Anna Maria Island Real Estate Sales Blog

Another month of sales data seems to indicate that the average price per square foot for single family homes on Anna Maria Island is continuing to hold steady, or, perhaps even begin edging up.

The average price per square foot for residential real estate rose about four percent in month-to-month comparisons, and total sales also increased, with six homes sold in November 2008 versus two in the same month in 2007.

Also encouraging are the year-to-year results, as the price per square foot for single family homes is up about five percent over the first 11 months of last year. Total volume of homes sold is down abut 11 percent, but the average price psf is up to $388 from $371.

On the other hand, condominium values continue to slide. As expressed in the average price psf, November 08 is down by almost half from November 07. And year-to-date data for condos is down 30 percent psf. Numbers of condo sales are pretty equal, with 45 sold in 07 and 48 in 08.

Multifamily sales have had a pretty large rebound in volume, up 133 percent, with 21 sold this year versus only 9 last year. Values psf continue to decline, however, with the new benchmark just over $265.

Total sales volume is up two percent, a relatively flat curve. And the current inventory of homes and condos is now down to about 500 units, well below the 700-plus of two years ago.

Here is the information in chart form, for your perusal. If you'd like to discuss the impact on your decision to sell or to buy, please call or email me.

Thanks,

John

Sales Period November 2007	# Sales	DOM	Sq. Ft.	LP	SP	SP/Sq. Ft.	LP/SP
Residential	2	67	1,115	427,000	414,500	$371.75	0.97
Condo	5	249	1,389	786,380	691,000	$497.48	0.88
MultiFamily 0	0	0	0	0	0
Totals	7
Sales Period November 2008	# Sales	DOM	Sq. Ft.	LP	SP	SP/Sq. Ft.	LP/SP	% Change
Residential	6	183	1,304	534,816	503,333	$385.99	0.94	0.04
Condo	4	567	1,096	331,749	280,500	$255.93	0.85	-0.49
MultiFamily	0
Totals	10							0.43
Sales Period 1-1 to 11-30-07	# Sales	DOM	Sq. Ft.	LP	SP	SP/Sq. Ft.	LP/SP
Residential	110	196	1,671	704,671	619,199	$370.56	0.88
Condo	45	251	1,214	625,117	553,964	$456.31	0.89
MultiFamily	9	178	1,779	650,772	553,605	$311.19	0.85
Totals	164
Sales Period 1-1 to 11-30-08	# Sales	DOM	Sq. Ft.	LP	SP	SP/Sq. Ft.	LP/SP	% Change
Residential	99	249	1,851	798,976	718,182	$388.00	0.90	0.05
Condo	48	284	1,205	430,797	385,016	$319.52	0.89	-0.30
MultiFamily	21	307	1,876	556,023	499,400	$266.20	0.90	-0.14
Totals	168							0.02