Anna Maria Island Real Estate Sales Blog

Sales data for February 2009 are in, with some surprising results: compared with the same month in 2008, the number of sales has declined by 56%; the average price per square foot of the homes sold is down 22 percent to $258.30 per square foot, and condo average price per square foot is up nine percent to $369.66!

Of course, fewer units sold can aggregate wild swings in averages. For example, in February 2008, there were 11 homes, six condos and one multifamily property sold. In 2009, only five homes and three condos sold. There were no duplexes sold.

The bigger picture offers different results. Comparing total numbers of sales in the year ended February 28, 2009, we see an increase of about six percent, from 220 to 233. Both home and condo unit sales are slightly down, but there were 30 multifamily sales in the period versus only nine duplexes in the prior year.

And looking at values in terms of price per square foot, on average, single family home prices are up slightly from $376.13 last year to $379.61 this year. Condo averages are down 20 percent, from $435.62 to $349.27. Multifamily prices are also down slightly from $241.53 to $236.69.

One thing is clear: the duplex market is back, and offering good value. With the right property, and a reasonable down payment, it may even possible to achieve positive cash flow!

Single family home prices seem to be stabilizing somewhat, which is good news (although there are non-MLS sales of foreclosed properties that would make a grown Realtor sweat). And there are great values in condo properties, with all the low-maintenance, high-amenity features that make condos a popular alternative.

Here is the data in chart form. As always, the information is from the Mid-Florida Regional MLS and is believed to be accurate, but not warranted to be so. And if you need any further info, or would like to see how this information pertains to your home search or home selling needs, just call on my cell at 941-685-8822. Or email John@CallTheIslanders.com.

Sales Period February 2008	# Sales	DOM	Sq. Ft.	LP	SP	SP/Sq. Ft.	LP/SP
Residential	11	213	2,057	800,981	706,727	$330.47	0.91
Condo	6	175	1,246	425,000	400,500	$339.55	0.94
MultiFamily	1	17	1,144	299,000	282,500	$246.94	0.94
Totals	18
Sales Period February 2009	# Sales	DOM	Sq. Ft.	LP	SP	SP/Sq. Ft.	LP/SP	% Change
Residential	5	160	1,806	520,580	477,000	$258.30	0.90	-0.22
Condo	3	331	1,372	581,233	515,000	$369.66	0.88	0.09
MultiFamily	0	0	0	0	0	0	0	NA
Totals	8							-0.56
Sales Period 3-1-07 to 2-29-08	# Sales	DOM	Sq. Ft.	LP	SP	SP/Sq. Ft.	LP/SP
Residential	147	193	1,746	734,629	642,467	$376.13	0.89
Condo	64	248	1,175	531,255	461,242	$435.62	0.88
MultiFamily	9	94	1,892	602,972	425,000	$241.53	0.88
Totals	220
Sales Period 3-1-08 to 2-28-09	# Sales	DOM	Sq. Ft.	LP	SP	SP/Sq. Ft.	LP/SP	% Change
Residential	135	241	1,875	789,737	714,702	$379.61	0.91	0.01
Condo	68	295	1,274	525,241	460,978	$349.27	0.87	-0.20
MultiFamily	30	270	1,891	512,389	457,326	$236.69	0.90	-0.02
Totals	233							0.06

Thanks for tuning in.

John

Here's a superb job done by Southern Living Magazine in a follow up to their article for March, 2009 featuring Anna Maria Island.

Nice pictures, good captions, even pretty good leads for where to go and what to do!

Click below to follow the lead....

http://www.southernliving.com/travel/south-east/guide-anna-maria-island-florida-00400000040633/