Anna Maria Island Real Estate Sales Blog

Here are the results for June 2008 sales of homes, condos and multifamily properties on Anna Maria Island.

Sales June 08	Listing $	SqFt	Listing Pr/SqFt	DOM	Sale $	Selling Pr/SqFt
Residential (18)	$659,156	1661	$413	115	$577,417	$356
Condominium (7)	$637,129	1147	$538	179	$561,786	$474
Duplex and Triplex (2)	$412,000	1840	$229	71	$375,000	$208
All Types (27)	$569,428	1549	$393		$504,734	$346

Let's compare these results with the same month in 2007

Sales June 07	Listing $	SqFt	Listing Pr/SqFt	DOM	Sale $	Selling Pr/SqFt
Residential (11)	$578,686	1311	$455	112	$523,182	$410
Condominium (3)	$344,550	532	$662	79	$365,000	$700
Duplex and Triplex (2)	$724,950	2291	$333	24	$555,000	$251
All Types (16)	$549,395	1378	$483		$481,061	$454

Note that despite recent results for single family homes (residential) to stay near $400 per square foot in 2008, that June shows a decline of 13% in value. There has been, however, a significant increase in units sold. Condo unit sales are also up, but values are down. Duplexes continue to see a slide in value.

Now let's see how the year stacks up through June.

Sales YTD 6-30-08	Listing $	SqFt	Listing Pr/SqFt	DOM	Sale $	Selling Pr/SqFt
Residential (79)	$859,092	1881	$449	141	$769,584	$403
Condominium (46)	$543,433	1326	$410	172	$484,177	$364
Duplex and Triplex (14)	$509,371	1988	$255	113	$463,029	$232
All Types (139)	$637,299	1732	$372		$572,263	$333

With 139 sales so far in 2008, we're seeing a lot more activity than in either 2007 or 2006. Here's what 2007 looked like:

Sales YTD 6-30-07	Listing $	SqFt	Listing Pr/SqFt	DOM	Sale $	Selling Pr/SqFt
Residential (65)	$717,379	1767	$420	109	$633,484	$370
Condominium (40)	$587,795	1266	$481	111	$540,485	$446
Duplex and Triplex (8)	$679,862	1876	$359	107	$583,125	$304
All Types (113)	$661,679	1636	$420		$585,698	$373

As mentioned in last month's sales comparison, there have been some record-setting sales this year, in the $3 million-plus range on the beaches. Without those sales, we'd be more likely to approximate the sales results for 2007.

In summary, we're seeing a lot more action in units sold, while dollar values decline in price per square foot. This leads one to believe that the drop in value is not yet over. For buyers, that's good news. For sellers, it's continued reason to price listings aggressively, near the bottom of each category, to attract an offer.

For more information on what these sales mean, call me on my cell at 941-685-8822, or write to john@calltheislanders.com.