Anna Maria Island Property Sales Report July 2006
FEWER SALES, HIGHER SELLING PRICES CHARACTERIZE JUNE ‘06 ANNA MARIA ISLAND PROPERTY SALES
On a positive note, the number of active real estate listings on Anna Maria Island in June 2006 was down from May ‘06, with 684 properties on the market, including 256 single family residences, 317 condos, 70 duplexes/triplexes and 41 lots. There were 747 properties on the market on Anna Maria Island on May 11, 2006.
Also, there were 114 new island listings posted on the Multiple Listing Service in June ‘06 which is the lowest number for any month this year. A significant number of these new listings were not new at all but was a result of sellers changing agencies.
At press time, there also were 42 pending sales (21 SFRs, 17 condos, two duplexes, two commercial properties) with a total value of $39,855,499. In May ‘06 there were 35 pending sales valued at $36,101.299.
A total of 162 listings have expired or been withdrawn from the market since June 1 ‘06, including 72 SFRs, 59 condos, 24 duplexes/triplexes, one commercial properties and six lots. Inventory reductions, especially properties that were overpriced and not sellable is good news for the sellers still in the market.
Encouraging news for sellers is the fact the final sales prices for properties sold in June, 06 calculated to an average of 94.34% of asking prices. Properties on the market over 120 days closed for an average of 88.84% of asking price.
The June figures reflect a downturn from May ‘06, when AMIPSR reported that ten single family residences were sold at an average price of $744,400 ($449./square foot). Condominium sales also rebounded in May ‘06, from just one in April ‘06 to seven in May ‘06, when the average sale price was $592,496. ($570./square foot). There were also two duplex sales, with the average price $788,800. ($456./square foot).
In the single family residence category, there were just six sales this June versus 27 in June ‘05 and ten in May ‘06. There was some good news, however, in the price of a single family residence sold this June–$1,023,333. ($525./square foot) versus the price of a SFR sold in June ‘05 ($764,976.) and June ‘04 ($760,757.) The June figure is also way up from the $744,000 ($449/sq. ft.) average sale price reported for May ‘06.
Although just six properties sold this June, one went for $2.0 million (108 South 13th St., Bradenton Beach) and another for $1.4 million (621 Key Royale Drive, Holmes Beach). Three of the four other properties sold for three quarters of a million dollars or more with just one sale at a lower level, $325,000.
Four condos were sold in June 2006 versus 19 in June ‘05 and seven in May ‘06. The average sales price was $788,000 this June, highlighted by a $1.9 million sale at 106 36th St., Holmes Beach for which Barry Gould was the selling agent. The other three sales averaged $417,333. Despite fewer sales, the average condo sales price this June was $788,000 versus $644,237. (June 2005) and $417,731 (June 2004). The average sale price of a condo sold in June ‘06 was also higher than the May ‘06 average of $592,496 ($570/square foot).
One duplex was sold in June ‘06 compared with six in June ‘05 and five in June ‘04. This year’s duplex sale fetched $654,000, higher than the $579,000 average sales price in June ‘04 but way below the average sales price of $939,670 last June, when two duplexes sold for over $1 million and also below the $788,800 ($456./square foot) average reported for the two duplexes that sold in May ‘06.
There were no commercial or lot sales in June ‘06, following no sales in either category in May ‘06.
The number of sales across the categories covered by AMIPSR was down dramatically in both June ‘06, second quarter ‘06 and the first six months of ‘06 compared with the same periods last year.
First Six Months Sales Way Down In ‘06 From ‘05 But Still The Third Best In History!
While there appeared to be a rebound in sales in May ‘06 (AMIPSR #23), sales for the first half and the second quarter of this year were down in all categories in terms of number of sales.
For the first half of 2006, 42 single family residences were sold this year versus 117 last year. The average sales price this year was up dramatically, however, from $746,856 last year to $1,025,321 this year.
Also for the first half of this year, the number of condo sales plummeted to 26 from 116 in last year’s first half. Again, the average sales price was higher–$646,996 this year versus $570,057 a year ago.
A dozen duplexes were sold in the first six months of 2006 versus 33 last year. The average sales price was $688,457 this year compared with $732,167 in the first half of 2005.
Three lots were sold in the first half of ‘06 versus 12 in the comparable period of ‘05. Average sales price was up dramatically this year, to $1,113,717 versus $665,750 as year ago.
There were two commercial sales in the first half of ‘06 (average $80,000) compared with seven in the first half of ‘05 ($2,118,557).
Stepping back and looking at the big picture, the first half sales figures from the MLS for 2006 is the third best ever on Anna Maria Island in terms of the gross sales dollars.
Best first half: 2005 - $200,489,205.
Second best first half: 2004 - $116,947,349.
Third best first half: 2006 - $71,990,875.
Fourth best first half: 2003 - $65,682,950
Second Quarter Sales Down In Number, Up In Price
Sales for the second quarter exhibited the same pattern as for the first half, with fewer sales and higher prices in most categories.
There were 21 single family residence sales in second quarter ‘06, when the average sales price was $1,140,429. In the year earlier second quarter, 69 single family residence sales were reported at an average sales price of $756,359.
The average price of a condo sold in second quarter ‘06 followed the same pattern, with 12 condo sales averaging $645,700. In second quarter ‘05, 63 condo sales averaged $613.978.
Five duplexes were sold in second quarter ‘06 at an average sales price of $725,370. In second quarter ‘05, 24 duplexes were sold at the higher average sales price of $792,853.
There were no commercial sales in second quarter ‘06 compared with five commercial sales in the second quarter of ‘05, when the average sale price was $2,210,980.
One lot sold in second quarter ‘06 ($1,875,000) versus eight last year ($772,375 average).
Single Family Residential Sales, June 2006
108 South 13th St., Bradenton Beach, 2BR/3BA, heated inground pool, full bay/partial gulf view, attached two car garage, private dock, 2,104 sq. ft. Built 1950…$2.0 million.
621 Key Royale Drive, Holmes Beach, 3BR/2BA, directly on Tampa Bay, private hot tub and patio, attached two car garage, circle & drive space parking, 2,645 sq. ft. Built 1964…$1.4 million.
10107 Gulf Drive, Anna Maria, 6BR/4BA (4BR on owner’s side of duplex), steps to beach, detached two car garage, 2,655 sq. ft. Built 1972…$850,000.
603 Ivanhoe Lane, Key Royale, Holmes Beach, 3BR/2BA, partial bay view, private dock, attached two car garage, 2,125 sq. ft. Built 1972…$790,000.
132 Hammock Rd., Coconut Bayou, Anna Maria, 3BR/2BA, boat lift/davit/private dock, drive space, 2,210 sq. ft. Built 1981…$775,000.
304 Church Ave., Azure Shores, Bradenton Beach, 1BR/1BA, detached one car garage + drive space, short walk to gulf beaches, 520 sq. ft. Built 1947…$325,000.
Condominium Sales, June 2006
106 36th St. #2, Palm Gables, Holmes Beach, 3BR/3.5BA, heated pool, full gulf view, attached one car garage + under building parking, 1,832 sq. ft. Pre-construction…$1,900,000.
242 North 17th St. #27, Bradenton Beach Club, Bradenton Beach, 2-3BR/2BA, heated pool, spa/hot tub, access to gulf + bay, attached two car garage, 1,320 sq. ft. Built 2004…$580,000.
4307 Gulf Drive #207, Cayman Cay, Holmes Beach, 2BR/2BA, heated pool, attached carport, 1,027 sq. ft. Built 1974…$337,000.
3607 East Bay Drive #104, Sandy Pointe, Holmes Beach, 2BR/2BA, heated pool, attached carport, 976 sq. ft. Built 1996…$335,000.
Duplex Sales, June 2006
201 69th St., West Wind Shores, Holmes Beach, 2BR/1BA + 2BR/1BA, partial gulf view, carport between units, 832 sq. ft. + 832 sq. ft. Built 1969…$654,000.
OTHER JUNE SALES RECORDED WITH MANATEE COUNTY BUT NOT LISTED ON THE MULTIPLE LISTING SERVICE
237 Chilson Ave, Anna Maria. 3BR/2BA Canal front with pool. 75′x 148′ lot. Attached garage. 1250 sq. ft. living space. Built: 1973…$780,000.
436 62nd St., Holmes Beach. 2BR/2BA half a duplex. 1001 sq. ft living space. 3833 sq. ft. lot. Built 1971…$263,000.
242 17th St. North, Bradenton Beach Club. 2BR/2BA Condo. Community pool. 1268 sq. ft. living space. Built: 2004…$580,000
201 69th St. Holmes Beach. 2BR/2BA duplex. 1664 sq. ft living space. 70′ x 100′ corner lot. Built: 1969…$654,000.
4307 Gulf Drive, Unit 207, Cayman Cay Condominium, Holmes Beach. 2BR/2BA, 1027 sq. ft. living space. Community pool. Built: 1974…$337,000
TOTAL VALUE OF SALES IN JUNE, 2006 ON ANNA MARIA ISLAND: $12,560,000.
AMIPSR is published by Dantia Gould and Barry Gould in cooperation with Island Vacation Properties, LLC of Holmes Beach.
Island Vacation Properties Active Listings
TAKE SPECIAL NOTICE: THIS LISTING IS NOT ON THE OPEN MARKET. THE MODEL UNIT WILL BE COMPLETED SOON. ONE AND TWO BEDROOM SUITES WILL BE AVAILABLE THIS FALL. CALL TODAY FOR ADVANCE DETAILS ON AMI’S NEWEST RESORT CONDOMINIUM!
105 39th Street, Unit 2, Holmes Beach. 1BR/1BA condominium in one of the most popular direct beach front resorts, “Anna Maria Island Beach Resort.” This unit is being sold completely renovated and features a private Gulf view patio, large heated pool, gazebo, lush landscaping, new furnishings and centrally located. On-site management helps generate nearly $50,000. annually. Incomparable R.O.I…$449,000. Contact Barry Gould (941-448-5500) or Ted Schlegel (941-518-6117).
BRAND NEW LISTING INCLUDES SPORTS CAR: 6404 Gulf Drive. L’Plage Condominium. 2181 sq. ft. 3BR/3BA end unit in direct Gulf front complex. Large covered lanai and heated pool with in-ground hot tub/spa. Elegant Mediterranean architecture with sprawling lush landscaping. Professionally turnkey furnished with tons of extras, e.g. two new bicycles and sea kayak. Unit has never been rented. SPECIAL BONUS TO BUYER: 2005 Toyota Solara convertible with low mileage in excellent condition; no extra charge.
2728 Avenue E, Holmes Beach. Breath-taking beach house, directly on the Gulf. Spacious setting on quite street. 10,000 sq. ft. lot. 100 feet of beach frontage. 3 BR/3 BA. Screened porch and deck facing the water. “The Alamo” is a must see…$2,640,000. Contact Ted Schlegel (941-518-6117) or Barry Gould (941-448-5500)
5200 Gulf Drive, Martinique South Unit 408, Holmes Beach. 3 BR/ 3 BA end unit with beautiful view of the Gulf and to the east. Private two-car garage, huge storage room on ground level. Lower priced Gulf front 3/3 on the island. 1421 sq. ft…$850,000. Contact Barry Gould (941-448-5500) or Ted Schlegel (941-518-6117).
201 76th St., Holmes Beach. Close to beach, this duplex has total of 4 BR and 2 BA. Corner lot. 1456 sq. ft. Turnkey furnished. Nicely landscaped. Garage parking…$758,000. Contact Ted Schlegel (941-518-6117) or Barry Gould (941-448-5500)
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…$499,000. Contact Ted Schlegel (941-518-6117) or Barry Gould (941-448-5500)
2312 Gulf Drive, Unit 201, Sunset Terrace Condo, Bradenton Beach. 1-2 BR/ 1BA Gulf front suite with large lanai overlooking the beach. Heated pool and undercover parking. Centrally located. And next to trolley stop. Great rental…$695,000. Contact Ed Kirn (941-737-6320) or Mel Neely (941-809-5565).
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…$1,895,000. 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 and has an annual rental in place. This is a great lot zones R2 to build a new home or possibly a new duplex in a desirable location, two blocks to the beach…$575,000. 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…$648,000. Contact Ted Schlegel (941-518-6117).
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. $849,000. Contact Mel Neely (941-809-5565).
1000 Gulf Dr. Unit 5, Bradenton Beach. Beach House Resort. Completely refurbished 1BR/1BA vacation condo directly on the beach is in the center of where the action is and will generate great rental income when the project is completed. Turnkey furnished and heated spa/pool. $510,000. Contact Mel Neely (941-809-5565).
1000 Gulf Dr. Unit 8, Beach House Resort. Completely refurbished 1BR/1BA vacation condo directly on the beach is in the center of where the action is and will generate great rental income when the project is completed. Turnkey furnished and heated spa/pool. $520,000. Contact Ted Schlegel (941-518-6117).
1000 Gulf Dr. Unit 9, Beach House Resort. Completely refurbished 1BR/1BA vacation condo directly on the beach is in the center of where the action is and will generate great rental income when the project is completed. End unit with great south view as well as west view. Turnkey furnished and heated spa/pool. $545,000. Call Island Vacation Properties at 941-778-1000.
3701 5th Ave, Unit 1, Holmes Beach, Gulfview Townhouses. 2BR/2BA 1431 SF unit with heated pool and spa. Under building parking and very close to beach. No rent restrictions and long history of income. Built 1982. $538,000. Contact Mel Neely (941-809-5565).
1007 Gulf Drive, Summer Sands Condominiums, Bradenton Beach. Enjoy a wonderful view of the Intercoastal Waterway from this 2BR/2BA. Master suite is a loft above the living room. Just across the street from the Gulf beach, this end unit features garage parking, elevator, and heated bay front pool…$699,000. Contact Ted Schlegel (941-518-6117) or Barry Gould (941-448-5500).
1453 Gulf Drive, Bermuda Bay Club, Bradenton Beach, Watch the sailboats on the Gulf of Mexico from both the living room and the Master suite balconies or enjoy “sittin’ on the dock o’ the Bay”. This 3BR/2.5BA townhouse with private 2-car garage, and heated pool is turn-key furnished. A sensational second home or high income-producing rental property….$699,000. Contact Barry Gould (941-448-5500) or Ted Schlegel (941-518-6117).
106 36th St., Holmes Beach, Palm Gables Condominiums. New construction just conpleted. 3BR/2 1/2 BA, 2435 sq. ft. 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 and beautifully turnkey-furnished by professional decorator…$1,874,000. Contact Mel Neely (941-809-5565).
110 36th St., Holmes Beach, Palm Gables Condominiums. New exterior construction, 3BR/2 BA, 1627 sq. ft. Turnkey-furnished. Direct beach front unit new elevator, new heated pool, laundry and Gulf front lanai…$1,225,000. Contact Barry Gould (941-448-5500) or Ted Schlegel (941-518-6117).
201 35th St., Anna Maria Beach Place Unit 4. 2 BR/2BA 50 feet to beach. Serene Gulf view from this second floor suite. Turnkey-furnished. Heated pool and outstanding rental history…$654,000. Contact Ted Schlegel (941-518-6117) or Barry Gould (941-448-5500).
201 35th St., Anna Maria Beach Place Unit 3. 1 BR/1 BA, 50 feet to beach. Peaceful location on quite street. Turnkey-furnished. Heated pool and outstanding rental history…$548,000. Contact Ted Schlegel (941-518-6117) or Barry Gould (941-448-5500).
6200 Flotilla Drive, Westbay Point & Moorings Unit 314. Holmes Beach. 2 BR/ 2 BA 2nd floor end unit with new appliances. Turnkey-furnished. Heated pool and tennis courts…$518,000. Contact Ted Schlegel (941-518-6117) or Barry Gould (941-448-5500).
314 61st St., Pool Party. One-of-a-kind Sleeper Duplex! 2 BD/ 2 BA each side backing up to Tropical Landscaped Paradise with gas heated pool/Jacuzzi, Tiki Bar, Gril, Waterfall and your own Hammock. Turnkey furnished. $849,000. Contact Mel Neely (941-809-5565).
COMMERCIAL SALE: The Beach House Resort, 1000 Gulf Drive, Bradenton Beach. Six, newly refurbished 1 bedroom, 1 bath units directly on the beach may be purchased from multiple owners for $3,100,000. Additional north section has yet to be refurbished and may be available as well to own the entire 10-unit resort. Contact Barry Gould (941-448-5500) or Ted Schlegel (941-518-6117).