Anna Maria Luxury Real Estate January 2019 Newsletter

Size: px

Start display at page:

Download "Anna Maria Luxury Real Estate January 2019 Newsletter"

Claire Cameron
5 years ago
Views:

1 Anna Maria Luxury Real Estate January 219 Newsletter Real Estate Sales on Anna Maria Island for 218 were a little under 217. December 31, 218 Y-T- D AMI sales were 397(SF-234, Con-131, Dup-223, & Lot-9) down 1% from December 31, 217 Y-T-D at 43 (SF-225, Con-135, Dup-25 & Lot-18). Sales in December 218 for Anna Maria City, Holmes Beach and Bradenton Beach were 18 (SF-12, Con-6, Dup- & Lot-) down 3% below December 217 at 26 (SF-16, Con-7, Dup-2 & Lot-1). Of the 218 sales only.7% or 3 (SF-1, Con-1, Dup-1 & Lot-) were distressed properties (bank owned or short sales) compared to 1.5% or 6 (SF-4, Con-1, Dup-1 & Lot-) for 217. As you can see by the charts below the numbers since 21, which was where the market bottomed from the peak of 25, the annual sales continue to be strong in either the high 3 s or low 4 s. The inventory continues to be very low and remains below 3 this month again for the eighth month in a row and for seventeen of the last twenty months. The average inventory over most of the past 3 years has been 4-45 properties for sale at any one time. Inventory is currently at 291 (SF-179, Con-73, Dup-23 & Lot-16). Inventory for the previous thirteen months were 257, 249, 231, 214, 223, 24, 254, 267, 297, 297, 31, 29, 298 as you can see all below 3 every month but one. Low inventory with strong demand means it s more of a sellers market. There is something for everybody on Frank, Scott & Al s Great Buy s list this month. If you re looking for a starter property in a Gulf Front complex, then 568 Gulf Drive #12 is for you. The unit has new tile flooring and bright light décor and overlooks the tennis court and pool. If you re looking for a unique condo that is also a very good rental, then 67 Gulf Dr. #7 is the one for you. This 1,6 sq. ft. 3bedroom/2bath direct gulf front condo is the ultimate in beach living with panoramic views of the gulf. Walk right off your lanai onto the sand. Although it hasn t been rented by its current owner, Vacasa projected it would do $9K-$1K in gross annual rental. See these and more properties below. 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 Alan@AlanGalletto.com Scott@AlanGalletto.com

2 To summarize the Anna Maria Island real estate market for 218, we ended up down 1% compared to 217 which was one of the strongest sales years since 21 as you can see from the charts below. Pended properties (properties under contract) are at 3 (SF-19, Con-9, Dup-2 & Lot-) which is about average. Distressed properties continue to be non-existent with again this month no distressed properties for sale on the island and non in the last six months. The distribution of the single family properties currently for sale on AMI has dramatically skewed upward with only (5) 3% <$5K, (34) 19% 5K-75K, (44) 24% between $75K and $1 million and (97) 54% over $1 million. The distribution for Condos currently for sale has bumped up a little from last year and was (39) 51% <$5K, (21) 28% $5K-$75K, (7) 9% $75K - $1 million and (9) 12% >$1 million. You can see that 78% of the single family prices are over $75K while 51% of the condos were below $5K. The lower prices on condos is due to the fact that most of the condos on the island were built in the 7 s and 8 s and are 2 bedroom/2 bath. Of the current inventory of 179 single family homes the lowest priced is $395, and the highest is $5,75,. Of the current inventory of 73 condos the lowest priced is $219,9 and the highest $2,6,. Of the single-family properties sold in 218, the average sale was $1,47,533 and the median sale $835, and for condos the average sale was $454,941 and median sale $377,5. In 217 the average sale for single family homes was $1,6,886 and the median sale was $81, while the average condo sale was $434,963 and median sale was $352,. Over the last year on Anna Maria Island average and median single-family sales were up -2% and 3% respectively while average and median condo prices were up 1% & 7% respectively. Longboat Key current inventory is 455 (SF- 137, Con- 278, Dup- 4 & Lot- 36) up significantly from 386 last month and from the six previous months at 314, 276, 277, 37, 32 and 377. Of the current inventory of 137 single family homes the average sales price is $1,96,32 and the median sale price is $1,2,. The lowest priced single family home on Longboat Key is $299, and the highest is $22,5,. For the 278 condos for sale the average and median prices respectively are $773,889 & $544,5 with the lowest $169,9 and highest $6,1,. Keep those calls and s coming! We love hearing from you Alan, Scott, Frank & Lynn Alan@AlanGalletto.com Scott@AlanGalletto.com

3 DECEMBER 217 VS. DECEMBER 218 STATS ON ANNA MARIA ISLAND # Sld 12/217 #Sld 12/218 Pending Inventory HOMES CONDOS M/FAMILY LOTS 1 16 TOTAL Jan 1, Dec 31, 217 SALES ON ANNA MARIA ISLAND # Sold Lowest Highest Avg. Sale Price Median Sale Price HOMES 225 $192, $4,5, $1,6,886 $81, CONDOS 135 $ 165, $1,7, $434,963 $352, DUPLEXES 25 $238,35 $1,325, $74,514 $695, LOTS 18 $225, $1,899, $67,94 $475, TOTAL 43 Jan 1, 218 Dec 31, 218 SALES ON ANNA MARIA ISLAND # Sold Lowest Highest Avg. Sale Price Median Sale Price HOMES 234 $265, $5,, $1,47,533 $835, CONDOS 131 $22,5 $1,999, $ 454,941 $377,6 DUPLEXES 23 $49, $1,575, $ 7,478 $62, LOTS 9 $25, $1,45, $ 69,389 $515, TOTAL 397 SALES SF CON DUP LOTS TOT Alan@AlanGalletto.com Scott@AlanGalletto.com

4 UNITS CLOSED ON THE ISLAND FROM Single Fam Condo Multi Fam Lot Total Single Fam Condo Multi Fam Lot 1219 Jan ' Jan' Feb ' Feb' Mar ' Mar' April ' Apr' May ' May' June ' Jun' July ' Jul' Aug ' Aug' Sept ' Sep' Oct ' Oct' Nov ' Nov' Dec ' Dec' Jan ' Jan' Feb ' Feb' Mar ' Mar' April ' Apr' May ' May' June ' Jun' July ' Jul' Aug ' Aug' Sept ' Sep' Oct ' Oct' Nov ' Nov' Dec ' Dec' Jan ' Jan' Feb ' Feb' Mar' Mar' Apr' Apr' May' May' Jun' Jun' Jul' Jul' Aug' Aug' Sep' Sep' Oct' Oct' Nov' Nov' Dec' Dec' Jan' Jan' Feb' Feb' Mar' Mar' Apr' Apr' May' May' Jun' Jun' Jul' Jul' Aug' Aug' Sep' Sep' Oct' Oct' Nov' Nov' Dec' Dec' Source: Manatee MLS FIRST COLUMN TOTAL nd Column TOTAL 2535

5 UNITS CLOSED ON THE ISLAND FROM Single Fam Condo Multi Fam Lot Total Single Fam Condo Multi Fam Lot Total Jan' Jan' Feb' Feb' Mar' Mar' Apr' Apr' May' May' Jun' Jun' Jul' July' Aug' Aug' Sep' Sep' Oct' Oct' Nov' Nov' Dec' Dec' Jan' Jan' Feb' Feb' Mar' Mar' Apr' Apr' May' May' Jun' Jun' Jul' Jul' Aug' Aug' Sep' Sep' Oct' Oct' Nov' Nov' Dec' Dec' Jan' Feb' Mar' Apr' May' Jun' Jul' Aug' Sep' Oct' Nov' Dec' Jan' Feb' Mar' Apr' May' Jun' July' Aug' Sep' Oct' Nov' Dec' Source: Manatee MLS 482 4th Column TOTAL 4879

AVG $ Sold AVG $ Sold 5% 4% 3% 2% 1% % -1% -2% -3% -4% Average Sale Price Year over Year % Change 21 22 23 24 25 26 27 28 29 21 211 212

's) (7% appreciation line added) 2 22 24 26 28 21 212 214 216 218 Condos Multi-Family $1, $8 $6 $4 $2 $- AVG Sales Price ($ 's) Condo &

6 AVG $ Sold AVG $ Sold 5% 4% 3% 2% 1% % -1% -2% -3% -4% Average Sale Price Year over Year % Change Condos Residential Multi-Family Residential 7% App Line $1,2 $1, $8 $6 $4 $2 $- AVG Sales Price- Residential ($ 's) (7% appreciation line added) Condos Multi-Family $1, $8 $6 $4 $2 $- AVG Sales Price ($ 's) Condo & Multi- Family Anna Maria Island Inventory Breakdown Residential Condo Mulit-Family Land 1% 28% 1% 51%

1 2 3 4 5 6 1 2 3 4 5 6 7 8 9 Q1-5 Q2-5 Q3-5 Q4-5 Q1-6 Q2-6 Q3-6 Q4-6 Q1-7 Q2-7 Q3-7 Q4-7 Q1-8 Q2-8 Q3-8 Q4-8 Q1-9 Q2-9 Q3-9 Q4-9 Q1-1 Q2-1 Q3-1 Q4-1 Q1-11 Q2-11 Q3-11 Q4-11 Q1-12 Q2-12 Q3-12 Q4-12

7 Q1-5 Q2-5 Q3-5 Q4-5 Q1-6 Q2-6 Q3-6 Q4-6 Q1-7 Q2-7 Q3-7 Q4-7 Q1-8 Q2-8 Q3-8 Q4-8 Q1-9 Q2-9 Q3-9 Q4-9 Q1-1 Q2-1 Q3-1 Q4-1 Q1-11 Q2-11 Q3-11 Q4-11 Q1-12 Q2-12 Q3-12 Q4-12 Q1-13 Q2-13 Q3-13 Q4-13 Q1-14 Q2-14 Q3-14 Q4-14 Q1-15 Q2-15 Q3-15 Q4-15 Q1-16 Q2-16 Q3-16 Q4-16 Q1-17 Q2-17 Q3-17 Q4-17 Q1-18 Q2-18 Q3-18 Q4-18 Months of Inventory Inventory Inventory vs. Absorption Rate Inventory Months Inventory

8 FRANK, SCOTT & AL S GREAT BUYS Great Entry Level Island Property: Gulf Drive Condo Unit #12 ($489,9) Just reduced This elevated 2 bed/2 bath condo is 2 steps to the Gulf of Mexico in a direct gulf front complex with an elevator. The unit has new tile flooring and bright light décor. It overlooks the tennis court and pool. A must see to appreciate. Great Location & Potential Rental Income: Gulf Drive #4 Vista Grande ($2,6,) Simply the best Gulf Front Condo on Anna Maria Island one of only 4 units in this complex 3- bedroom 3 bath, 1848 sq. ft. Living space and 852 sq. ft. of balconies. Built with high density concrete and 16MPH rated windows & doors. This unit has not been rented but the unit next to it does about $2K of gross annual rental income. A great second home and/or rental Gulf Dr. Holmes Beach ($714,999) Gulf of Mexico beaches are just down the street from this rare duplex or home with in-law apartment however you want to use it. Sold turnkey furnished, this side by side 2 bedrooms/1 bath has a private pool. This property does about $5, in gross annual rental income Concord Ln. Holmes Beach ($1,5,) Boaters dream home in graceful Key Royale neighborhood with dock and boat lift PLUS 2 additional docks for fishing, sunning or launching kayaks or paddle boards. Over 21 feet of seawall to pull a boat up to! No bridges to Tampa Bay or the Gulf of Mexico. 2,533 sq. ft. well maintained home.come see this property. Condos: Gulf Dr. (Gulfplace) #7 Holmes Beach ($1,299,9) One of a kind Luxury Gulf Front Townhouse/Condo 3bed/2 bath, 1,6 sq. ft. Walk out of your unit onto your lanai, down 7 steps to the white beach. A great second home or investment property. This is a property you must see to appreciate. Click on the property address to bring up the information & virtual tour or Call me for more information on these or other great properties Alan (941) Alan@AlanGalletto.com Scott@AlanGalletto.com Island Real Estate, 611 Marina Drive, Holmes Beach, FL

9 Q1-25 Q3-25 Q1-26 Q3-26 Q1-27 Q3-27 Q1-28 Q3-28 Q1-29 Q3-29 Q1-21 Q3-21 Q1-211 Q3-211 Q1-212 Q3-212 Q1-213 Q3-213 Q1-214 Q3-214 Q1-215 Q3-215 Q1-216 Q3-216 Q1-217 Q3-217 Q1-218 Q3-218 Unit Sales # of Transactions 3 # of Transactions (218 Extrapolated) Condos Multi-Family Residential Land Sales by Qtr (Transactions) Unit Sales 5yr Historical Avg Sales by Year - Transactions (218 extrapolated)

10 Single Family Condo Duplex Land Single Family Condo Duplex Land Median Sold Anna Maria Island Average Sold Anna Maria Island

11 ISLAND HOMESTEADS Homesteads Anna Maria Bradenton Beach Holmes Beach AMI Total Statistics on Anna Maria Island & Longboat Key City Population Avg Age Units Owner Occ Rented Vacant AM HB BB LBK Source: 21 Federal Census.

Anna Maria Luxury Real Estate March 2018 Newsletter

Anna Maria Luxury Real Estate March 218 Newsletter Two months into 218 looks to be another good start for the year. February 28, 21 Y.T.D. Anna Maria Island property sales were; 58(Single Family Homes