Real estate sales on Anna Maria Island continue to soar. After ending the year in 2020 with historic high sales it continues now into 2021. Sales for the month of January 2021 were 70% higher than sales for January 2020. Inventory if it were any lower would be non-existent. Sales for January 2021 for Anna Maria City, Holmes Beach and Bradenton Beach were 56 (SF-28, Con-20, Dup-7 & Lot-1) up 70% above January 2020 at 33 (SF-24, Con-9, Dup-0 & Lot-0) after being up 79% and 99% over the last two months. The inventory continues to be the lowest it’s been in 25 years and continues to be below 300 for twenty-nine of the last thirty-seven months and sixteen of the last nineteen months. Inventory is currently at only 100 (SF-57, Con-25, Dup-7 & Lot-11). Inventory for the previous thirty-seven months were 135, 145, 155, 162, 175, 196, 230, 261, 253, 274, 308, 314, 312, 289, 279, 282, 292, 296, 293, 305, 334, 338, 319, 291, 257, 249, 231, 214, 223, 240, 254, 267, 297, 297, 310, 290, 298, and again has hit a new low for this market. Single family sales for Manatee County December 31, 2020, Y-T-D were up 63% above December 31, 2019, Y-T-D and the current inventory is down 216% from 2019 at this time.
Again….I can not say this strongly enough; for those of you thinking of selling within the next year or two now would be a good time to put your property on the market while it is a sellers’ market. Historically this market has come about every 7-10 years. As far as you buyers…buying sooner is better than later. Call (941) 232-2216 or email me at email@example.com for an opinion of value or to start a search to find a property today.
Since last month’s newsletter there continues to be a lot of activity. 403 20th Place, BB closed for $2,225,000 and 7100 Gulf Drive #202, HB closed for $435,000. The following properties went under contract since last month’s newsletter: 6200 Flotilla #306 HB listed at $559,000; 6814 Gulf Drive, HB listed at $570,000; 2716 Gulf #204, HB listed at $789,000; 600 Manatee Ave #214, HB listed at $379,000; 5622 Gulf Drive#3, HB listed at 2,290,000 and 543 67th St, HB listed at $1,799,900. If you are looking for a great rental there isn’t much to choose from. Of the 57 single family properties currently for sale, there are only 5 single family properties under $1 million and only 14 between 1 Million and 2 million. The property at 228 Willow Ave. recently became available. A 6BR/4.5 Bath a short 2 block walk to the beach and on a canal with too many amenities to say, listed at $3,485,000. If you want to be directly on the Gulf then check out this new Four unit, direct gulf front condo complex The units are 4BR/3.5 Bath between 2495-2635 sq. ft. with amazing views of the Gulf from each one. Call me to get the details…hurry one is already sold. If you want to see these or any other properties just call Lynn or I. We can also put you on your own automatic search for properties with your specific criteria, let us know what that is- today!
To summarize the Anna Maria Island Real Estate Market beginning 2021, sales for January were 70% above January 2020. The inventory continues to drop and continues to be the lowest I’ve seen it in 25 years, at 100 (SF-57, Con-25, Dup-7, Lot-11) down from 135, 145, 155, 162 & 175 the last five months. Pended properties (properties under contract) continue to remain strong at 101 (SF-47, Con-31, Dup-7 & Lot-2) above all but one of the previous eight months at 87, 86, 90, 94, 112, 92, 71 & 42. Distressed properties continue to be non-existent as they have been for the last couple of years with again none in the current inventory and only two in the last thirty months.
The distribution of the single-family properties currently for sale on AMI continues to skew to the high end with only 5% or (3) <$750K, 5% or (3) between $750K and $1 million, 30% or (17) between $1 million and $2 million and 26% or (15) between 2-3 Million and 34% or (19) over $3 million. The distribution for Condos currently for sale on AMI is 32% or (8) <$500K, 32% or (8) $500K-$750K, 16% or (4) $750K – $1 million and 20% or (5) >$1 million. You can see that 95% of the single-family prices are over $750K and 80% are over $1 million while 32% of the condos were below $500K. As you can see again single family prices continue to go up much faster than condo prices. Of the current inventory of 57 “single family homes” the lowest priced property is still $515,000 (a 1br/1bath) home at 205 peacock Lane HB and the highest is $7,985,000 a 1/4 acre gulf front ground level bungalow at 102 77th St. HB Of the current inventory of 25 condos the lowest priced unit again this month is a 2br/1bath condo at 611 Gulf Dr. Imperial House D26 BB listed at $300,000 and the highest $2,399,000 a 3br/2.5 bath direct gulf front L’Plage unit #7 HB. The prices for single family homes continue to move up rapidly while condos continue to creep up. Of the single-family properties currently for sale on AMI, the average list price is $2,308,936 and the median list price is $1,995,000 and for condos, the average list price is $769,459 and the median list price is $588,944.
Longboat Key current inventory has for the eighth month dropped down again significantly to 127 (SF- 30, Con- 79, Dup- 2 & Lot- 16) the lowest it’s been in the last nineteen months at 129, 156, 172, 178, 199, 218, 275, 295, 337, 388, 386, 378, 364, 354, 309, 309, 274, 289,359 and significantly lower than the previous seven months at 388, 386, 404, 442, 461, 455, 452. Of the current inventory of 30 single family homes, the average list price is $2,688,393 and the median list price is $1,887,000. For the 79 condos for sale, the average and median list prices respectively are $1,335,149 & $750,000.
Hope you are enjoying the fall weather (we don’t do winter here!! HA).
Keep those calls and e-mails coming. Please, continue to stay safe!
We love hearing from you and look forward to seeing you on the island……Alan, Frank & Lynn
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