April sales continues the strong sales performance for 2010 and the sales activity remains very strong here on Anna MAria Island, FL. There were 28 properties sold in April (SF-16, Con-11, Dup-1 & Lots-0) compared to 21 (SF-10,Con-9,Dup-1 & Lot-1) in 2009. Island Real Estate sales continue to be strong with 10 properties put under contract and 9 closings in April (32% of the closing on the island). Since January 1st I, Alan Galletto, have personally closed over $6,000,000 worth of property. From the charts below Y-T-D through April 30, 2010 sales are up 66% over the same period in 2009. If you look at the Year end 2009 average & median sales prices and compare them to the previous 12 months and April 30, 2010 average & median sales prices you can see that single family homes, duplex’s & lots are trending up and condos have leveled off. If this trend continues we will see some appreciation in properties by the end of the year. Again, this month the properties sold in the last 12 months are up to 275 compared to the previous 12 months of 267. This is also a very good trend and shows sales on Anna Maria Island, FL. continuing to increase. Another good sign in the market is pending sales (properties under contract) is very strong at 71 (SF-46, Con-18, Dup-3 & Lot-4). Last month at this time there were 63 properties pended. Inventory, which last month had bumped up to 567, has dropped down to 543. Over the last 9 months it has been fluctuating between 498 and 575. As I said above, sales look to continue to be strong over the next several months which will continue to pull the inventory down. Distressed properties (short sales & bank owned) last month dropped to 33 and this month bumped up to 43. Distressed properties on Anna Maria Island, FL continue to be low at 6%-8% of the inventory compared to 26% on the mainland.
For another consecutive month one of Frank Davis & Alan Galletto’s Great Buys has gone under contract. The canal home at 521 69th St. Holmes Beach on Anna MAria FL. went under contract and is due to close the end of June. This month we still have 5806 Imperiore, Holmes BEach on Anna Maria, FL. listed at $389,000 a 2 bedroom/2 bath totally remodeled and turnkey furnished. For those of you looking for an entry level condo 100 yards to the beach check out 3702 6th Ave. #4 Holmeas Beach, Anna Maria FL. now listed at $259,000. You can’t get this close to the beach for this price. We still have our luxury picks 108 36th St. Holmes Beach on Anna Maria Island, FL. a beautifully appointed condo in Palm Gables listed at $1,490,000. You have to see this property to appreciate it. Also please check out 200/202 38th St. Holmes BEach on Anna Maria Island, FL. ($895K & $775K) a two unit gulf view condo well under market for units with Gulf Views.
Check my web site www.AlanGalletto.com to look at the average and median sales prices at the end of 2009 and compare them to the last 12– 75% of the total sales were months sales and the 2010 year-to-date sales you can see that all four types of properties average & median sales prices are trending up. That, along with a continued increase in sales volume, are all good signs for the island market. What is also interesting is that the average & median sales prices as well as sales volume are up and at the same time high end sales are only a small fraction of the total sales. In 2006 – 56% of the total sales were under $700K. In 2007- 78% of the total sales were under $700K. In 2008 under $700K. In 2009 – 90% of the total sales were under $700K. In 2010 Y-T-D through April – 92% of the total sales were under $700K. You can see that although the number of sales are up, a smaller proportion of the total sales are over $700K than in previous years. That would understate the increase in average and median sales prices. The sales by quarter chart shows just the first quarter of 2010 until we get the full 2nd quarter numbers but based on Aprils sales and the strong pended contracts I would expect the sales to continue trending up.
Next month begins hurricane season (June 1 – November 30) so I’ve included an updated map of all the US hurricane landfalls from 1950 – 2009 which shows that the Florida west coast is less vulnerable than most of the US coastline.
Keep those calls and e-mails coming! We love hearing from you……Alan & Frank
Ask Alan -THE Realtor for other great real estate on Anna Maria Island, FL.
Call Realtor ALAN GALLETTO 941.232.2216 of Island Real Estate.