Anna Maria Island Real Estate Sales Blog

Here's our data for sales on Anna Maria Island. Information is from the Manatee Multiple Listing Service, and is current as of June 5, 2008.

Immediately below are spreadsheets comparing sales of homes, condos and multifamily dwellings in the cities of Anna Maria, Holmes Beach and Bradenton Beach for the months of May, 2007 and 2008. All the information is presented as an average of total data.

Sales for May '08	Listing $	SqFt	Listing Pr/SqFt	DOM	Sale $	Selling Pr/SqFt
Residential (13)	$1,127,508	1874	$555	184	$997,935	$499
Condominium (9)	$479,533	1272	$392	208	$433,806	$352
Duplex and Triplex (3)	$452,633	1838	$246	109	$408,333	$222
All Types (25)	$686,558	1661	$398		$613,358	$357
Sales for May '07	Listing $	SqFt	Listing Pr/SqFt	DOM	Sale $	Selling Pr/SqFt
Residential (18)	$740,922	2021	$369	96	$640,056	$323
Condominium (10)	$572,080	1256	$480	129	$517,650	$434
All Types (28)	$656,501	1638	$424		$578,853	$378

Note the huge discrepancy between the average listing and selling prices per square foot for 2008 vs 2007 residential sales data. This is primarily because of two very large sales, one of which was a direct Gulf-front home valued at $3,725,000 and the other a Bimini Bay property sold for $2,000,000.

If we take those two sales out of the equation, this is what we get:

Corrected Sales for May 08	Listing $	SqFt	Listing Pr/SqFt	DOM	Sale $	Selling Pr/SqFt
Residential (11)	$714,327	1657	$454	177	$654,377	$418
Condominium (9)	$479,533	1272	$392	208	$433,806	$352
Duplex and Triplex (3)	$452,633	1838	$246	109	$408,333	$222
All Types (23)	$548,831	1589	$364		$498,839	$330

With this information in mind, we can see that residential properties sales price per square foot is inching up a bit from the previous year, but that condo and multifamily prices per square foot are continuing to decline.

Now, let's look at how sales for 2008 year to date compare with the prior year.

YTD Sales for May 08	Listing $	SqFt	Listing Pr/SqFt	DOM	Sale $	Selling Pr/SqFt
Residential (61)	$918,090	1943	$460	148	$826,289	$417
Condominium (39)	$526,615	1359	$386	171	$470,247	$344
Duplex and Triplex (12)	$525,600	2013	$259	119	$477,700	$235
All Types (112)	$656,768	1772	$369		$591,412	$332
YTD Sales for May 07	Listing $	SqFt	Listing Pr/SqFt	DOM	Sale $	Selling Pr/SqFt
Residential (54)	$745,631	1861	$413	109	$655,953	$362
Condominium (37)	$607,518	1325	$466	113	$554,714	$426
Duplex and Triplex (6)	$664,833	1738	$368	135	$592,500	$321
All Types (97)	$672,661	1641	$416		$601,055	$370

Again, we see a big uptick in the price per square foot for residential properties, and decreases in condos and multifamily. But again, we should take out the extraordinary sales to see the truer 2008 YTD picture:

YTD Sales for May 08 w/o record sales	Listing $	SqFt	Listing Pr/SqFt	DOM	Sale $	Selling Pr/SqFt
Residential (59)	$811,924	1915	$425	153	$731,842	$386
Condominium (39)	$526,615	1359	$386	171	$470,247	$344
Duplex and Triplex (12)	$525,600	2013	$259	119	$477,700	$235
All Types (110)	$621,380	1762	$357		$559,930	$322

When I reported sales for last month, we were looking at an average selling price per square foot for residential sales near the $400 mark. We're still holding close to that level today. If we complete the first half of the year with prices holding pretty firm, I believe we can consider that the bottom for single family homes here on Anna Maria Island has been reached.

Stay tuned. I'd be glad to make further analyses for you, or provide a deeper interpretation. Don't hesitate to call or email.

Thanks, John van Zandt

941-685-8822 or John@CallTheIslanders.com