Sales on Anna Maria Island for June 2019 ran well ahead of sales for June 2018 which helped narrow the 2019 Y-T-D vs 2018 Y-T-D gap. Sales for June 2019 for Anna Maria City, Holmes Beach and Bradenton Beach were 46 (SF-25, Con-17, Dup-4 & Lot-0) up 28% above June 2018 at 36 (SF-17, Con-13, Dup-4 & Lot-2). Sales through the second quarter for June 30, 2019 Y-T-D was 208 (SF-128, Con-62, Dup-13 & Lot-5) down only 11% below June 30, 2018 Y-T-D at 234 (SF-137, Con-77, Dup-12 & lot-8) compared to last month year to date when we were down 18%. The inventory has dropped down this month and has been below 300 for fifteen of the last nineteen months. Inventory is currently at 296 (SF-173, Con-84, Dup-23 & Lot-16). Inventory for the previous nineteen months were 293, 305, 334, 338, 319, 291, 257, 249, 231, 214, 223, 240, 254, 267, 297, 297, 310, 290, 298. It has again ticked down below 300 this month. Lower sales this year over last year isn’t because of low demand but because the inventory continues to be low and buyers are not finding what they want to buy so they wait until it comes on the market.
There is something for everybody on Frank & Al’s Great Buy’s list this month. If you’re looking for a fixer upper or tear down property close to the beach and Bay, then 2901 Ave C HB is for you. I don’t know why this hasn’t sold already. This ground level duplex is on two platted lots and ready for a new buyer to tear it down and build a new home on each lot. Listed at lot value…you can’t buy a lot for $225K. If you’re looking for a 180 degree Bimini Bayfront view and an ideal boater’s home, then 543 67th St. HB is the one for you. Ready to be taken to the next level, this 2,909 sq. ft. 4bedroom/4bath Bimini Bayfront is the ultimate in boating paradise minutes to Tampa Bay or the intercostal. Another great property is 129 52nd St.HB. west of Gulf Drive with 4bedrooms/4 baths and a great rental. Call me for more information on these or other real estate opportunities. We can put you on your own automatic search for properties with your specific criteria.
To summarize the Anna Maria Island Real Estate Market for the first six months of 2019 continues to run slower than the previous 5 years but Pended properties (properties under` contract) continue to be in the good range at 49 (SF-36, Con-9, Dup-3 & Lot-1) a little below last month but still good. Distressed properties continue to be virtually non-existent with no distressed property for sale on the island and none in ten of the previous eleven months. The distribution of the single family properties currently for sale on AMI continues to skew upward and hasn’t changed much in the last year with only 4% or (7) <$500K, 18% or (31) 500K-750K, 19% or (34) between $750K and $1 million, 39% or (69) between $1 million and $2 million and 20% or (35) over $2 million. The distribution for Condos currently for sale is 52% or (44) <$500K, 34% or (28) $500K-$750K, 6% or (6) $750K – $1 million and 8% or (7) >$1 million. You can see that again 78% of the single-family prices are over $750K while 52% of the condos were below $500K. This distribution of single family prices and condo prices hasn’t changed for over a year. Of the current inventory of 173 single family homes the lowest priced property is $359,000 (seaside gardens again) and the highest is still $5,750,000 an old gulf front cottage on a one-acre lot (the cottage is about $50K of the value the rest is the lot). Of the current inventory of 84 condos the lowest priced is $229,900 (still Trade winds) and the highest $2,569,000 (still Vista Grande). Of the single-family properties currently for sale on AMI, the average list price is $1,489,567 and the median list price is $1,299,500 and for condos the average list price is $582,313 and median list price is $499,250.
Longboat Key current inventory is 359(SF- 110, Con- 210, Dup- 23 & Lot- 16) lower than the last six months at 386, 404, 442, 461, 455, 452 which were up from the six previous months at 314, 276, 277, 307, 320 and 377. Of the current inventory of 110 single family homes the average list price is $2,079,386 and the median list price is $1,395,000. The lowest priced single-family home on Longboat Key is $297,500 (2br/2bath in Spanish Main) and the highest is $22,500,000 (A 19,300 sq. ft. home on 1.18 acre on the Gulf). For the 210 condos for sale the average and median list prices respectively are $792,080 & $559,500 with the lowest $214,900 and highest $6,100,000. The Longboat Key inventory took a significant drop this month the same as the AMI inventory.
Have a great rest of the summer and keep those calls and e-mails coming! We love hearing from you and look forward to seeing you on the island……Alan, Frank & 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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