The Anna Maria Island Sun Newspaper

Vol. 8 No. 39 - June 18, 2008

REAL ESTATE


Something for every buyer

I had every intention this week of writing about something a little less intense. After three weeks of covering really serious stuff like hurricanes, foreclosures and property values, I felt it was time to take a break. Maybe evaluate the age old question of white verses brown grout on the kitchen floor or the more politically correct topic of low flow toilets, but alas that was not meant to be.

What changed my mind was the result of my monthly review of local residential property sales transactions. Since I’ve been hearing that April was shaping up to be a turn-around month, I was expecting to find an increase in closings. However, not only was I blown away with the number of transactions, but also with the stability of the sale prices. Another interesting fact I uncovered is where the buyers are coming from.

First of all, the sales period I’m working with was from March 24 through April 19. During that time, the Manatee County Appraiser’s office recorded 22 sales in Holmes Beach, seven sales in Anna Maria and eight sales in Bradenton Beach. Poor little Cortez only had one recorded transaction. Now this may not sound earth shaking, but take my word for it, it is.

The average sale price for the 11 single family homes in Holmes Beach was $696,364 with a high of $1,300,000 and a low of $335,000. The eight closed condos averaged $535,125 with a high of $1,550,000 and a low of $215,000. The two duplexes sold at $269,900 and $435,000, and the residential building lot closed at $205,000.

The city of Anna Maria had an encouraging five single family homes close for an average of $509,000 with the high being $685,000 and the low $385,000. Anna Maria also had one condo close for $290,000 and one building lot for $213,900.

Bradenton Beach closed one single family for $195,000, one mobile for $200,000 and six condos averaging $608,083. The condos had a high of $1,250,000 and a low of $240,000. Cortez’s one sale was for a townhouse closing at $575.000.

Thirty-eight sales may not make you swoon, but you have to crawl before you can walk and we’re slowly crawling and clawing our way back up the real estate ladder. It also is pretty obvious that suddenly there is real estate available for just about every buyer in every price range.

Something that is almost more interesting than the numbers and price levels of these sales is where the buyers are coming from. I reviewed each transaction to determine the buyer’s previous or permanent address. Thirteen states were represented and three foreign countries. Anna Maria Island now has transplants from Georgia, New Hampshire, Missouri, Maryland, Oklahoma, Indiana, Virginia, West Virginia, Wisconsin, California, South Carolina, Massachusetts and of course other cities in Florida. Belgium, United Kingdom and Germany were the European countries represented.

When you boil all of this down what it means to me is that prices are holding much better than I would have thought a year ago, sales are obviously up and people from all over the country and the world are in motion despite gas prices and a jittery stock market.

I for one are feeling much better. In fact, I’m feeling so good that I think I’ll finally get to the column highlighting recommended feng shui colors, sub zero refrigerators and low flow toilets.

Real Estate Transactions
Closed sales between March 24 and April 19, 2008

Anna Maria

223 Oak Ave. Single Family $685,000
115 Peppertree Ln. Single Family 625,000
509 Spring Ave. Single Family 450,000
705 Fern St. Single Family 400,000
309 Spring Ave. Single Family 385,000
522 Pine Ave. #8a Condo 290,000
306 Poinsettia Rd. Lot 213,900

Bradenton Beach

506 Bay Drive S. Condo $1,250,000
200 Gulf Drive S. #7 Condo 750,000
1906 Gulf Drive N. #104Condo 540,000
210 Gulf Drive S. #C Condo 469,500
210 Gulf Drive S. #B Condo 399,000
1801 Gulf Drive N. #203Condo 240,000
2601 Gulf Drive N. #B17Mobile 200,000
1201 Gulf Drive S. #B Single Family 195,000

Cortez

4031 Osprey Harbour LoopTownhouse $575,000

Holmes Beach

100 36thSt. Condo $1,550,000
521 56th St. Single Family 1,300,000
540 Key Royale Drive Single Family 1,020,000
3225 Gulf Drive Single Family 969,000
210 S. Harbor Drive Single Family 845,000
515 68th St. Single Family 835,000
208 56th St. #B Condo 588,000
7005 Holmes Blvd. Condo 560,000
2808 Ave. C Single Family 527,000
203 78th St. Single Family 500,000
214 83rd St. Single Family 485,000
504 70th St. Single Family 444,000
600 Manatee Ave. #235 Condo 439,000
305 56th St. Duplex 435,000
6250 Holmes Blvd. #35 Condo 409,000
210 84th St. Single Family 400,000
2706 Ave. B Single Family 335,000
6200 Flotilla Drive #241 Condo 320,000
6810 Palm Drive Duplex 269,900
3607 East Bay Drive #108Condo 215,000
2914 Ave. C Lot 205,000
6300 Flotilla Drive #82 Condo 200,000


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