Real Estate Sales on Anna Maria Island for 2022 is a little slower compared to 2021 but that’s because we are running out of inventory. Sales for the month of January 2022 at 45 is down 25% over January 2021 at 56. The Inventory has continued to drop and is currently at 61 (SF-40, Con-12, Dup-6 & Lots-3). Sales for January 2022 for Anna Maria City, Holmes Beach, and Bradenton Beach were 45 (SF-25, Con-14, Dup-4 & Lot-2) compared to January 2021 at 56 (SF-28, Con-20, Dup-7 & Lot-1). The inventory continues to be at historic lows and continues to be well below 100 for 10 of the last 10 months. Inventory is currently at only 61 (SF-40, Con-12, Dup-6 & Lot-3) and pending properties are currently at 80 (SF-42, Con-32, Dup-4 & Lots-2). We’re at the point where we are seeing the sales starting to slow down but the inventory has not started to build yet because of continued high demand. The average sale price of single-family homes on Anna Maria Island for January 2022 was up again 28% above January 2021 to $2,192,988 from $1,713,896 and the current inventory on the island is down 40% at 61 from 88 in January 2021. Looking at Manatee County the average sale price of single-family homes in Manatee County is $496,984 up 23.6% over 2021 and the median sales price is $357,900 up 28.5% over a year ago and the Pending sales are at 505 vs 578 last year down 12.6%. Again.…. I CAN NOT say this strongly enough; as I said previously for those of you thinking of selling within the next year now would be the time to put your property on the market before the market slows down. As I mentioned in my previous newsletter, I took my own advice and put one of my properties, a duplex, up for sale for $1,199,900 and it sold for cash at the list price. As far as you buyers…buying sooner is better than later unless you aren’t going to buy for two years or more. 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 personalized search for you to find a property to buy today.
Since the last Newsletter, and since the inventory has been so low, the sales activity has also been low. Of the 40 single-family properties currently for sale on the island, the lowest priced single-family is $1,225,000 and only 5 are below $2,275,000. Of the 12 condos currently for sale on the island, the lowest priced is $525,000 and the highest priced is $3,195,000. We have left out Frank & Al’s best buys again this month since there is so little inventory but the best buy would be the highest-priced property you can afford. 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 see 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 January 2022 were down 54% from January 2021. The inventory continues to drop and continues to be among the lowest I’ve seen it in 30 years, at again only 61 (SF-40, Con-12, Dup-6, Lot-3) and the lowest in the last 10 months. Pended properties (properties under contract) continue to remain about the same at 61 (SF-40, Con-12, Dup-6 & Lot-3) as the previous five months. 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 40 months. The distribution of the 40 single-family properties currently for sale on AMI continues to skew even higher to the high end with 0% (0) <$750K, 0% or (0) between $750K and $1 million, 12.5% or (5) between $1 million and $2 million and 17.5% or (7) between 2-3 Million and 70% or (28) over $3 million. The highest-priced single-family home currently is $12,875,000 a 1950’s 4 bedroom/3.5 bath direct gulf-front house on an 11,600 Sq. Ft. lot. The lowest-priced is a 2 BR/1.5 bath, 988 sq. ft. home, listed at $945,000 The distribution of the 12 Condos currently for sale on AMI is 8% or (1) <$750K, 58% or (7) $750K – $1 million and 34% or (4) >$1 million. You can see that 87.5% of the single-family home prices are over $2 million while 66% of the condos were below $1 million. Of the current inventory of 12 condos the lowest-priced unit, this month is a 2br/2bath Shell Point condo at 6300 Flotilla #100 HB listed at $525,000 and the highest a 4br/4 bath condo at L’Plage a direct gulf front 6430 Gulf Dr. #1, HB listed at $3,195,000. 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 is down again to 40 (SF- 19, Con- 19, Dup- 0 & Lot- 2) the lowest it’s been in the last twenty-six months and significantly lower than the previous thirteen months. Of the current inventory of 19 single-family homes, the average price is $3,584,053 and the median list price is $3,195,000. For the 19 condos for sale, the average and median list prices respectively are $2,197,000 & $1,390,000.
Hope you are all staying safe & enjoying the change of seasons.
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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