|
|
June 2010
Anna Maria Island Property sales for the year ending June 30, 2010 are just short of 50 percent greater than the year prior, with 268 total homes, condos and multifamily units sold compared with 182 for the year ending June 30, 2009.
That's a 47 percent increase in unit sales, and demonstrates a healthy demand for inventory, which is now at just over 500 active listings in the three island cities: Anna Maria, Holmes Beach and Bradenton Beach.
And for the fourth straight month, the average price per square foot for condos sold on the island during the same period is up nearly 15 percent, at $315 versus $277 a year ago.
It's a phenomenal tally, representing pent-up demand for the vacation homes this island offers, generally lower prices, and more flexible sellers than in recent years. Buyers also have shown confidence that their second homes can help pay a portion of their cost through strong rental income.
For buyers, it's still great news, especially when one considers month-to-month comparisons. For example, comparing June 2010 with June 2009, the average selling price per square foot for homes is now just $251 versus $284 a year earlier; for condos, it's a similar story, $231 this year and $253 last year.
Unit sales for June this year are off 11 percent; average price per square foot is a bit lower, and tales of cautious behavior have local agents wondering what -- if any -- additional effect the gusher in the Gulf will have on sales and property values.
For the raw data, check the information below. Note that the "% Change" column refers to the average selling price per square foot, except for the "Totals" line, which is based on the numbers in the first column of data. As usual, this information is derived from the Mid-Florida Multiple Listing Service and is deemed to be accurate.
| Sales June 2009 |
# Sales |
DOM |
Sq. Ft. |
LP |
SP |
SP/Sq. Ft. |
LP/SP |
|
| Residential |
8 |
196 |
1,498 |
$463,550 |
$408,125 |
$284 |
89% |
|
| Condo |
11 |
187 |
1,027 |
$289,909 |
$260,600 |
$253 |
91% |
|
| MultiFamily |
0 |
|
|
|
|
|
|
|
| Totals |
19 |
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
| Sales June 2010 |
# Sales |
DOM |
Sq. Ft. |
LP |
SP |
SP/Sq. Ft. |
LP/SP |
% Change |
| Residential |
12 |
210 |
1,558 |
$426,792 |
$389,083 |
$251 |
90% |
-0.12 |
| Condo |
4 |
390 |
1,066 |
$266,925 |
$247,250 |
$231 |
90% |
-0.09 |
| MultiFamily |
1 |
543 |
1,682 |
$329,000 |
$310,000 |
$184 |
94% |
#DIV/0! |
| Totals |
17 |
|
|
|
|
|
|
-0.11 |
| |
|
|
|
|
|
|
|
|
| Year end 6-30-09 |
# Sales |
DOM |
Sq. Ft. |
LP |
SP |
SP/Sq. Ft. |
LP/SP |
|
| Residential |
99 |
197 |
1,851 |
$699,442 |
$623,558 |
$346 |
90% |
|
| Condo |
66 |
246 |
1,166 |
$368,564 |
$327,989 |
$277 |
89% |
|
| MultiFamily |
17 |
208 |
1,809 |
$502,288 |
$445,915 |
$239 |
91% |
|
| Totals |
182 |
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
| Year end 6-30-10 |
# Sales |
DOM |
Sq. Ft. |
LP |
SP |
SP/Sq. Ft. |
LP/SP |
% Change |
| Residential |
158 |
222 |
1,772 |
$554,334 |
$499,032 |
$296 |
91% |
-0.14 |
| Condo |
95 |
304 |
1,069 |
$393,190 |
$366,156 |
$315 |
91% |
0.14 |
| MultiFamily |
15 |
271 |
2,079 |
$473,899 |
$430,300 |
$183 |
92% |
-0.23 |
| Totals |
268 |
|
|
|
|
|
|
0.47 |
May 2010
Sales of homes, condos and duplexes on Anna Maria Island are up 40 percent comparing the year ended May 31, 2010 with the prior year. In the year ended May 31, 2009, 193 units sold; this year, there were 270.
Condo sales were up the most, an astounding 65 percent, with 62 units sold in the prior year, and 102 sold this year.
Home sales were also up, about 39 percent, with 154 sales this year, and 111 in the previous year.
Duplex sales are down 30 percent, with 20 sales compared to 14 in the year ending May 31, 2010.
Month-to-month sales totals were also up, a total of 26 percent, with 29 sales in May 2010 compared to 23 in 2009.
Condo sales are showing the biggest strength in this market. The average selling price per square foot has risen three months in a row, and now stands at $294. This is a higher price than May's single family home price per square foot average of $286.
Using averages, means, and other statistical data can be a bit dangerous, of course. No single home or condo is really like another (with few exceptions), and these stats can only be used to make broad assumptions about the health of this market place.
Generally, we can say that Anna Maria Island, and the communities of Holmes Beach, Anna Maria and Bradenton Beach have seen a big burst in sales in recent months. That trend could be slowing, though, as spring turns to summer.
Broader market conditions could affect things much more than our local activities, too. And the threat of oil continuing to spill from an out-of-control well in the Gulf is a sobering reminder that a lot of factors are out of our control.
For discussion on the data presented below, and how that affects your buying or selling decisions, don't hesitate to contact me by phone at 941-685-8822 or by email at John@calltheislanders.com.
| Sales May 2009 |
# Sales |
DOM |
Sq. Ft. |
LP |
SP |
SP/Sq. Ft. |
LP/SP |
|
| Residential |
12 |
183 |
1,757 |
$643,733 |
$579,333 |
$344 |
90% |
|
| Condo |
10 |
202 |
1,050 |
$307,970 |
$280,130 |
$260 |
92% |
|
| MultiFamily |
1 |
157 |
2,427 |
$445,000 |
$423,000 |
$174 |
95% |
|
| Totals |
23 |
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
| Sales May 2010 |
# Sales |
DOM |
Sq. Ft. |
LP |
SP |
SP/Sq. Ft. |
LP/SP |
% Change |
| Residential |
21 |
205 |
1,614 |
$516,357 |
$457,876 |
$286 |
90% |
-0.17 |
| Condo |
7 |
261 |
855 |
$272,114 |
$253,771 |
$294 |
94% |
0.13 |
| MultiFamily |
1 |
157 |
2,975 |
$485,000 |
$400,000 |
$134 |
82% |
-0.23 |
| Totals |
29 |
|
|
|
|
|
|
0.26 |
| |
|
|
|
|
|
|
|
|
| Year end 5-31-09 |
# Sales |
DOM |
Sq. Ft. |
LP |
SP |
SP/Sq. Ft. |
LP/SP |
|
| Residential |
111 |
191 |
1,832 |
$703,162 |
$625,862 |
$352 |
90% |
|
| Condo |
62 |
252 |
1,179 |
$409,197 |
$362,632 |
$301 |
88% |
|
| MultiFamily |
20 |
195 |
1,825 |
$488,095 |
$434,528 |
$232 |
91% |
|
| Totals |
193 |
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
| Year end 5-31-10 |
# Sales |
DOM |
Sq. Ft. |
LP |
SP |
SP/Sq. Ft. |
LP/SP |
% Change |
| Residential |
154 |
221 |
1,775 |
$559,556 |
$502,877 |
$299 |
91% |
-0.15 |
| Condo |
102 |
288 |
1,065 |
$387,003 |
$350,122 |
$312 |
91% |
0.04 |
| MultiFamily |
14 |
252 |
2,109 |
$484,249 |
$438,893 |
$183 |
92% |
-0.21 |
| Totals |
270 |
|
|
|
|
|
|
0.40 |
April 2010
The residential market on Anna Maria Island continues to get healthier, with big increases in units sold and even condo prices per square foot going up again this month.
Comprised of the cities of Anna Maria, Holmes Beach and Bradenton Beach, the Island saw total sales representing 28 units, up 40 percent over April, 2009, when 20 properties were sold. Sales are also up 33 percent in the year ending April 30, 2010 over the prior year, with 263 total units sold in the most recent 12 months, compared with 198 units sold in the previous year.
Condo sales are up 22 percent, with 11 sold this year versus nine last year. Values have also increased, based on a $279 price per square foot compared with $247 in '09, up 13 percent. The average condo is a bit smaller, just over 1,100 square feet this year, compared to a bit over 1,300 square feet last year. Actual selling prices are down marginally, at almost $318,000, compared with $327,000 in 2009, a decrease of about three percent.
On the single family home side, prices continue to slide, off 15 percent compared to last year. Average price per square foot in April 2010 was $280; in 2009 it was $328. Unit sales are up 60 percent, though, and a these prices, it's no wonder. The average price for an 1,827 square foot home in April 2010 was $523,063, compared to last year's $575,270 for a 1,713 square foot home.
Looking at the year ending April 30, 2010, single family homes' average price per square foot is off 18 percent, at just over $300 p.s.f., averaging $516,217. The previous year, it was just over $370 p.s.f., at $685,148, a decline of just about 25%.
For those thinking of purchasing (or selling) multifamily products, mostly duplexes on Anna Maria Island, the number of sales in the year just ended is down by about one-third, from 22 units to 14. Sales data are skewed, however, by the only sale last month, four units in a beachfront development, for $1,360,000. Not your ordinary duplex sale.
In summary, 2010 continues to be a hot market on Anna Maria Island. Condos are actually increasing in price; single family homes are going down still. But total sales are markedly up, and, based upon current activity from this reporter, will continue to blaze for at least the next couple of months.
Data to support these conclusions appears below. As always, it is derived from Mid-Florida Regional Multiple Listing Sales information, and is believed to be accurate (but not warranted).
| Sales April 2009 |
# Sales |
DOM |
Sq. Ft. |
LP |
SP |
SP/Sq. Ft. |
LP/SP |
|
| Residential |
10 |
179 |
1,713 |
$678,080 |
$575,270 |
$328 |
86% |
|
| Condo |
9 |
271 |
1,315 |
$370,411 |
$327,000 |
$247 |
88% |
|
| MultiFamily |
1 |
19 |
1,536 |
$324,900 |
$326,000 |
$212 |
101% |
|
| Totals |
20 |
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
| Sales April 2010 |
# Sales |
DOM |
Sq. Ft. |
LP |
SP |
SP/Sq. Ft. |
LP/SP |
% Change |
| Residential |
16 |
171 |
1,827 |
$593,231 |
$523,063 |
$280 |
89% |
-0.15 |
| Condo |
11 |
210 |
1,115 |
$356,436 |
$317,909 |
$279 |
89% |
0.13 |
| MultiFamily |
1 |
226 |
3,580 |
$1,595,000 |
$1,360,000 |
$385 |
85% |
0.82 |
| Totals |
28 |
|
|
|
|
|
|
0.40 |
| |
|
|
|
|
|
|
|
|
| Year end 4-30-09 |
# Sales |
DOM |
Sq. Ft. |
LP |
SP |
SP/Sq. Ft. |
LP/SP |
|
| Residential |
114 |
180 |
1,857 |
$770,910 |
$685,148 |
$371 |
90% |
|
| Condo |
62 |
228 |
1,219 |
$442,440 |
$392,519 |
$318 |
88% |
|
| MultiFamily |
22 |
156 |
1,800 |
$485,218 |
$431,480 |
$233 |
91% |
|
| Totals |
198 |
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
| Year end 4-30-10 |
# Sales |
DOM |
Sq. Ft. |
LP |
SP |
SP/Sq. Ft. |
LP/SP |
% Change |
| Residential |
144 |
177 |
1,792 |
$573,494 |
$516,217 |
$305 |
91% |
-0.18 |
| Condo |
105 |
236 |
1,077 |
$387,135 |
$349,880 |
$308 |
91% |
-0.03 |
| MultiFamily |
14 |
224 |
2,067 |
$481,391 |
$440,536 |
$186 |
93% |
-0.20 |
| Totals |
263 |
|
|
|
|
|
|
0.33 |
March 2010
Anna Maria Island property sales have once again shown increasing strength compared to sales for the same period in the prior year, most surprisingly led by a big increase in condo prices.
The average price per square foot rose more than 25 percent for the five condos sold in March 2010, with the average selling price over $600,000, compared to just over $300,000 in 2009. Much larger properties were also sold, averaging 1,832 square feet versus 1,235 square feet in the prior year. Days on Market was also down, from 322 to 246 days. Does this mark a return to the boom days of years past? Probably not. One of the sales was a large, Gulf-front condo, at $1,667,000, another was a bank-owned property listed low, at $395,000, which sold at $516,000.
More than twice as many homes were sold in 2010 than in 2009, and the average price per square foot was virtually the same, down only four percent. The percentage of listing price to sales price is also up, from 86 percent to 93 percent, indicating that sellers are getting more realistic in their asking prices. The average selling price and property size were very much the same, and the number of days on market decreased markedly, from 243 to 194.
Multi-family properties also saw a big jump, with five sales this year and only one in the same time frame last year. Generally, they were larger properties, averaging 2,193 square feet versus 1,625 in the prior year, driving the average price per square foot down a bit more than 20 percent.
In all, trends continue to show a decline in selling price per square foot for the year ending March 31, 2009 to the same 12 months ending March 31, 2010. Residential values are off 17 percent, condos are down 11 percent and duplexes are down 21 percent.
Still, it's a buyer's market, and savvy buyers are getting some really good deals. Maybe one of them is for you!
Here is the raw data.
| Sales Mar 2009 |
# Sales |
DOM |
Sq. Ft. |
LP |
SP |
SP/Sq. Ft. |
LP/SP |
|
| Residential |
10 |
243 |
2,025 |
$665,050 |
$556,930 |
$304 |
86% |
|
| Condo |
5 |
322 |
1,235 |
$365,200 |
$311,000 |
$254 |
87% |
|
| MultiFamily |
1 |
147 |
1,625 |
$382,500 |
$336,658 |
$207 |
88% |
|
| Totals |
16 |
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
| Sales Mar 2010 |
# Sales |
DOM |
Sq. Ft. |
LP |
SP |
SP/Sq. Ft. |
LP/SP |
% Change |
| Residential |
21 |
194 |
1,908 |
$580,324 |
$543,190 |
$293 |
93% |
-0.04 |
| Condo |
5 |
246 |
1,832 |
$619,400 |
$602,960 |
$319 |
97% |
0.26 |
| MultiFamily |
5 |
134 |
2,193 |
$365,760 |
$353,000 |
$163 |
95% |
-0.21 |
| Totals |
31 |
|
|
|
|
|
|
0.94 |
| |
|
|
|
|
|
|
|
|
| Year end 3-31-09 |
# Sales |
DOM |
Sq. Ft. |
LP |
SP |
SP/Sq. Ft. |
LP/SP |
|
| Residential |
135 |
194 |
1,922 |
$800,923 |
$718,949 |
$375 |
90% |
|
| Condo |
63 |
208 |
1,217 |
$488,960 |
$433,898 |
$344 |
88% |
|
| MultiFamily |
28 |
177 |
1,925 |
$523,400 |
$466,659 |
$237 |
90% |
|
| Totals |
226 |
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
| Year end 3-31-10 |
# Sales |
DOM |
Sq. Ft. |
LP |
SP |
SP/Sq. Ft. |
LP/SP |
% Change |
| Residential |
138 |
178 |
1,783 |
$578,784 |
$519,703 |
$310 |
90% |
-0.17 |
| Condo |
103 |
242 |
1,094 |
$388,952 |
$351,295 |
$306 |
91% |
-0.11 |
| MultiFamily |
14 |
210 |
2,029 |
$390,670 |
$366,679 |
$188 |
94% |
-0.21 |
| Totals |
255 |
|
|
|
|
|
|
0.13 |
February 2010
Sales for homes, condos and duplexes on Anna Maria Island in February 2010 nearly tripled over the prior year, with 26 closings compared with only nine in 2009.
Somewhat surprisingly, the average selling price per square foot increased almost 25 percent for residential properties, with 14 sold, averaging $304 per square foot, versus six in 2009 at $245 psf. However, one of those sales was a beachfront property, with less than 700 square feet, which sold for $1.475 million. That will skew results. Without that transaction included, the average was $276 psf, still an increase, but much less substantial at 13 percent.
Condos held pretty steady, with three times the volume and a nominal four percent decline in price psf.
And multifamily properties (duplexes) had a big jump, with three sales compared with none in 2009.
When looking at the overall year-end figures for the 12 months preceding the end of February, we do see the overall prices per square foot down, from 13 percent to 18 percent, depending upon the category. But total sales are up three percent, which is a good sign.
For more information, or to discuss specific elements of these results, just call or email. I'm happy to talk. The charts are below for your perusal.
| Sales Feb 2009 |
# Sales |
DOM |
Sq. Ft. |
LP |
SP |
SP/Sq. Ft. |
LP/SP |
|
| Residential |
6 |
163 |
1,884 |
$525,317 |
$465,833 |
$245 |
88% |
|
| Condo |
3 |
84 |
1,373 |
$581,233 |
$515,000 |
$370 |
88% |
|
| MultiFamily |
0 |
|
|
|
|
|
|
|
| Totals |
9 |
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
| Sales Feb 2010 |
# Sales |
DOM |
Sq. Ft. |
LP |
SP |
SP/Sq. Ft. |
LP/SP |
% Change |
| Residential |
14 |
75 |
1,708 |
$604,350 |
$548,536 |
$304 |
92% |
0.24 |
| Condo |
9 |
100 |
870 |
$419,511 |
$389,036 |
$356 |
92% |
-0.04 |
| MultiFamily |
3 |
233 |
1,672 |
$461,852 |
$417,667 |
$256 |
90% |
#DIV/0! |
| Totals |
26 |
|
|
|
|
|
|
1.89 |
| |
|
|
|
|
|
|
|
|
| Year end 2-28-09 |
# Sales |
DOM |
Sq. Ft. |
LP |
SP |
SP/Sq. Ft. |
LP/SP |
|
| Residential |
136 |
178 |
1,878 |
$787,967 |
$712,462 |
$379 |
90% |
|
| Condo |
68 |
166 |
1,274 |
$525,241 |
$460,977 |
$349 |
87% |
|
| MultiFamily |
27 |
180 |
1,936 |
$528,618 |
$471,474 |
$239 |
90% |
|
| Totals |
231 |
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
| Year end 2-28-10 |
# Sales |
DOM |
Sq. Ft. |
LP |
SP |
SP/Sq. Ft. |
LP/SP |
% Change |
| Residential |
127 |
181 |
1,781 |
$585,322 |
$518,750 |
$312 |
90% |
-0.18 |
| Condo |
103 |
246 |
1,065 |
$376,176 |
$337,122 |
$303 |
90% |
-0.13 |
| MultiFamily |
9 |
251 |
1,938 |
$404,509 |
$374,278 |
$201 |
93% |
-0.16 |
| Totals |
239 |
|
|
|
|
|
|
0.03 |
January 2010
In Holmes Beach, Anna Maria and Bradenton Beach, the average price per square foot continued to decline on homes and condos both for the same month and for the most recent year ending 31 January, 2010.
For sellers, this continues to be discouraging news. For buyers, though, it's continuing assurance that there are very good deals out there, and that even if the market continues to decline, price-wise, there is still likely to be a good buy for them.
January 2010 marked the decline in average price per square foot from $362 last year to $305, a total of 16 percent, this year in single family home sales. Condos farerd about the same, down 15 percent from $327 psf to $278.
In the year ended January 2010, values were down 22 percent in single family sales, from $381 to $297 per square foot. Condos drifted downward 14 percent for the year, from $347 to $300.
Duplexes, once popular as a way to own a place to stay and earn rental income from the other side, have really dropped in both interest and prices. This last year, only seven duplexes were sold, compared with 31 in the year ended January 31, 2009. Prices were down almost 25%, from $237 psf to $179.
When we take a look at data from August, 2009, 17 residential properties sold for an average of $273 psf, though in the very next month, nine sales averaged $334. Properties in need of renovation will always sell for less; those in great condition will always sell for more.
So, we can look at trends as generally still downward, although any specific month can show a variation from the trend.
Have we hit bottom yet? Probably not. But there is extreme interest in our reduced inventory here on Anna Maria Island, with many, many buyers showing up and getting some great bargains on fine properties.
Here are the raw numbers for your inforrmation:
| Sales Jan 2009 |
# Sales |
DOM |
Sq. Ft. |
LP |
SP |
SP/Sq. Ft. |
LP/SP |
|
| Residential |
9 |
180 |
1,659 |
$708,644 |
$629,722 |
$362 |
91% |
|
| Condo |
4 |
346 |
1,416 |
$558,750 |
$516,375 |
$327 |
90% |
|
| MultiFamily |
2 |
262 |
1,927 |
$494,000 |
$402,500 |
$207 |
80% |
|
| Totals |
15 |
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
| Sales Jan 2010 |
# Sales |
DOM |
Sq. Ft. |
LP |
SP |
SP/Sq. Ft. |
LP/SP |
% Change |
| Residential |
8 |
282 |
1,697 |
$584,225 |
$509,219 |
$305 |
89% |
-0.16 |
| Condo |
5 |
245 |
851 |
$272,200 |
$239,000 |
$278 |
87% |
-0.15 |
| MultiFamily |
0 |
0 |
0 |
$0 |
$0 |
$0 |
0% |
-1.00 |
| Totals |
13 |
|
|
|
|
|
|
-0.13 |
| |
|
|
|
|
|
|
|
|
| Year end 1-31-09 |
# Sales |
DOM |
Sq. Ft. |
LP |
SP |
SP/Sq. Ft. |
LP/SP |
|
| Residential |
141 |
190 |
1,892 |
$800,159 |
$722,510 |
$381 |
91% |
|
| Condo |
71 |
207 |
1,268 |
$514,404 |
$453,585 |
$347 |
88% |
|
| MultiFamily |
31 |
182 |
1,867 |
$505,506 |
$451,687 |
$237 |
90% |
|
| Totals |
243 |
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
| Year end 1-31-10 |
# Sales |
DOM |
Sq. Ft. |
LP |
SP |
SP/Sq. Ft. |
LP/SP |
% Change |
| Residential |
119 |
233 |
1,795 |
$580,058 |
$512,578 |
$297 |
89% |
-0.22 |
| Condo |
97 |
295 |
1,093 |
$378,497 |
$337,806 |
$300 |
90% |
-0.14 |
| MultiFamily |
7 |
271 |
2,007 |
$376,789 |
$330,308 |
$179 |
94% |
-0.24 |
| Totals |
223 |
|
|
|
|
|
|
-0.08 |
December 2009
Sales on Anna Maria Island are up 115 percent compared to December, 2008. And with a 45 percent increase in the average price per square foot for condos sold in December 2009, it appears that even condo values are up. That's the good news.
The bad news is that prices year-to-date are significantly lower than at the market's height. Condo sales for December '09 include two beach-front properties, and five 'condo-tels,' spiking the average way higher than for residential condos.
With a total of 28 sales logged for homes, condos and multifamily properties in Holmes Beach, Bradenton Beach and Anna Maria for the month of December, versus only 13 sales in the same month of 2008, results the pace of selling is significantly higher than in the earlier months of last year. In each category of property, only multifamily shows a decline, down from 29 for the year to only nine.
Single family home sales are nearly at the same number as in the year prior, at 120 for '09 versus 138 in '08. But the average selling price per square foot is down 22 percent, from $385 to $302. For much of early 2009, that figure hovered near the higher end, but with more distressed property sales occurring, we appear to be headed down a slippery price slope with the rest of West Central Florida.
Condo sales are slightly higher than in the prior year, with 96 units sold in '09 and only 72 sold in '08. The averrage price per square foot is down, also, to (coincidentally enough) $302, the same amount as for a single family home! That's a 13 percent decrease from the prior year.
Here are the raw data. Call for further discussion.
| Sales Dec 2008 |
# Sales |
DOM |
Sq. Ft. |
LP |
SP |
SP/Sq. Ft. |
LP/SP |
|
| Residential |
8 |
95 |
1,877 |
$658,962 |
$615,800 |
$383 |
94% |
|
| Condo |
4 |
285 |
998 |
$295,700 |
$257,250 |
$260 |
88% |
|
| MultiFamily |
1 |
416 |
2,121 |
$399,900 |
$350,000 |
$165 |
87% |
|
| Totals |
13 |
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
| Sales Dec 2009 |
# Sales |
DOM |
Sq. Ft. |
LP |
SP |
SP/Sq. Ft. |
LP/SP |
% Change |
| Residential |
12 |
329 |
1,769 |
$571,191 |
$505,062 |
$287 |
89% |
(0.25) |
| Condo |
14 |
343 |
1,024 |
$485,235 |
$427,625 |
$377 |
90% |
0.45 |
| MultiFamily |
2 |
371 |
2,163 |
$343,312 |
$313,000 |
$150 |
92% |
(0.09) |
| Totals |
28 |
|
|
|
|
|
|
1.15 |
| |
|
|
|
|
|
|
|
|
| Year end 12-31-08 |
# Sales |
DOM |
Sq. Ft. |
LP |
SP |
SP/Sq. Ft. |
LP/SP |
|
| Residential |
138 |
238 |
1,908 |
$811,626 |
$733,361 |
$385 |
91% |
|
| Condo |
72 |
266 |
1,254 |
$503,341 |
$444,625 |
$346 |
88% |
|
| MultiFamily |
29 |
261 |
1,863 |
$506,299 |
$455,079 |
$239 |
91% |
|
| Totals |
239 |
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
| Year end 12-31-09 |
# Sales |
DOM |
Sq. Ft. |
LP |
SP |
SP/Sq. Ft. |
LP/SP |
% Change |
| Residential |
120 |
271 |
1,791 |
$589,424 |
$521,475 |
$302 |
89% |
(0.22) |
| Condo |
96 |
369 |
1,118 |
$391,543 |
$350,392 |
$302 |
90% |
(0.13) |
| MultiFamily |
9 |
254 |
1,989 |
$402,836 |
$361,906 |
$185 |
90% |
(0.23) |
| Totals |
225 |
|
|
|
|
|
|
(0.06) |
November 2009
November shows the slide in average selling prices per square foot for homes, condos and duplexes in Holmes Beach, Anna Maria and Bradenton Beach continues.
There are about 38 percent more total units sold on the island in November 2009 versus the same month a year ago; 18 properties sold this year and 13 last year. However, sales in the earlier part of the year were slower: in the year ended 11-30-09, total units were off 15 percent, from 248 in the prior year to 210 this year.
Condo sales doubled from four to eight. Condo prices seem to have stabilized, based solely on a strict month-to-month basis. November 09 is virtually the same as November 08, at around $250 per square foot average. In the year ending November 30, though, the average price was down 15 percent from $338 to $288 per square foot.
Single family homes also show declines, off 19 percent for the entire year ending November 30, down to $309 per square foot, with numbers of homes sold also off, with only 115 homes sold against 143 in the prior year. In fact, with the average price per square foot for the prior year at $381, we're seeing a steady erosion of value in residential real estate.
For investors, it seems the bloom is definitely off the rose. Numbers of sales are off drastically, with only eight sales in the last year against 28 in the prior year. Values are also down, more than 20 percent, with price per square foot falling below $200 for the first time in recent memory. We may consider that most duplexes these days are purchased -- in Holmes Beach, at least -- for the value of their homesites. Due to a quirk of local housing codes, an R-2 zoned property of at least 8,712 square feet can qualify as a place to build two single family homes and sell each as a part of a two-unit condo.
Such a strategy on the city's part allows for an increase in total valuation, an improvement in the age of the built environment, and no significant increase, theoretically, in density. Alas, these structures, while new, lower-cost to insure, and more storm resistant, due to use of modern materials and techniques, do not necessarily fit the style we have come to know and love on our island.
Here are the charts illustrating salient points above.
| Sales Nov 2008 |
# Sales |
DOM |
Sq. Ft. |
LP |
SP |
SP/Sq. Ft. |
LP/SP |
|
| Residential |
8 |
251 |
1,814 |
$904,237 |
$808,750 |
$454 |
91% |
|
| Condo |
4 |
567 |
1,096 |
$331,749 |
$280,500 |
$251 |
86% |
|
| MultiFamily |
1 |
195 |
1,276 |
$239,900 |
$239,900 |
$188 |
100% |
|
| Totals |
13 |
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
| Sales Nov 2009 |
# Sales |
DOM |
Sq. Ft. |
LP |
SP |
SP/Sq. Ft. |
LP/SP |
% Change |
| Residential |
9 |
169 |
1,803 |
$510,922 |
$466,938 |
$280 |
90% |
(0.38) |
| Condo |
8 |
508 |
950 |
$267,975 |
$234,875 |
$249 |
87% |
(0.01) |
| MultiFamily |
1 |
2 |
2,080 |
$318,500 |
$310,500 |
$149 |
97% |
(0.21) |
| Totals |
18 |
|
|
|
|
|
|
0.38 |
| |
|
|
|
|
|
|
|
|
| Year end 11-30-08 |
# Sales |
DOM |
Sq. Ft. |
LP |
SP |
SP/Sq. Ft. |
LP/SP |
|
| Residential |
143 |
237 |
1,900 |
$818,445 |
$732,725 |
$381 |
90% |
|
| Condo |
77 |
252 |
1,293 |
$508,218 |
$439,445 |
$338 |
87% |
|
| MultiFamily |
28 |
256 |
1,854 |
$510,099 |
$458,832 |
$242 |
91% |
|
| Totals |
248 |
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
| Year end 11-30-09 |
# Sales |
DOM |
Sq. Ft. |
LP |
SP |
SP/Sq. Ft. |
LP/SP |
% Change |
| Residential |
116 |
253 |
1,799 |
$596,106 |
$529,678 |
$309 |
89% |
(0.19) |
| Condo |
86 |
369 |
1,128 |
$371,833 |
$333,488 |
$288 |
89% |
(0.15) |
| MultiFamily |
8 |
245 |
1,962 |
$417,350 |
$372,644 |
$191 |
89% |
(0.21) |
| Totals |
210 |
|
|
|
|
|
|
(0.15) |
For more information, or to discuss what these numbers may mean for your buying or selling stragegy, just call me. 941-685-8822 is my cell.
October 2009
Once again, we see the number of sales increasing, and values declining in month-to-month and year-to-year comparisons for sales of homes, condos and duplexes on Anna Maria Island.
It is still a buyer's market, and judging by the numbers of sales, buyers are recognizing the value inherent in today's lower prices in our vacation paradise.
Here are a couple of facts that may color your interpretation of the charts below:
At any given time, averages can be skewed by super-high-priced properties or super-low-priced ones. Note that the single sale of a duplex in October '08 was for $1.8 million. That high number will affect the averages of all multifamily year-end averages for quite some time.
The earlier part of 2009 was a slower sales time than normal. The last three months have averaged about 20 sales per month, and that equates to around 240 over a year's time, which is more or less 'normal' for Anna Maria Island absorption rates.
Lower priced properties seem to be selling better than higher priced properties, pretty much across the board.
The average price per square foot continues to slide as the few short sales and/or foreclosures on the island are snapped up, and as owners of non-distressed properties accede to the demands of the market.
With that, here are the numbers. You can always call or write for additional input.
| Sales Oct 2008 |
# Sales |
DOM |
Sq. Ft. |
LP |
SP |
SP/Sq. Ft. |
LP/SP |
|
| Residential |
6 |
361 |
2,227 |
$955,066 |
$813,083 |
$358 |
87% |
|
| Condo |
3 |
174 |
991 |
$432,500 |
$390,000 |
$387 |
88% |
|
| MultiFamily |
1 |
188 |
2,605 |
$2,200,000 |
$1,800,000 |
$691 |
81% |
|
| Totals |
10 |
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
| Sales Oct 2009 |
# Sales |
DOM |
Sq. Ft. |
LP |
SP |
SP/Sq. Ft. |
LP/SP |
% Change |
| Residential |
10 |
298 |
1,775 |
$464,350 |
$425,250 |
$249 |
91% |
(0.30) |
| Condo |
8 |
180 |
1,102 |
$492,275 |
$472,634 |
$379 |
97% |
(0.02) |
| MultiFamily |
1 |
712 |
2,056 |
$480,000 |
$430,000 |
$209 |
89% |
(0.70) |
| Totals |
19 |
|
|
|
|
|
|
0.90 |
| |
|
|
|
|
|
|
|
|
| Year end 10-31-08 |
# Sales |
DOM |
Sq. Ft. |
LP |
SP |
SP/Sq. Ft. |
LP/SP |
|
| Residential |
137 |
233 |
1,893 |
$807,721 |
$723,640 |
$377 |
90% |
|
| Condo |
78 |
235 |
1,309 |
$535,098 |
$463,721 |
$352 |
87% |
|
| MultiFamily |
27 |
258 |
1,875 |
$520,107 |
$466,940 |
$244 |
90% |
|
| Totals |
242 |
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
| Year end 10-31-09 |
# Sales |
DOM |
Sq. Ft. |
LP |
SP |
SP/Sq. Ft. |
LP/SP |
% Change |
| Residential |
|
