Sales for November 2015 were up 15% over last year at 23 (SF-8, Con-9, Dup-4 & Lot-2) compared to November 2014 at 20 (SF-10, Con-8, Dup-1 & Lot-1). Sales for November 30, 2015 Y-T-D were 373 (SF-212, Con-114, Dup-24 & Lot-23) again up 8% again over November 30, 2014 Y-T-D at 345 (SF-199, Con-91, Dup-34 & Lot-21). Sales for the last 12 months were 409 (SF-232, Con-129, Dup-24 & Lot-24) up 8% over the previous 12 months at 379(SF-212, Con-101, Dup-40 & Lot-26). Of the sales for the last 12 months distressed properties were only 5% of the sales at 21 ( SF-13, Con-7, Dup-1 & Lot-0) compared to the previous 12 months where 6% or 23 ( SF-10, Con-4, Dup-8 & Lot-1) were distressed. Currently there is only 1 distressed property on the market or .4% of the inventory of 285 (SF-157, Con-82, Dup-18 & Lot-28) for sale on the island. Pended properties (properties under contract) are 34 (SF-17, Con-12, Dup- 2 & Lot-3) down from 50 last month and 37 the month before. Inventory on the island has continued to be under 300 for the past eighteen months. It currently is at 285 up a little from 273 last month and 237 the month before.
Since last month’s Frank, Scott & Al’s Great Buy’s the most significant change is the condo at 9935 Manatee Ave (the Palms at Palma Sola Bay) which was reduced again to $699,900. Although on the causeway rather than directly on the island (for easy access to and from the island) it is on Palma Sola Bay and is a great boaters paradise with 3+ bedrooms, 3.5 baths 3,908 sq. ft. under A/C, end unit with two docks, one with a lift, you have to get in and see this property to appreciate it. More like a house than a condo.
To summarize the island market, sales in 2015 continue to run ahead of 2014. Again if you look at November 30, 2015 Y-T-D sales at 373 compared to November 30, 2014 Y-T-D sales at 345 they continue to be up 8%. We continue to match or exceed the great sales years in 2012-2014 which had 431, 409 & 381 properties sold respectively. We are still on track to again in 2015 have sales in the 400 plus or minus range. Single family sales continue at historic highs and for the last three years, continue to be higher than the peak year of 2005. There are currently 157 single family homes for sale on the island with an average and median sale price of $1,272,786 and $1,090,000 respectively. Also there are currently 82 condos for sale on the island with an average and median sale price of $584,312 & $449,000 respectively. The distribution of the Y-T-D sales price of the single family homes sold is 24% <$500K, 43% $500K-$750K, 17% $750K-$1Million and 16% >$1 Million. The distribution of the Y-T-D sales price of Condo’s is 82% <$500K, 13% $500K-$750K, 3% $750K-$1 Million and 2% >$1 Million.
Again I thought you may like to see a comparison to the Longboat Key market. Longboat Key currently has 323 properties for sale (SF-120, Con-173, Dup-3 & Lots-27). There are 30 properties pended (under contract) (SF-13, Con-17, Dup-0 & Lot-0). Of the single families currently for sale the average and median list prices are $2,052,673 and $1,335,000 respectively. Of the Condos currently for sale the average and median list prices are $973,837 and $699,000 respectively. As you can see the single family and Condo average and median sale prices are higher on Longboat Key than Anna Maria. The Condo average and median list prices are higher on Longboat Key because it has more condos with direct Gulf Front views because of the high rises on Longboat. Although Longboat Key has more high-end single family homes for sale than Anna Maria the median list price is pretty close.
For detailed charts see the entire newsletter on our website under NEWSLETTER; www.Alangalletto.com
Call Realtors ALAN and Scott GALLETTO 941.232.2216 and 941-779-3313