The Anna Maria Island Sun Newspaper

Vol. 14 No. 25 - April 16, 2014

REAL ESTATE

More million dollar news

 

Last week we talked about selling high end properties and the popularity of auctions as an alternative way to sell these luxury properties. This week we’re going to take another look at the increase in million dollar listings, not only in Florida as we have previously reported, but also around the country.

Call me crazy, but one afternoon as I was waiting for yet another set of houseguests, I started thinking again about the startling increase in $1 million and over home listings. So I decided to look at all of Manatee County, not just Anna Maria and the west side of the county.

I used Realtor.com for my research, which represents pretty much every property listed in the county’s multiple listing service, and sorted by zip code and $1 million or over. The total number for Manatee County properties listed at $1 million or over was 214. This does not include any of Longboat Key which as you know is split between Manatee and Sarasota counties. However, on Longboat there are 151 properties currently listed at or over a million dollars.

This was actually quite an interesting little exercise, and although the results were predictable, it gave me a real appreciation for Manatee County as a whole. The last time I updated my $1 million and over numbers for the three cities on Anna Maria, there were 72, which represented a 30 percent increase in seven months. That means there were approximately 142, $1 million and over listings in other parts of Manatee County. Most of the high end properties were of course on Anna Maria, northwest Bradenton, along Riverview Blvd. and in Lakewood Ranch.

According to Trulia, nationwide 4.6 percent of homes are priced at $1 million and above. However, some metro areas have a much higher percentage than that. The top two areas in the country that have the most $1 million and over property listings are San Francisco, at 43.5 percent of their listings, and Fairfield County, Conn. at 29.7 percent. Only 1 percent of the total United States home sales were comprised of $1 million and over during the last decade per Trulia.

As expected, regions along both coasts have more $1 million dollar properties than in the Midwest and South. After San Francisco and Fairfield County, the other top regions in the country with the most $1 million dollar and above listings are: San Jose, Calif., 25.7 percent; Orange County, Calif., 24.4 percent; Ventura County, Calif., 21.5 percent; New York City, 20.8 percent; Long Island, N. Y., 20.5 percent; Honolulu, Hawaii, 19.8 percent; Los Angeles, Calif., 18.4 percent; and San Diego, Calif., 18 percent.

The least number of million dollar listings according to Trulia are in the following metro areas: Springfield, Mass., 5 percent; Rochester, N.Y., 4 percent;Toledo, Ohio, 4 percent; Dayton, Ohio, 3 percent; and El Paso, Texas 3 percent.

The other interesting statistic that turned up in Trulia’s research is that some of the metro areas with the highest number of million dollar listings have properties with the least amount of square footage. For example, in San Francisco, the city with the highest share of million dollar properties, the median square footage reported was 1,774 as opposed to El Paso, Texas, with the smallest share of million dollar properties where the median square footage was 6,908.

I guess there are two common threads that run through all of these numbers. One is that there are a lot more million dollar properties available in the country as a whole and certainly on Anna Maria than ever before and that the coastal regions in the country remain the most valuable.

So crazy or not, I love sifting through data like this, which just goes to reconfirm that real estate continues to be on the upswing, and coastal Anna Maria Island is directly in the cross hairs of this good news.

Real Estate Transactions
Real estate transfers as of October 1-31, 2013
Sponsored by Alan Galletto Island Real Estate

Sold Date | List Price | Sold Price | Address | Provision | Property Style

Anna Maria

01/03/2014 1,400,000 1,400,000 107 Beach Ave. 2789 150x100 4 Br/3 Ba SFR
01/06/2014 895,000 800,000 806 Gladiolus St. 2250 69x100 3 Br/3 Ba SFR
01/06/2014 317,000 470,549 205 Elm Ave. 1203 52x110 2 Br/2 Ba SFR Reo
01/06/2014 749,000 683,000 517 Magnolia Ave. 2219 75x115 4 Br/2.5 Ba SFR
01/10/2014 989,000 910,000 213 Spruce Ave. 937 105x100 2 Br/2 Ba SFR
01/22/2014 1,495,000 1,450,000 203 Spruce Ave. 696 2 Br/1 Ba SFR
01/24/2014 850,000 849,900 113 Gull Dr. 2447 91x100 3 Br/2 Ba SFR
01/29/2014 522,000 465,000 8806 Gulf Dr. 936 50x100 2 Br/2 Ba SFR
01/30/2014 510,000 502,000 524 Blue Heron Dr. 1653 3 Br/2 Ba SFR
01/30/2014 1,345,000 1,325,000 214 Spring Ave. 3189 52x145 6 Br/5.5 Ba SFR

Bradenton Beach

01/31/2014 425,000 385,000 252 17th St # 252 1268 2 Br/2 Ba Condo
01/02/2014 289,000 282,000 1801 Gulf Dr N # 238 1080 2 Br/2 Ba Condo
01/31/2014 635,000 617,500 2300 Avenue B 2832 50x100 4 Br/4 Ba SFR
01/16/2014 259,900 259,900 2515 Avenue C # A 1584 50x100 Inc.
01/31/2014 635,000 617,500 2300 Avenue B 2832 50x100 Inc.
01/10/2014 297,777 290,000 200 22nd St . 50x100 Vac.

Cortez

01/13/2014 439,000 400,000 4207 126th St. W. 3412 100x100 4 Br/3 Ba SFR

Holmes Beach

01/02/2014 330,000 315,000 5808 Gulf Dr. # 206 912 2 Br/2 Ba Condo
01/08/2014 375,000 330,000 6250 Holmes Blvd. # 65 1206 3 Br/2 Ba Condo
01/14/2014 392,900 366,250 6400 Flotilla Dr. # 96 985 2 Br/2 Ba Condo
01/16/2014 359,900 347,000 600 Manatee Ave. # 136 1179 2 Br/2 Ba Condo
01/23/2014 318,000 283,000 201 35th St .# 5 630 1 Br/1 Ba Condo
01/27/2014 279,000 265,000 3801 E Bay Dr. # 108 1121 2 Br/2 Ba Condo
01/27/2014 379,000 370,000 6200 Flotilla Dr. # 262 1266 2 Br/2 Ba Condo
01/29/2014 219,900 208,000 3000 Gulf Dr. # 6 756 1 Br/1 Ba Condo
01/03/2014 689,000 671,750 117 51st St. 1536 3 Br/2.5 Ba SFR
01/09/2014 565,000 535,000 502 83rd St. 1728 3 Br/3 Ba SFR
01/10/2014 1,049,000 950,000 509 68th St. 2546 80x102 3 Br/2 Ba SFR
01/10/2014 896,000 725,000 313 61st St. 2374 4 Br/3.5 Ba SFR
01/10/2014 799,000 772,000 213 65th St. 2184 3 Br/2.5 Ba SFR
01/23/2014 399,000 390,000 2819 Avenue B 2332 3 Br/2 Ba SFR
01/24/2014 450,000 450,000 113 31st St. 1682 50x105 3 Br/2 Ba SFR, Reo
01/24/2014 350,000 325,000 502 Bayview Dr. 1214 75x120 3 Br/2 Ba SFR
01/29/2014 598,000 565,000 5606 Holmes Blvd. 1040 3 Br/2 Ba SFR
01/29/2014 775,000 775,000 4118 5th Ave. 2786 6 Br/3.5 Ba SFR
01/31/2014 974,900 907,930 637 Key Royale Dr. 2422 100x151 4 Br/3 Ba SFR
01/13/2014 339,900 275,000 4501 Gulf Dr. # A 1325 1554x800 Inc.
01/21/2014 500,000 450,000 212 Haverkos Ct. 108x110 Vac.

Source: Manatee County Property Appraiser’s Office


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