It seems no matter where people gather the most asked question is, “What do you think of the real estate market on Anna Maria Island?”. Ominous terms such as, “bubble” and “buyer’s market” are finding there way into press articles but the indisputable market statistics are yet to support any such trend in the Anna Maria Island market.

Sellers and buyers are watching for signs of a shift in the market. Are the number of closings going down? Are sale prices leveling off? Are properties on the market longer? Is the gap between asking prices and final sale prices widening? Are there significant price reductions of aging listings? The data collected for this issue regarding single family residences, condominiums, and duplexes/triplexes (and excluding lots and commercial properties) says “no” to all of these questions.

There were 30 closings in October. 2005 compared to 22 in October 2004; up 36.4%.

The average sale price in October, 2005 was $644,337, which was up marginally from $632,509. Last month’s sale prices were skewed down by several moderately priced “resort condos” such as Siam Garden Resort in Anna Maria.

The differential between asking prices and final sale prices in October, 2005 was 98.5% compared to 95.2% in the same month last year.

As of the end of October this year there were only 14 property listings that had lowered their asking price.

One statistic that is worrying some is the number of island properties on the market. This report shows an increase of 144 more listings as of the end of October this year. This is a 52% increase from the same time last year. A major concern? Not if you compare this figure to the entire county. The Bradenton Herald reported active listings tripled over last October.

There is no question the market is entering into a period of adjustment. It would be irresponsible to think we will continue to experience the staggering appreciation figures of the last three years. Fortunately, Anna Maria Island is a paradise where a vast number of people want to come and enjoy the uniqueness, tranquility and high quality of life. Investing wisely will never be a bad idea because there is just so much beach and a finite amount of land that will always be desirable in the long term.

- Barry Gould, Publisher

SALES ACTIVITY ON ANNA MARIA ISLAND STILL UP IN OCTOBER 2005 OVER SAME MONTH IN 2004

Sales activity on Anna Maria Island in October 2005 increased dramatically over the same month in 2004, when the island was still reeling from the impact of the hurricanes of August and September.

Eighteen condominiums with a total value of $9.9 million were sold in October 2005. Average listing price was $552,300 and the average sale price was $548,422, or 99.3% of list price. The average cost of buying a condo on AMI in October ‘04 was slightly higher, $559,950; however, only two condos were sold last October.

This was not the month of the million plus dollar condo sale: just two of the condos sold in October went for over $1 million, with ten of the 18 condos that were sold fetching $390,000 or less, down to $240,000.

Fewer single family residences were sold in October ‘05, eight, than in October ‘04, 13, but the average sale price was up dramatically: $735,375 this October versus $684,116 last October.

Active Real Estate Listings Continue To Rise

Active real estate listings continue to rise, with 364 active listings currently versus 328 last month. A year ago October, there were only 200 properties for sale on the island. Inventory has continued to rise, however, as the last dozen issues of AMIPSR have indicated.

The average listing price for a single family residence is $1,146,599; average square feet is 1,928.

Average listing price for a condo is $919,589; average square feet is 1,376.

Average listing price in the duplex/triplex category is $1,124,390.; average square feet is 1,996.

Average listing price for the 13 lots available is $1,238,346; average square feet is 3,646.

Average listing price for the 21 commercial properties on the market is $2,596,067.; average square feet is 8,028.

41 Pending Sales On AMI

There are 41 pending sales currently on Anna Maria Island, including 20 single family residences, 17 condos, three duplexes and one lot. The average pending sales price for a single family residence is $776,490.just three of the pending sales are for over $1 million.

The average pending sales price for a condo $640,271; just two of the 17 pending condo sales are for over $1 million.

Average pending sales price for a duplex is close to that for a single family residence, $731,667. There is one pending lot sale, at $799,900. and two pending commercial sales, with the average price $922,500. Only one of these properties, one of the two pending commercial sales, brought over $1 million.

Single Family Residential Sales, Oct. 1-31, 2005

120 White Ave., Gulf View, Anna Maria, 3-4BR/2BA, attached carport + drive space, hour is situated on two lots, 1,782 sq. ft. Built 1951…$985,000.

610 Concord Lane, Key Royale, Holmes Beach, 3BR/2BA, attached one car garage + circle parking, dock, no bridge, canal, sailboat, seawall, 1,610 sq. ft. Built 1967…$850,000.

117 Peppertree Lane, Anna Maria, 3BR/2BA, attached two car garage, 1,624 sq. ft. Built 1967…$788,000.

607 Concord Lane, Key Royale, Holmes Beach, 2BR/2BA, attached two car garage + drive space, dock/no bridge, boat access, sailboat, seawall, 1,668 sq. ft. Built 1965…$765,000.

304 Poinsettia Road, Anna Maria, 2BR/2BA, attached four car garage + drive space, property adjoins a buildable lot, 1,357 sq. ft. Built 1997…$750,000.

701 Jacaranda Road, Wells Terrace, Anna Maria, 2BR/2BA, attached one car garage, across street from Gulf of Mexico, 1,032 sq. ft. Built 1977…$685,000.

413 Bay Palms Drive, Bay Palms, Holmes Beach, 3BR/2BA, attached one car garage, boat slip option available, 1,412 sq. ft. Built 1067…$575,000.

108 South 5th St., Cortez Beach, Bradenton Beach, 2BR/2BA, drive space/no covered parking, short walk to beach or bay, 764 sq. ft. Built 1936…$485,000.

Condominium Sales, Oct. 1-31, 2005

7324 Gulf Drive #12, La Casa Costiera, Holmes Beach, 3BR/2.5BA, partial gulf view, two covered parking spaces, large community pool, 1,913 sq. ft. Built 2005…$1,575,000.

6700 Gulf Drive #7, Gulf Place, Holmes Beach, 2BR/2BA, full gulf view, one + parking space plus open space, 1,513 sq. ft. Built 1976…$1,450,000.

2312 North Gulf Drive #106, Sunset Terrace, Bradenton Beach, 2BR/2BA, full gulf view, pool, attached carport plus one space, 1,180 sq. ft. Built 1982…$910,000.

1412 North Gulf Drive #11, Bermuda Bay Club 2, Bradenton Beach, 3BR/2.5BA, partial bay/partial gulf view, heated pool, attached two car garage + drive space, 1,524 sq. ft. Built 1999…$705,000.

6300 Marina Drive #6A, Holmes Beach, 3BR/2.5BA, attached two car garage plus drive space, 1,875 sq. ft. Built 2004…$595,000.

6300 Marina Drive #5A, Holmes Beach, 3BR/2.5BA, attached two car garage plus drive space, 1,875 s2. ft. Built 2004…$595,000.

6300 Flotilla Drive #109, Shell Point, Holmes Beach, 3BR/3BA, heated pool, putting green, shuffleboard, clubhouse, tennis, detached carport, 1,436 sq. ft. Built 1976…$410,000.

1303 South Gulf Drive #2, Bradenton Beach, 2BR/1BA, full gulf view, no garage/open space plus drive space parking, 750 sq. ft. Built 1971…$399,999.

512 Spring Ave. #10, Siam Garden, Anna Maria, 1BR/1BA, heated pool, lush gardens, Thai theme decor, 444 sq. ft. Built N/A…$390,000.

107 South 8th St. #7, Bradenton Beach, 2BR/1BA, steps to beach and bay, community boat dock, open space parking, 657 sq. ft.. Built 1975…$359,000.

107 8th St. #4, Bradenton Beach, 2BR/1BA, steps to beach and bay, community boat dock, open space parking. Built 1975…$359,000.

512 Spring Ave. #9, Siam Garden, Anna Maria, 1BR/1BA, heated pool, lush gardens, Thai theme decor, 412 sq. ft. Built N/A…$350,000.

107 8th St. #6, Bradenton Beach, 1BR/1BA, steps to beach and bay, community boat dock, open space parking, 365 sq. ft. Built 1975…$319,000.

107 8th St. #3, Bradenton Beach, 1BR/1BA, steps to beach and bay, community boat dock, open space parking, 410 sq. ft. Built 1975…$319,000.

107 8th St. #2, Bradenton Beach, 1BR/1BA, steps to beach and bay, community boat dock, open space parking, 390 sq. ft. Built 1975…$309,900.

107 8th St. #1, Bradenton Beach, 1BR/1BA, steps to beach and bay, community boat dock, open space parking, 389 sq. ft. Built 1975…$309,900.

2312 C Ave. #1, Bradenton Beach,, 2BR/1BA, pool, one block from beach, no covered parking, renovated in 1998, 651 sq. ft. Built 1979…$299,000.

512 Spring Ave. #2, Siam Garden, Anna Maria, 1BR/1BA, heated pool, lush gardens, Thai theme decor, 340 sq. ft. Built N/A…$240,000.

Anna Maria Island Property Sales Report is published in cooperation with Island Vacation Properties, LLC, 3001 Gulf Drive, Holmes Beach. The following represents the property sales activity of IVP in August, 2005.

Island Vacation Properties Pending Sales

102 36th St., Holmes Beach, Palm Gables Condominiums. New construction, luxury residences to be complete in the first quarter of 2006. 3BR/3 1/2 BA, 2445 SF under roof. Direct beach front unit with top of the line amenities and design. 9 1/2 foot ceilings, large lanai, crown moldings, elevator, new heated pool…$1,950,000. Contact: Barry Gould (941-448-5500) or Ted Schlegel (941-518-6117).

104 36th St., Holmes Beach, Palm Gables Condominiums. New construction, luxury residences to be complete in the first quarter of 2006. 3BR/3 1/2 BA, 2435 SF under roof. Direct beach front unit with top of the line amenities and design, large lanai, 9 1/2 foot ceilings, crown moldings, elevator, new heated pool…$1,550,000. Contact Mel Neely (941-809-5565).

2716 Gulf Drive, Unit 106, Holmes Beach, Gulf Cabins Condominium. Direct beachfront 2 BR/2 BA, condo with heated pool, covered parking and screened Lanai. Turnkey furnished, 1155 under A/C… $920,000. Contact Mel Neely (941-809-5565). (Closing 10/16/05.)

Island Vacation Properties Active Listings

512 Spring Ave., Anna Maria, Siam Garden Resort Condominiums. Several suites still available in the breath-taking, award-winning Siam Garden Resort. Ground level 1BR/1BA suites, ranging in price between $320,000. to $599,000. There is a 2BR/1BA suite priced at $535,000. and a second floor, tree house loft suite for only $210,000. Best purchase price to gross revenue ratio on the island! Imaginative Thai design inside and throughout the tranquil and romantic grounds which includes a huge heated pool, assigned parking, outstanding income, 200 feet to bay beach by Anna Maria City pier, Private garden patio…$350,000. Contact Barry Gould (941-448-5500) or Ted Schlegel (941-518-6117).

102 4th St., Bradenton Beach. Gulf view duplex. 2 BR/2BA upstairs with new deck facing beach. 1BR/1BA with extra bonus room downstairs. Newly painted…$538,000. Contact Barry Gould (941-448-5500) or Ted Schlegel (941-518-6117).

100 36th St., Holmes Beach, Palm Gables Condominiums. New construction, luxury residences to be complete in the first quarter of 2006. 3BR/3 1/2 BA, 2572 SF under roof. Direct beach front unit with top of the line amenities and design. 9 1/2 foot ceilings, crown moldings, elevator, new heated pool…$1,950,000. Online at: www.palmgables.com Contact: Barry Gould (941-448-5500) or Ted Schlegel (941-518-6117).

112 36t St., Palm Gables Condominiums, Holmes Beach, Ground level 3BR/3 1/2 BA, 1900 SF under air, luxury beach house that will be completely gutted, expanded and refurbished. A new heated pool will be installed next to the vast dune system protected by a footbridge to water’s edge. Massive patio deck faces beach…$2,700,000. Online at www.palmgables.com Contact Barry Gould (941-448-5500) or Ted Schlegel (941-518-6117).

1708 N Gulf Dr., Unit D Bradenton Beach Club. Bradenton Beach. Direct beach front luxury condominium with 2-3 bedroom and 2 baths. Screened lanai overlooking heated pool and the Gulf of Mexico…$1,895,00.

2313 Gulf Drive #201, Bradenton Beach, heated pool, turnkey furnished, direct gulf front condo, 966 sq. ft…$720,000. Contact Ed Kirn (941-737 6320) or Mel Neely (941-809-5565).

201 35th St., Unit 6, Holmes Beach. Anna Maria Beach Place Condominiums. 1 bedroom/1 bath upstairs unit with outstanding gulf views. 594 SF. Heated pool. Turn-key furnished. Long successful rental history… $583,000. Contact Mel Neely (941-809-5565).

3310 Gulf Dr., Unit 3, Holmes Beach. Tropical Sunset Condominiums.

1350 SF, 2BR/2BA updated condo with spectacular Gulf view. Turnkey furnished and great roof top deck with view of Skyway Bridge. Glassed in lanai, heated pool and covered parking…$749,900. Contact Barry Gould (941-448-5500) or Ted Schlegel (941-518-6117).

2311 Canasta Dr, Bradenton Beach. Single family cottage, one house back from the bay. Currently a 1BR/1BA but a great lot to build a new home in a desirable location, two blocks to the beach…$595,000. Contact Barry Gould (941-448-5500) or Ted Schlegel (941-518-6117).

2110 Avenue B, Bradenton Beach. Adorable duplex with 2BR/2Ba plus 1BR/1BA units completely renovated inside and out this year. 1622 SF, ground level, turnkey furnished with lush landscaping and major water element.. Great rental property…$688,000. Contact Ted Schlegel (941-518-6117).