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 (SF) - 4, Condos (Con)-12, Multi-Family homes, aka, Duplex (Dup)-5, & Vacant lots (Lot)-1) up 23% over February 28, 217 Y.T.D. at 47 (SF-22, Con-21, Dup-2 & Lot-2). Sales in February 218 for Anna Maria City, Holmes Beach and Bradenton Beach were 25 (SF-16, Con-6, Dup-3 & Lot-) even with February 217 at 25 (SF-11, Con-11, Dup-1 & Lot-2). The last 12 months sales (Mar 1, 217 to Feb 28, 218) were 412 (SF-244, Con-123, Dup-28, Lot-17) up 14% from the previous 12 months (Mar 1, 216 to Feb 28, 217) at 361 (SF-211, Con-115, Dup-2 & Lot-15). Of the last 12 months sales only 1.5% or 6 (SF-4, Con-1, Dup-1 & Lot-) were distressed properties (bank owned or short sales) compared to.5% or 2 (SF-2, Con-, Dup- & Lot-) in the previous 12 months (Mar 1, 216 to Feb 28, 217). Inventory continues to run well below the normal of 45-5. Inventory is currently at 38 (SF-169, Con-12, Dup-25 & Lot-12). Inventory for the previous twelve months were 297, 254, 249, 231, 214, 223, 24, 254, 267, 297, 297, and 31. Although the inventory has popped up a little this month it hasn t been below 3 since 25 the peak year for prices. Two properties on Frank, Scott & Al s Great Buy s list since last month have been reduced, 744 North Shore Drive is now $1,229, and 363 4 th Ave. is now $929,9 both steps to the beach and very good rentals. The property at 561 Gulf Drive #1 (Hidden Cove) is a one of the kind condo with gulf views from anywhere in the unit and which allows you to walk from your deck right out to the beach. Call me for more information on these or other real estate opportunities. To summarize Anna Maria Island market for the first two months of 218 started off 23% ahead of 217 which was a 4 plus year in sales. Pended properties continue to be strong remaining well above the average. Pended properties (properties under contract) are at 69 (SF-4, Con-24, Dup-3 & Lot-2). 941-232-2216 Alan@AlanGalletto.com 941-779-3313 Scott@AlanGalletto.com www.annamarialuxuryrealestate.com
Distressed properties continue to be virtually non-existent with only one bank owned condo for sale on the island in Sun Plaza West. The current inventory of 169 single family homes the average sale price is $1,246,62 and the median sale price is $998,5. The lowest price single family home on the island is currently $287, and the highest price $4,995,. For the 12 condos for sale the average and median prices respectively are $532,95 & $437,45 with the lowest $199, and highest $1,775,. Longboat Key current inventory is 43 (SF- 113, Con- 249, Dup- 3 & Lot- 38 ) up dramatically from 34 last month and 314, 336, 345 and 374 the four previous months. Of the current inventory of 113 single family homes the average sales price is $2,256,117 and the median sale price is $1,5,. The lowest priced single family home on the Longboat Key is $35,5 and the highest is $26,5,. For the 249 condos for sale the average and median prices respectively are $775,48 and $56,75 with the lowest $219,9 and highest $6,295,. Pended properties on Longboat Key are 86 (SF-25, Con-59, Dup- & Lot-2) up from last month at 86, and 45, 54, 49, 62 and 86 the previous five months. Distressed properties on Longboat Key are only 1, a condo that is bank owned. In summary the sales are running in the peak numbers and the inventory, although it s bumped up the last couple months, is still way below the normal average inventory. If you look at the past 12 months average and median sales prices on all 4 types of properties compared to the previous 12 months prices have risen in the 15% range over that period. Single family average sales prices are up 18% and median sales prices are up 15% from a year ago. Condo average sales prices are up 21% and condo median sales prices are up 11% over a year ago. It continues to be a very healthy market. Keep those calls and e-mails coming! We love hearing from you Alan, Frank & Scott 941-232-2216 Alan@AlanGalletto.com 941-779-3313 Scott@AlanGalletto.com www.annamarialuxuryrealestate.com
FEBRUARY 217 VS. FEBRUARY 218 STATS ON ANNA MARIA ISLAND # Sold 2/217 #Sold 2/218 Pending Inventory HOMES 11 16 4 169 CONDOS 11 6 24 12 M/FAMILY 1 3 3 25 LOTS 2 2 12 TOTAL 25 25 69 38 Mar 1, 217 - Feb 28, 218 SALES ON ANNA MARIA ISLAND # Sold Lowest Highest Avg. Sale Price Median Sale Price HOMES 244 $27, $4,5, $1,87,217 $83,5 CONDOS 123 $ 175, $1,7, $46,786 $375, DUPLEXES 28 $238,35 $1,575, $714,368 $612,5 LOTS 17 $225, $1,899, $565,373 $47, TOTAL 412 Mar 1, 216 Feb 28, 217 SALES ON ANNA MARIA ISLAND # Sold Lowest Highest Avg. Sale Price Median Sale Price HOMES 211 $19,5 $3,95, $915,857 $72, CONDOS 115 $162, $ 937,5 $379,645 $336,5 DUPLEXES 2 $275, $1,625, $668,459 $67,5 LOTS 15 $16, $1,1, $523,767 $47, TOTAL 361 SALES 23-216 216 215 214 213 212 211 21 29 28 27 26 25 24 23 SF 212 228 219 237 245 174 187 118 121 111 74 182 243 198 CON 19 128 16 12 126 126 94 84 57 71 45 186 11 118 DUP 24 27 34 26 27 16 23 1 26 1 15 53 7 31 LOTS 16 24 22 25 33 24 15 12 7 7 4 17 21 7 TOT 361 47 381 48 431 34 319 224 211 199 138 438 435 354 941-232-2216 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 MLSFIRST 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 Apr'14 26 14 3 2 45 May'14 18 8 1 27 Jun'14 22 6 3 2 33 Jul'14 17 9 4 1 31 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 4541
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 Months of Inventory Inventory Inventory vs. Absorption Rate Inventory Months Inventory
FRANK, SCOTT & AL S GREAT BUYS Great Entry Level Island Properties: 1. 163 Gulf Dr. #2 Trade winds Condo ($239,) This stylishly decorated 1 bedroom/1 bath condo with tropical furnishings has a full kitchen a queen sleeper sofa in the living room and the Gulf of Mexico 1 yards away. Great entry level unit and rental ($29,7 in gross annual rental last year). Great Location & Potential Rental Income: 1. 744 North Shore ($1,229,) REDUCED Sundance Cottage is an elevated updated 3 bedroom/2bath home only 5 steps to the beach does about $75K in gross annual rental income. Offered turnkey furnished this cottage offers an expansive covered porch with great views of the sugar sand beach and the Gulf of Mexico sunsets. A generous size heated pool, plentiful patio furniture and gas grill completes this piece of paradise. Check out the virtual tour. 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 2bedrooms/2 baths up and down and comfortable porches. This property does about $8, in gross annual rental income. 3. 363 4 th Ave. Holmes Beach ($929,9) REDUCED This elevated 3 bedroom, 3 bath 2,376 square feet home three house s to the beach with views of the gulf and Bay from the roof top deck. Presented turnkey furnished with elevator is a great rental property. Condos: 1. 561 Gulf Drive (Hidden Cove) #1 Holmes Beach ($995,) One of a kind Luxury Gulf Front Townhouse/Condo 2bed/2.5 bath. Walk out of your unit down a couple onto your deck and down a few steps right onto 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 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.