Anna Maria Luxury Real Estate August 218 Newsletter Sales on Anna Maria Island one months into the third quarter of 218 show Y-T-D sales again up 5% at 277 (SF-164, Con-9, Dup-14 & Lot-9) compared to the same point in 217 with Y-T-D sales of 263 (SF-152, Con-82, Dup-15 & Lot-14). Sales on Anna Maria Island for July 218 were up 8% over 217. For July 218 AMI sales were 43 (SF-27, Con-13, Dup-2, & Lot-1) compared to July 217 at 4 (SF-24, Con-12, Dup-2 & Lot-2). Sales for the last 12 months (August 1, 217 to July 31, 218) for Anna Maria City, Holmes Beach and Bradenton Beach were 417 (SF-237, Con-143, Dup-24 & Lot-13) up 5% over the previous 12 months (August 1, 216 to July 31, 217 at 398 (SF-223, Con-132, Dup-25 & Lot-18). Of the last 12 months sales (August 1, 217 to July 31, 218) only.7% or 3 (SF-1, Con-1, Dup-1 & Lot-) were distressed properties (bank owned or short sales) compared to 2% or 7 (SF-3, Con-2, Dup-2 & Lot-) for the previous 12 months (August 1, 216 to July 31, 217). Inventory has dropped down below 3 this month again for the third month in a row after popping up just over 3 the previous three months. Inventory is currently at 266 (SF- 161, Con-76, Dup-16 & Lot-13). Inventory for the previous fifteen months was at 289, 295, 38, 313, 38, 297, 254, 249, 231, 214, 223, 24, 254, 267, & 297. To summarize the Anna Maria Island market for the first seven months of 218 it s continuing with very strong sales Y-T-D continuing up 5% over 217 which as I mentioned in last month s newsletter, was an exceptionally strong sales year at 41 properties sold and historically low inventory which we have experienced since 21. Attesting to the strong market on AMI, I have again left the article that I put in May s newsletter from a personal finance site (GOBANKINGRATES- see attached article) that used data from Zillow comparing median home prices from January 1998 and January 218 in 25 cities around the country to identify those where prices had gone up the most. Of the top 1 cities it s not surprising that 8 were in California, 1 was in Hawaii and the #5 city was Anna Maria. Holmes Beach was in the top 25 at #23. Which supports the great long term value in property on the island. 941-232-2216 Alan@AlanGalletto.com 941-779-3313 Scott@AlanGalletto.com www.annamarialuxuryrealestate.com
The properties on this month s Frank, Scott & Al s Great Buy s list have some changes from last month. If you re looking for a great location in Holmes Beach with 18-degree views of the Gulf, then you must look at this one of a kind condo 5622 Gulf Drive Vista # 4 listed at $2,6, arguably the best built complex on the island with only 4 units in the complex. At the other end of the spectrum is 333 Gulf Dr. Pirates Cove #1 totally remodeled condo listed at $429,. Call me for more information on these or other real estate opportunities. If you look at the average and median sales prices for single family homes and condos over the last 12 months versus the previous 12 months you can see that single family homes are up 6% & 8% respectively and condos are up 13% & 16% respectively year to year. Pended properties (properties under contract) have dipped down this month at 28 (SF-12, Con-13, Dup-3 & Lot-) which is quite a dip from the last several months. Distressed properties continue to be non-existent again with none in the current inventory. Of the current AMI inventory of 161 single family homes the average sale price is $1,543,7 and the median sale price is $1,295,. The lowest priced single-family home on the island is currently $475, and the highest priced is $6,495,. For the 76 condos currently for sale on AMI the average and median sale prices are $624,246 & $55,75 respectively with the lowest $198,9 and the highest $2,6,. The Longboat Key current inventory is 277 (SF-86, Con-165, Dup-1 & Lot-25) down from the last four months at 37, 32, 377 & 43 and well below the low of the previous five months at 34,314,336,345 and 374. Of the current inventory of 86 single family homes the average price is $2,13,724 and the median price is $1,192,. For the 165 condos currently for sale the average sale price is $811,17 and the median sale price $565, with the lowest price at $169,9 and the highest price at $6,1,. Pended properties on Longboat Key are 51 (SF-13, Con-35, Dup- & Lot-3) significantly down from last month at 8 and near the low s for the previous nine months at 63, 95, 113, 86, 45, 54,49, 62 & 86. There is only one distressed property on Longboat Key. Keep those calls and e-mails coming! We love hearing from you Alan, Frank, Scott & Lynn 941-232-2216 Alan@AlanGalletto.com 941-779-3313 Scott@AlanGalletto.com www.annamarialuxuryrealestate.com
JUL 217 VS. JUL 218 STATS ON ANNA MARIA ISLAND # Sld 7/217 #Sld 7/218 Pending Inventory HOMES 24 27 12 161 CONDOS 12 13 13 76 M/FAMILY 2 2 3 16 LOTS 2 1 13 TOTAL 4 43 28 266 Aug 1, 217 - Jul 31, 218 SALES ON ANNA MARIA ISLAND # Sold Lowest Highest Avg. Sale Price Median Sale Price HOMES 237 $265, $4,5, $1,43,192 $84, CONDOS 143 $ 175, $1,999, $465,6 $395, DUPLEXES 24 $49, $1,575, $725,21 $67,5 LOTS 13 $225, $ 1,45, $535,654 $49, TOTAL 417 Aug 1, 216 Jul 31, 217 SALES ON ANNA MARIA ISLAND # Sold Lowest Highest Avg. Sale Price Median Sale Price HOMES 223 $192, $3,95, $985,818 $775, CONDOS 132 $139, $1,65, $41,98 $341, DUPLEXES 25 $238,35 $1,25, $629,653 $615, LOTS 18 $277,5 $1,899, $693,881 $535, TOTAL 398 SALES 24-217 217 216 215 214 213 212 211 21 29 28 27 26 25 24 SF 226 212 228 219 237 245 174 187 118 121 111 74 182 243 CON 132 19 128 16 12 126 126 94 84 57 71 45 186 11 DUP 25 24 27 34 26 27 16 23 1 26 1 15 53 7 LOTS 18 16 24 22 25 33 24 15 12 7 7 4 17 21 TOT 41 361 47 381 48 431 34 319 224 211 199 138 438 435 941-232-2216 Alan@AlanGalletto.com 941-779-3313 Scott@AlanGalletto.com www.annamarialuxuryrealestate.com
UNITS CLOSED ON THE ISLAND FROM Single Fam Condo Multi Fam Lot Total Single Fam Condo Multi Fam Lot 1219 Jan '5 13 14 1 1 29 Jan'9 9 4 2 15 Feb '5 12 11 3 26 Feb'9 5 3 1 9 Mar '5 23 26 5 3 57 Mar'9 1 5 1 1 17 April '5 21 15 1 2 48 Apr'9 1 9 1 1 21 May '5 2 22 8 5 55 May'9 11 1 2 23 June '5 26 25 6 1 58 Jun'9 9 9 3 21 July '5 19 25 6 5 Jul'9 9 6 1 16 Aug '5 17 13 9 39 Aug'9 15 6 2 23 Sept '5 15 9 3 1 28 Sep'9 9 11 2 22 Oct '5 4 21 1 2 28 Oct'9 1 8 1 19 Nov '5 7 3 1 11 Nov'9 9 8 1 1 19 Dec '5 5 2 2 9 Dec'9 12 14 2 28 Jan '6 1 3 5 18 Jan'1 8 5 1 14 Feb '6 4 2 1 7 Feb'1 14 9 3 1 27 Mar '6 6 7 1 14 Mar'1 22 5 5 3 35 April '6 6 1 1 1 9 Apr'1 16 11 1 28 May '6 6 5 2 13 May'1 2 7 1 1 29 June '6 5 4 1 1 Jun'1 12 5 1 18 July '6 6 6 1 13 Jul'1 11 4 2 1 18 Aug '6 6 7 2 15 Aug'1 18 1 2 1 31 Sept '6 7 4 1 12 Sep'1 2 9 4 2 35 Oct '6 9 2 1 1 13 Oct'1 1 8 1 2 21 Nov '6 1 1 1 3 Nov'1 16 7 2 2 27 Dec '6 8 3 11 Dec'1 2 14 1 1 36 Jan '7 2 6 1 9 Jan'11 8 6 1 1 16 Feb '7 4 5 2 1 12 Feb'11 1 11 1 22 Mar'7 19 5 2 2 28 Mar'11 15 17 4 4 4 Apr'7 11 11 1 23 Apr'11 28 19 1 1 49 May'7 16 1 1 27 May'11 15 16 1 3 35 Jun'7 11 3 2 1 17 Jun'11 14 15 1 2 32 Jul'7 8 3 1 12 Jul'11 16 7 4 27 Aug'7 15 6 2 23 Aug'11 14 8 3 25 Sep'7 12 3 15 Sep'11 17 9 1 3 3 Oct'7 3 1 1 5 Oct'11 14 3 3 1 21 Nov'7 2 5 7 Nov'11 1 5 1 1 17 Dec'7 8 13 21 Dec'11 14 9 3 26 Jan'8 6 5 11 Jan'12 13 11 2 2 28 Feb'8 9 5 1 15 Feb'12 16 8 2 1 27 Mar'8 8 8 2 18 Mar'12 26 13 2 41 Apr'8 23 11 6 1 41 Apr'12 24 1 5 4 43 May'8 12 8 3 1 24 May'12 31 16 3 3 53 Jun'8 22 5 2 29 Jun'12 23 9 2 2 36 Jul'8 9 6 4 1 2 Jul'12 13 14 2 1 3 Aug'8 8 2 2 1 13 Aug'12 21 7 2 3 Sep'8 3 1 3 1 8 Sep'12 13 13 1 7 34 Oct'8 7 1 8 Oct'12 18 8 2 5 33 Nov'8 8 4 1 2 15 Nov'12 22 4 4 1 31 Dec'8 6 2 1 9 Dec'12 27 9 1 1 38 Source: Manatee MLS FIRST COLUMN TOTAL 1219 2nd Column TOTAL 2535
UNITS CLOSED ON THE ISLAND FROM Single Fam Condo Multi Fam Lot Total Single Fam Condo Multi Fam Lot Total 2535 482 Jan'13 8 8 2 18 Jan'17 11 1 1 22 Feb'13 12 13 25 Feb'17 11 11 1 2 25 Mar'13 21 3 2 3 29 Mar'17 23 12 4 2 41 Apr'13 23 15 4 2 44 Apr'17 27 11 5 43 May'13 23 6 2 1 32 May'17 31 13 1 3 48 Jun'13 22 18 1 1 42 Jun'17 25 1 6 41 Jul'13 32 11 1 1 45 July'17 24 12 2 2 4 Aug'13 21 7 2 1 31 Aug'17 16 12 1 1 3 Sep'13 24 8 3 4 39 Sep'17 12 9 1 1 23 Oct'13 17 11 2 2 32 Oct'17 13 11 3 1 28 Nov'13 2 1 2 2 34 Nov'17 16 14 3 33 Dec'13 13 1 6 5 34 Dec'17 17 7 2 1 27 Jan'14 22 1 3 2 37 Jan'18 24 6 2 1 33 Feb'14 14 7 2 1 24 Feb'18 16 6 3 25 Mar'14 22 9 3 2 36 Mar'18 24 14 1 39 Apr'14 26 14 3 2 45 Apr'18 26 19 2 1 48 May'14 18 8 1 27 May'18 3 19 1 3 53 Jun'14 22 6 3 2 33 Jun'18 17 13 4 2 36 Jul'14 17 9 4 1 31 Jul'18 27 13 2 1 43 Aug'14 17 9 4 2 32 Sep'14 7 9 8 3 27 Oct'14 2 4 4 4 32 Nov'14 1 8 1 1 2 Dec'14 2 15 1 36 Jan'15 15 9 3 3 3 Feb'15 15 9 1 1 26 Mar'15 31 11 1 3 46 Apr'15 21 15 1 4 41 May'15 37 14 2 3 56 Jun'15 2 13 2 1 36 Jul'15 21 4 3 2 3 Aug'15 16 9 1 2 28 Sep'15 17 11 1 29 Oct'15 13 1 3 1 27 Nov'15 8 9 4 2 23 Dec'15 15 13 3 1 32 Jan'16 15 8 3 1 27 Feb'16 8 7 2 17 Mar'16 2 7 3 1 31 Apr'16 25 1 1 3 39 May'16 3 13 2 45 Jun'16 22 8 3 33 July'16 21 7 2 2 32 Aug'16 11 11 4 1 27 Sep'16 18 8 2 28 Oct'16 9 1 2 21 Nov'16 18 8 3 1 3 Dec'16 15 12 1 28 Source: Manatee MLS 482 4th Column TOTAL 476
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 21 211 212 213 214 215 216 217 218 Condos Residential Multi-Family Residential 7% App Line $1,2 $1, $8 $6 $4 $2 $- AVG Sales Price- Residential ($ '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 & Multi- Family 2 22 24 26 28 21 212 214 216 218 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 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 Months of Inventory Inventory Inventory vs. Absorption Rate Inventory Months Inventory
FRANK, SCOTT & AL S GREAT BUYS Great Entry Level Island Property: 1. 333 Gulf Drive Condo Unit #1 ($429,) This totally updated ground level 2 bed/1 bath condo is 1 steps to the Gulf of Mexico in a very quiet part of Holmes beach. This unit was renovated in 215 right down to new plumbing and electrical service. A must see to appreciate. Great Location & Potential Rental Income: 1. 5622 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. 2. 647 Gulf Dr. Holmes Beach ($895,) Gulf of Mexico beaches are across the street from this beautiful home with in-law apartment or duplex however you want to use it. Sold turnkey furnished with 2 bedrooms/2 baths up and down and comfortable porches. This property does about $8, in gross annual rental income. 3. 411 6 th Ave. Holmes Beach ($699,9) Enchanting Villa Tuscany is nestled in gated tropical gardens just a 3-minute stroll to the sugar sand beaches and 2 minutes from sailboat water. Close to Publix, restaurants and shopping. A great home to live in, rent or use as a second home. This property does about $45, in gross annual rental income. Condos: 1. 561 Gulf Drive (Hidden Cove) #1 Holmes Beach ($995,) One of a kind Luxury elevated Gulf Front Townhouse/Condo 2bed/2.5 bath. Walk out of your unit onto your deck and down steps and ramp to the 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 great properties Alan (941)232-2216 941-232-2216 Alan@AlanGalletto.com 941-779-3313 Scott@AlanGalletto.com Island Real Estate, 611 Marina Drive, Holmes Beach, FL 34217 www.annamarialuxuryrealestate.com
1993 1994 1995 1996 1997 1998 1999 2 21 22 23 24 25 26 27 28 29 21 211 212 213 214 215 216 217 218 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 25 2 15 1 5 2 22 24 26 28 21 212 214 216 218 18 16 14 12 1 8 6 4 2 Sales by Qtr (Transactions) Unit Sales 5yr Historical Avg 5 45 4 35 3 25 2 15 1 5 Sales by Year - Transactions (217 extrapolated)
1 9 8 7 6 5 4 3 2 1 12 1 8 6 4 2 Single Family Condo Duplex Land Single Family Condo Duplex Land Median Sold Anna Maria Island 25 26 27 28 29 21 211 212 213 214 215 216 217 218 Average Sold Anna Maria Island 25 26 27 28 29 21 211 212 213 214 215 216 217 218
ISLAND HOMESTEADS 1998 213 Homesteads 1998 213 Anna Maria 64 542 Bradenton Beach 253 268 Holmes Beach 1436 1254 AMI Total 2293 264 Statistics on Anna Maria Island & Longboat Key City Population Avg Age Units Owner Occ Rented Vacant AM 18 55 1538 77 19 641 HB 4966 54 422 1743 795 1664 BB 1482 5 1762 459 344 959 8248 752 299 1329 3264 LBK 763 68 8834 3928 352 4554 Source: 21 Federal Census.
If You Bought a Home in 1998 in One of These 1 Cities, You Might Be $1 Million Richer Guess which state most of them are in? By Minda ZetlinCo-author, The Geek Gap@MindaZetlin What's a better investment, real estate or the stock market? Over the last 2 years, in spite of the housing crash, you would have done better with real estate if you bought in one of the 2 U.S. cities where prices have risen the most. That's a little misleading, of course. It doesn't take into account things like mortgages or property tax or maintenance and repairs, nor the advantages of having an investment you can also call home. But it's fascinating to see how steeply values have risen in some communities, making many homeowners wealthy in the process. A recent study by the personal finance site GOBankingRates used data from Zillow comparing median home prices in January 1998 and January 218 in 25 cities around the country to identify those where prices had gone up the most. It's probably not surprising that 14 of the 25 cities where prices rose the fastest are in California, where the tech boom has pushed home values into the stratosphere. Four are in Florida, perhaps the result of Baby Boomers growing older and relocating to that popular retirement state. But, somewhat surprisingly, three are in New Jersey. And two, Seattle and Bellevue, are in western Washington, another area where the hightech industry has brought an influx of money and people. It's interesting to take a look at the full list of 25 cities where prices have gone up the most since 1998. Even in number 25 on the list, Oakland, California, owning a home for 2 years would have earned you an average $443, in profit according to GOBankingRates' research. Here's what the top 1 would have gotten you: 1. Encinitas, California Estimated average profit from selling a home bought in 1998: $1.12 million
Ninety-five miles south of Los Angeles and 25 miles north of San Diego, Encinitas is a fun, beachy and historic town with average high temperatures of 72. Sounds like a really nice place to live which may be why it's the most profitable place in the country to have owned a home for the past 2 years. 2. El Segundo, California Estimated average profit from selling a home bought in 1998: $967,1 This Los Angeles County city has a population of less than 17,. The biggest employers are Raytheon, Northrop Grumman, and Boeing. Advances in these industries, along with proximity to the burgeoning LA economy helped push median home prices to $1.25 million this year. 3. West Hollywood, California Estimated average profit from selling a home bought in 1998: $921,8 Bounded by Beverly Hills to the West and Hollywood to the East, West Hollywood is home to the Sunset Strip. Like many cities that are adjacent to desirable areas, West Hollywood has seen home values rise rapidly when residents were priced out of tonier places nearby. Twenty years ago, buying a home here would have been a relative bargain with median prices at $175,, the lowest among the top 25 most profitable cities. 4. San Francisco, California Estimated average profit from selling a home bought in 1998: $884, Even back in 1998, home prices here seemed high with the median over $3,, making San Francisco the most expensive then among the top 25 most profitable cities. Prices have gone up dramatically since then, reaching a staggering $1.61 million this year, according to one study. 5. Anna Maria, Florida Estimated average profit from selling a home bought in 1998: $866,8 Anna Maria, Florida, on Anna Maria Island is a tiny city with only 897 households, according to the 2 census. It's part of the Bradenton-Venice-Sarasota metropolitan area.
6. Santa Clara, California Estimated average profit from selling a home bought in 1998: $84,9 Santa Clara owns and operates Silicon Valley Power Company, a municipal not-forprofit utility which powers such companies as Yahoo and Intel. Like other Silicon Valley towns, it's seen housing prices skyrocket as the tech industry continues to grow. 7. Kailua, Hawaii Estimated average profit from selling a home bought in 1998: $785,9 This town in Honolulu County went from a sleepy beach town to a major tourist destination almost overnight, thanks to former president Barack Obama who was born in Hawaii and spent time at Plantation Estate in Kailua several times during his time in office. Locals are apparently unhappy about the influx of visitors. If they decide to sell, at least they'll make a tidy sum. 8. East Palo Alto, California Estimated average profit from selling a home bought in 1998: $77,3 This town has the wrong name because it's actually directly north of Palo Alto. Left behind during the dot-com boom, East Palo Alto began seeing gentrification in 2, as developers built homes and employees of Facebook and Google began moving in. It has the distinction of being the most profitable city to own a home for the past 2 years in percentage terms. Home prices more than quadrupled, beating the S&P 5 by more than 5 percent. 9. Milpitas, California Estimated average profit from selling a home bought in 1998: $747,8 Milpitas is part of the San Jose metro area, one of the most expensive in the country. Cisco is its top employer. In fact, the city has a bigger proportion of its population employed in the computer and electronics industry than any other city in the country. In 214, Money named it one of the 5 best places to live in the United States. 1. Berkeley, California
Estimated average profit from selling a home bought in 1998: $72,3 Berkeley is home to the University of California's oldest campus, and the Lawrence Berkeley National Laboratory. A socially progressive town, it has few chain stores for a city of its size, due to local regulations intended to support small and local businesses. Published on: Apr 26, 218 More from Inc. Sponsored Financial Content