Real Estate Sales on Anna Maria Island continue at a strong pace. The number of sales in June 2017 at 41 (SF-25, Con-10, Dup-6, Lot-0) were up 24% over June of 2016 at 33 (SF-22, Con-8, Dup-0, Lot-3). As of June 30, 2017 Y.T.D. Anna Maria Island property sales were; 220 (SF – 128, Con – 67, Dup – 13, & Lots –12) up 13% over June 30, 2016 Y.T.D. at 195 (SF-120, Con-53, Dup-12 & Lot-10).
The last 12 months of Florida Real Estate sales for Anna Maria City, Holmes Beach and Bradenton Beach (July 1, 2016 to June 30, 2017) were 386 (SF-220, Con-123, Dup-25, Lot-18) up 5% from the previous 12 months (July 1, 2015 to June 30, 2016) at 367 (SF-211, Con-110, Dup-27 & Lot-19). Of the last 12 months sales only .7% or 3 (SF-2, Con-0, Dup-1 & Lot-0) were distressed properties (bank owned or short sales) compared to 3% or 9 (SF-5, Con-3, Dup-1 & Lot-0) in the previous 12 months (July 1, 2015 to June 30, 2016). Inventory continues to dwindle and run well below the norm. Inventory is currently at 254 (SF-147, Con-84, Dup -14 & Lot-9). Inventory for the previous ten months were 267, 297, 297, 310, 290, 298, 314, 303, 308, 343. As you can see the inventory continues to be running at historic lows while demand seems to be continuing at historic highs.
Again this month we have two great properties that have fantastic rental income on Frank, Scott & Al’s Great Buy’s, 4807 2nd Ave. Holmes Beach at $1,174,000 (recently reduced) and 119 Neptune Lane. Holmes Beach at $1,499,000. 4807 2nd Ave. does $90,000 in gross annual rental income and 119 Neptune Lane does $130,000. Three of our listings recently went under contract 722 Key Royale, 517 Key Royale and 105 Oak Ave. The property at 3603 4th Ave, Holmes Beach a 3BR/3bath single family, three houses to the beach was again reduced last month to $949,000 and has been getting a lot of showings and has an offer in progress. Also if you’re looking for one of the newer condos which also rents very well you should consider 7316 Gulf Drive at La Casa Costiera #8 in Holmes Beach. It is a 2,136 square foot, 3 bedroom 3 bath condo with private garage and private elevator and partial gulf views overlooking the pool. Call me for more information on these or other real estate opportunities.
To summarize the Anna Maria Island market for the first six months of 2017 demand is hot and the inventory keeps shrinking and as I said last month, were off to one of the fastest starts in the last 5 years. Again, pended properties continue in a very healthy range which bodes well for continued healthy sales. Pended properties (properties under contract) are at 45 (SF-27, Con-14, Dup – 2 & Lot-2). Distressed properties continue to be non-existent with no distressed properties currently for sale on the island.
Of the current inventory on Anna Maria Island of 147 single family homes the average sale price is $1,217,037 and the median sale price is $1,075,000. The lowest price single family home on the island is currently $387,500 and the highest price $4,995,000. For the 84 condos for sale on the island, the average and median prices respectively are $534,124 & $449,900 with the lowest $199,000 and highest $1,999,000.
Longboat Key’s current inventory is 331 (SF- 89, Con- 215, Dup- 1 & Lot- 26) at one of the lowest levels in the past nine months (393, 437, 456, 469,304, 314, 336, 345 and 374). Of the current inventory of 88 single family homes the average sales price is $2,389,865 and the median sale price is $1,292,500. The lowest priced single family home on the Longboat Key is $299,000 and the highest is $26,500,000. For the 215 condos for sale the average and median prices respectively are $720,792 and $549,995 with the lowest $222,900 and highest $5,999,000. Pended properties on Longboat Key are 61 (SF-19, Con-42, Dup-0 & Lot-0) down from 66, 68, 79 & 86 the last four months and about average of 45, 54, 49, 62 and 86 the previous five months. Distressed properties on Longboat Key are only 2, one bank owned condo and one short sale single family.
Keep those calls and e-mails coming! We love hearing from you and stop in to see us when you’re on the island……Alan, Frank, Lynn & Scott
See http://www.AnnaMariaLuxuryRealEstate.com NEWSLETTER for detailed charts and facts for Anna Maria Island Real Estate for sale.
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