The Anna Maria Island Sun Newspaper

Vol. 15 No. 42 - August 19, 2015

REAL ESTATE

Manatee County heat wave

 

Based on last week’s column, there is a national heat wave in progress this summer all around the country. The month of June marked the highest sales statistics for single-family homes since 2006, with the median sales price jumping 6.5 percent. The median sales price represents the midway point of all properties sold, half above, half below.

The state of Florida is also having a pretty hot summer with June’s median sale price for single-family homes up 10 percent. So where does that leave little Manatee County?

The June, Manatee County sales statistics remain healthy and going in a continued upward direction. Compared to June of last year, closed single-family homes were up 21.2 percent and new listings were up 15.4 percent. The median sale price was up 3.6 percent to $253,700, and the average sale price was up 5.2 percent to $307,404. Townhouses and condos closed even more properties with an increase of 33.5 percent, and new listings were also higher at 22.2 percent. The median sale price was up 4.9 percent to $155,000 but the average sale price was down 3 percent to $194,655 (statistics can be funny sometimes, so I wouldn’t make this more important than it is).

However, the really important numbers when analyzing real estate trends are the days on the market and the inventories. In June for the single-family market, the median days on the market was down 13.6 percent going from 66 days in June 2014 to 57 in June 2015. Likewise the active inventory was down 9.4 percent in June, and the number of month’s supply of inventory was down 19.2 percent, going from 3.7 months in June of this year compared to 4.6 percent of months last year.

Townhouse and condo inventories were a little different, which might explain the sale prices being slightly down in June. The active inventory was up 4.8 percent, and the monthly supply was down only 1.5 percent from 4 months this year compared to 4.1 last year, virtually no change at all. Median days on the market were down 5.5 percent, going from 55 days last year to 52 this year. Remember that a six-month supply of active inventory is considered a balanced market, and Manatee County is well below that level.

As a comparison, Florida’s single-family median days on the market were down 17.5 percent, going from 57 days last year to 47 days this year. And as a further comparison, Realtor.com recently reported on the markets around the country with the least number of days on the market. They analyzed the top 25 metro areas with the least number of days on the market being 24 days and the most number of days on the market at 44. None of the regions reported were in Florida, but certainly Florida’s June days on the market at 47 is getting real close.

We should probably be thankful that we’re a little out of the hot, hot real estate bubble, at least for the moment, which is keeping us way from the insane bidding wars that parts of the country are experiencing. However, with the average sale price for single-family homes over 94 percent of asking, we may join the bidding war wars sooner than we think.

We don’t typically talk too much about a good real estate market during Florida’s summer months, but this year it’s hot out there and not just on the beach.

Real Estate Transactions
June 2015

Sponsored by Alan Galletto Island Real Estate

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

Anna Maria

06/12/15 499,900 499,000 701 N Bay Blvd 847 2 Br/1 Ba SFR
06/30/15 659,900 640,000 805 N Bay Blvd 1480 2 Br/2 Ba SFR
06/26/15 725,000 700,000 307 Tarpon St 1512 2 Br/2 Ba SFR
06/15/15 799,999 795,000 607 N Bay Blvd 1396 3 Br/2 Ba SFR
06/19/15 839,500 810,000 107 Tern Dr 2131 75x100 3 Br/3 Ba SFR
06/08/15 869,000 815,000 711 Gladiolus St 2025 50x114 3 Br/2.5 Ba SFR
06/19/15 949,000 845,000 235 Oak Ave 2942 125x100 4 Br/3 Ba SFR
06/12/15 975,000 975,000 117 Park Ave 1549 3 Br/2 Ba SFR
06/22/15 2,100,000 1,825,000 104 Park Ave 3762 75x100 5 Br/4 Ba SFR
06/19/15 585,000 525,000 112 Oak Ave# 112 1212 3 Br/2 Ba Condo
06/26/15 499,000 430,000 770 Jacaranda Rd 1032 90x115x43x105 Duplex
06/15/15 550,000 545,000 514 Villa Rosa Way 50x91x65x55x103 Vac

Bradenton Beach

06/08/15 154,900 145,000 117 7th St N #15 594 1 Br/1 Ba Condo
06/24/15 189,000 167,500 117 7th St St #27 594 1 Br/1 Ba Condo
06/03/15 329,000 319,000 501 Gulf Dr N #109 1128 2 Br/2 Ba Condo
06/22/15 449,900 435,000 238 17th St #32 1268 2 Br/2 Ba Condo
06/30/15 550,000 528,000 1900 Gulf Dr N #12 922 2 Br/2 Ba Condo

Cortez

06/22/15 975,000 940,000 12401 Baypointe Ter 4710 95x192x90x203 6Br/4 Ba/2 Half Ba SFR
06/04/15 1,195,500 1,070,000 4012 Commodore Blvd 3754 4Br/4.5 Ba SFR
06/09/15 460,000 445,000 12510 Harbour Land 1912 2 Br/2 Ba Townhouse

Holmes Beach

06/26/15 329,000 310,000 424 62nd St 901 2 Br/1 Ba SFR
06/18/15 499,900 450,000 504 68th St 1158 75x102 2 Br/2 Ba SFR
06/30/15 509,900 495,000 611 Emerald Lane 1728 2 Br/2 Ba SFR
06/01/15 619,000 600,500 215 N Harbor Dr 1351 2 Br/2 Ba SFR
06/25/15 615,000 615,000 646 Key Royale Dr 1693 2 Br/2 Ba SFR
06/15/15 829,000 640,000 317 58th St # East 1254 4 Br/3 Ba SFR
06/29/15 739,000 700,000 530 Key Royale Dr 2098 100x140 4 Br/3 Ba SFR
06/26/15 744,900 720,000 5909 Flotilla Dr 2780 4 Br/3 Ba SFR
06/30/15 895,000 875,000 510 59th St 2390 1726x90x120.14x1002 3 Br/3 Ba SFR
06/02/15 1,449,000 1,300,000 119 Neptune Lane 3109 7 Br/5.5 Ba SFR
06/30/15 284,000 267,500 3705 E Bay Dr # 213 1146 2 Br/2 Ba Condo
06/30/15 298,000 285,000 3801 E Bay Dr # 104 1121 2 Br/2 Ba Condo
06/24/15 397,500 375,000 5608 Gulf Dr # 103 1092 2 Br/2 Ba Condo
06/02/15 419,900 397,500 5608 Gulf Dr # 105 1092 2 Br/2 Ba Condo
06/30/15 435,000 435,000 7100 Gulf Dr # 203 1081 2 Br/2 Ba Condo
06/26/15 589,900 580,000 4808 Gulf Dr # A 2017 90x100 3 Br/2.5 Ba Condo, REO/Bank Owned
06/25/15 849,000 800000 6700 Gulf Dr # 14 1513 3 Br/2 Ba Condo
06/30/15 525,000 519995 309 66th St # A 1536 3 Br/2.5 Ba Townhuse
06/02/15 449,000 425000 204 2nd N St # A & B 2464 50x100 Duplex

Source: Mid Florida Multiple Listing Service


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