at $219,000 and the highest $2,295,000 again the 3br/3.5bath direct gulf front Palm Gables unit. The prices for single-family homes continue to move up while condos remain almost flat. Of the single-family properties currently for sale on AMI, the average list price is $2,172,068 and the median list price is $1,799,900 and for condos, the average list price is $718,475 and the median list price is $569,000.
Longboat Key current inventory has for the fifth month dropped down again significantly to 178 (SF- 66, Con- 110, Dup- 2 & Lot- 21) the lowest it’s been in the last fifteen months 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 59 single-family homes, the average list price is $2,717,409 and the median list price is $1,595,000. For the 106 condos for sale, the average and median list prices respectively are $1,045,164 & $627,000.
Hope you’re enjoying the Fall weather and 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
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