Vol 6 No. 41 - July 5, 2006

Property sales rebound slightly
By Tom Vaught
sun staff writer

Sales of property on Anna Maria Island were on the rebound in May, according to the latest Anna Maria Island Property Sales Report, but not as strong as May 2005.

The monthly report, published by Barry and Dantia Gould of Island Vacation Properties, is based on listings within the Multiple Listing Service. It shows that 10 houses were sold in May 2006 at an average price of $744,400, or $449 per square foot. Only six homes were sold a month earlier.

The rebound included condominium sales, where seven units were sold at an average sales price of $592,496, or $570 per square foot, in May 2006 compared with one unit sold in a month earlier.

Two duplexes sold in May 2006 at an average price of $788,800, or $456 per square foot, compared to one duplex sale for $545,000 in April 2006.

No lots or commercial sales were reported in either April or May 2006. The small numbers do not truly reflect any trends in terms of sale prices or prices per square foot.

While these figures represent improved sales in the short term, the May 2006 Island figures are way off from those reported in May 2005, according to the report. In that month, 24 single-family residences were sold at a slightly higher average price of $766,604, or $487 per square foot. In addition, May 2005 saw 23 condominium sales on Anna Maria Island at a lower average sales price than May 2006 – $547,748, or $464 per square foot. There were eight duplex sales in May 2005 and the average sales price was also higher at $837,750, or $391 per square foot. Five lots changed hands in May 2005, at an average sales price of $958,000. There were no commercial sales last May.

Available inventory continues to rise from 714 properties on May 11, 2006 to 747 on June 11, 2006. As of that date, there were 293 active residential listings, 306 condominium listings, 82 duplex/triplex listings, 43 lots and 23 commercial properties on the market.

Another positive sign, the report says, is the 35 pending sales as of June 11, 2006, on Anna Maria Island. The breakdown includes 17 single-family residences at an average price of $1,026,171, 12 condominiums at an average price of $927,667, four duplexes or triplexes at an average price of $1,081.0100 and two commercial properties at an average price of $1,600,000. Those 35 properties have a total price of $36,101.299.

The next issue of the Anna Maria Island Property Sales Report will analyze the entire second quarter with comparisons to the second quarter of previous years, which will reveal a more accurate picture.

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