Anna Maria Island Real Estate Sales Blog

October Sales Results for Anna Maria Island Properties

It now appears that we can say that the single-family home market on Anna Maria Island in Holmes Beach, the City of Anna Maria and Bradenton Beach has finally levelled out. The average price per square foot for year-to-date sales through October 31, 2008 is one dollar higher than during the same period in 2007!

Okay, that translates to about one quarter of one percent. But it's much better than the slide in values eslewhere that has the nation locked in fear.

And if one were to look at the difference in median sales prices, residential real estate on Anna Maria Island, that measure is up about 15 percent! Of course, that does mix in three sales at over $3 million each during 2008. Skews the values just a bit.

I prefer to use the average price per square foot to compare the true value of real estate on the island, rather than median home prices or other determinates of value. I'm including all sales: super-high-end homes (of which there have been three closings this year), and low-end foreclosures and short sales. Total numbers of sales are virtually the same through October (157 in '07 and 158 in '08) and the average price per square foot is also nearly identical ($388 in '07 vs $389 in '08).

On the other hand, condo values continue to decline. We're looking at a drop of more than 30% in condo price per square foot in year-to-date sales ending October 31, 2008. Nowadays, one can get a nice, two-bedroom, two-bath condo in a Gulf-side complex for under $400,000. Not bad!

Multifamily, or income property values are also down, almost 14 percent. That's much less than in past times, though, and at an average of $257 per square foot, there are some serious values available for the part-time owner/investor who wishes to take advantage of once-in-a-while personal use offset by seasonal rental income.

So, here are the numbers. Any questions? Don't hesitate to call me on my cell phone at 941-685-8822. Or you can always email John@calltheislanders.com. Interested in finding values on our beautiful island? You know where to find me. I'll find you what you want, at a price you'll be pleased to pay.

Here's a file you can download. October 2008 stats.xls

Or you can just look below:

Sales Period October 2007	# Sales	DOM	Sq. Ft.	LP	SP	SP/Sq. Ft.	LP/SP
Residential 3	3	290	1,136	$749,633	$621,333	$608	86%
Condo 1	1	232	1,375	$749,000	$650,000	$473	86%
MultiFamily 0	0	0	0	$0	$0	$0	0%
Totals 4	4
Sales Period October 2008	# Sales	DOM	Sq. Ft.	LP	SP	SP/Sq. Ft.	LP/SP	% Change
Residential 3	3	421	2,250	$982,966	$738,666	$330	81%	-45.72%
Condo 3	3	174	991	$432,500	$390,000	$387	88%	-18.18%
MultiFamily 1	1	188	2,605	$2,200,000	$1,800,000	$691	81%	null
Totals 7	7
Sales Period 1-1 to 10-31-07	# Sales	DOM	Sq. Ft.	LP	SP	SP/Sq. Ft.	LP/SP
Residential 108	108	199	1,682	$709,813	$622,989	$388	89%
Condo 40	40	251	1,193	$604,960	$536,835	$466	89%
MultiFamily 9	9	178	1,779	$650,772	$553,605	$298	84%
Totals 157	157
Sales Period 1-1 to 10-31-08	# Sales	DOM	Sq. Ft.	LP	SP	SP/Sq. Ft.	LP/SP	% Change
Residential 93	93	253	1,887	$816,019	$732,043	$389	90%	0.26%
Condo 44	44	258	1,215	$439,802	$394,518	$319	90%	-31.55%
MultiFamily 21	21	307	1,876	$556,023	$499,400	$257	91%	-13.76%
Totals 158	158