Anna Maria Real Estate for sale; Sales on Anna Maria Island two months into the third quarter of 2018 show Y-T-D sales again up 9% at 319 (SF-186, Con-103, Dup-21 & Lot-9) compared to the same point in 2017 with Y-T-D sales of 293 (SF-168, Con-94, Dup-16 & Lot-15). Sales on Anna Maria Island for August 2018 were up 40% over 2017. For August 2018 AMI sales were 42 (SF-22, Con-13, Dup-7, & Lot-0) compared to August 2017 at 30 (SF-16, Con-12, Dup-1 & Lot-1).
Sales for the last 12 months (September 1, 2017 to August 31, 2018) for Anna Maria City, Holmes Beach and Bradenton Beach were 429 (SF-243, Con-144, Dup-30 & Lot-12) up 7% over the previous 12 months (September 1, 2016 to August 31, 2017 at 400 (SF-228, Con-132, Dup-22 & Lot-18). Of the last 12 months sales (September 1, 2017 to August 31, 2018) only .9% or 4 (SF-2, Con-1, Dup-1 & Lot-0) were distressed properties (bank owned or short sales) compared to 1% or 5 (SF-3, Con-1, Dup-1 & Lot-0) for the previous 12 months (September 1, 2016 to August 31, 2017). Inventory has dropped down below 300 this month again for the fourth month in a row after popping up just over 300 the previous three months. Inventory is currently at 244 (SF-148, Con-65, Dup-16 & Lot-15). Inventory for the previous sixteen months was at 266, 289, 295, 308, 313, 308, 297, 254, 249, 231, 214, 223, 240, 254, 267, & 297.
To summarize Anna Maria Real Estate for sale for the first eight months of 2018 it’s continuing with very strong sales Y-T-D continuing up 9% over 2017 which as I mentioned again in last month’s newsletter, was an exceptionally strong sales year at 401 properties sold and historically low inventory which we have experienced since 2010. Thirteen of the last sixteen months the inventory has been below 300. Attesting to the strong market on AMI, I have again left the article that I put in May’s newsletter from a personal finance site (GOBANKINGRATES- see attached article) that used data from Zillow comparing median home prices from January 1998 and January 2018 in 25 cities around the country to identify those where prices had gone up the most. Of the top 10 cities it’s not surprising that 8 were in California, 1 was in Hawaii and the #5 city was Anna Maria. Holmes Beach was in the top 25 at #23…. Which supports the great long term value in property on the island.
The properties on this month’s Frank, Scott & Al’s Great Buy’s list have not changed from last month. If you’re looking for a great location in Holmes Beach with 180-degree views of the Gulf, then you must look at this one of a kind condo 5622 Gulf Drive Vista # 4 listed at $2,600,000 arguably the best built complex on the island with only 4 units in the complex. At the other end of the spectrum is 3303 Gulf Dr. Pirates Cove #1 totally remodeled condo recently reduced to $424,900. Call me for more information on these or other real estate opportunities.
Of the current Anna Maria Real Estate for sale; of 148 single family homes the average sale price is $1,535,576 and the median sale price is $1,250,000. The lowest priced single-family home on the island is currently $360,000 and the highest priced is $6,495,000. For the 65 condos currently for sale on AMI the average and median sale prices are $653,823 & $588,000 respectively with the lowest $198,900 and the highest $2,600,000.
The Longboat Key current inventory is 278 (SF-76, Con-173, Dup-1 & Lot-28) about the same as last month at 277 and down from the previous four months at 307, 320, 377 & 403 and well below the low of the previous five months at 304,314,336,345 and 374. As you can see the last two months inventory dropped well below 300 when it was well above 300 for the previous nine months. Of the current inventory of 76 single family homes the average price is $2,241,770 and the median price is $1,350,000. For the 173 condos currently for sale the average sale price is $808,023 and the median sale price $549,000 with the lowest price at $229,000 and the highest at $6,100,000. Pended properties on Longboat Key are 34 (SF-13, Con-21, Dup-0 & Lot-0) significantly down from the previous ten months at 51, 63, 95, 113, 86, 45, 54, 49, 62 & 86. There is only one distressed property on Longboat Key a bank owned condo.
Keep those calls and e-mails coming! We love hearing from you……
Alan, Frank, Scott & Lynn
THE GALLETTO TEAM of Island Real Estate, 6101 Marina Drive, Holmes Beach FL 34217.
For detailed charts see the entire newsletter on our website; http://www.AnnaMariaLuxuryRealEstate.com
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