Anna Maria Island Real Estate Sales Blog

In a related development to sales on Anna Maria Island, it may be instructional to see how sales on Perico Island at the gated condominium community, Perico Bay Club, compare for the last six months versus the same period a year ago. Here are the charts.

Sales 8-1-07 to 2-29-08	Listing $	SqFt	Listing Pr/SqFt	DOM	Sale $	Selling Pr/SqFt
Condominium (7)	$302,129	1360	$223	158	$267,286	$197

Sales 8-1-06 to 2-28-07	Listing $	SqFt	Listing Pr/SqFt	DOM	Sale $	Selling Pr/SqFt
Condominium (4)	$324,475	1235	$265	143	$292,250	$236

Selling prices per square foot have dropped some 16 percent during the same period. Of course, we have to consider that there are a lot of units now for sale in that development:

Active listings 03-12-08	Listing $	SqFt	Listing Pr/SqFt	DOM
Condominium (56)	$333,218	1423	$235	194

And at this time, there are relatively few under contract waiting to close:

Pending as of 03-12-08	Listing $	SqFt	Listing Pr/SqFt	DOM
Condominium (3)	$355,667	1541	$229	46

Note also that the average listing price is pretty significantly above the recent selling price average. And with a pending to active ratio of 3/56, there's a lot of inventory and not many sales.

Can we believe that there will be a rush to purchase the better 'deals' in Perico as the traditional season (winter and early spring) come to a close?

Call or email me and we'll talk about it.