The Anna Maria Island Sun Newspaper

Vol. 15 No. 45 - September 9, 2015

REAL ESTATE

Home building, closings up in July

 

Every time I say enough with the boring sales statistics I find that I’m not really bored with the number. So here we go again. Try and stay awake as you read this. Believe me, you’ll be happy you did.

I’m writing this column shortly after the stock market plunged over 500 points at the end of a down week with speculation that we haven’t hit bottom yet. Blame the Chinese, global warming, violence in the Middle East or your grandmother’s apple pie. The one thing you can’t blame is the real estate market. Nationally, July was a good month for both new home construction and re-sales.

U.S. home building ticked up in July to 2.1 percent from June and the highest since October of 2007. Economists are hoping the surge in construction of single-family homes is the latest sign of continued momentum in the housing market. As we know, new homes are an import ingredient in the health of the overall housing market, since many existing homeowners move up to new construction freeing up their properties to sell.

The state of Florida also is up compared to July of last year. Single family home closings are up 21.8 percent, the average sale price is up 4.2 percent, but the available inventory is down 2.2 percent. There are similar numbers for Florida condos – closed sales are up 13.9 percent, the average sale price is up 4.3 percent and the available inventory is down 2.0 percent.

And Manatee County continues to be in very positive territory except when it comes to available listings. Single- family home sales were up 13.8 percent from July of last year. The average sale price was up 13 percent from $262,220 to $296,181. The number of median days on the market was down 4.1 percent from 83 last year to 49 this year, and the average percent of list to sale price was up 1.9 percent, meaning that sales that closed in July of this year were getting 95.2 percent of list price. In addition, the number of active listings were down 8.6 percent resulting in only a 3.6 months’ supply of available inventory, down 19.4 percent from last year, Condos equally have done well with closed sales up 15.7 percent, average sale price up an impressive 26.3 percent to $212,125 and days on market down also an impressive 30.3 percent to 53.

The average percent of list price to sale price is 94.1 percent, up 1.7 percent, but active listings were up 6.6 percent. And finally the months’ supply of condos was also at a very low 3.9 months down 2.1 percent.

Florida, of course, continues to be a very popular place for retirees and vacation home buyers, but there is another big market opening up. New businesses and self-employed people are waking up to the fact that Florida has no state income tax and a business friendly environment. This puts the Florida housing market in a whole new light that can only have positive results.

If you’re sleeping, time to wake up. You’re at the end of my column. Even if you skipped some of the repetitive numbers, I hope you got the general idea that in spite of the insane stock market, real estate values keep trudging along nationally, statewide and in Manatee County. Our biggest problem is the lack of inventory, which is no small thing and could have a profound effect on future markets.

Real Estate Transactions
July 2015

Sponsored by Alan Galletto Island Real Estate

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

Anna Maria

07/31/15 540,000 500,000 515 South Dr. # A 2265 66x100 DUP
07/29/15 495,000 485,000 519 Villa Rosa Way 75x113 SFR
07/10/15 455,000 446,000 239 Lakeview Dr. 1152 2BR/2 BA Bank Owned SFR
07/06/15 550,000 515,000 242 Gladiolus St 832 2BR/1 BA None SFR
07/31/15 629,000 588,000 150 Crescent Dr. 1765 3 BR/2 BA None SFR
07/15/15 649,000 649,000 265 Gladiolus St 1601 2 BR/3 BA None SFR
07/28/15 2,499,000 2,200,000 830 S Bay Blvd A 3570 4 BR/4.5 BA None SFR

Bradenton Beach

07/02/15 369,900 340,000 2314 Ave.B # A 50 X 100 None Mix
07/02/15 369,900 340,000 2314 Ave.B # A & B 864 50x100 None DUP
07/17/15 775,000 700,000 2401 Ave.B 2820 50 X 100 None DUP
07/14/15 150,000 150,000 2315 Ave.C # 3 488 1 BR/1 BA None Condo
07/31/15 199,900 226,150 1325 Gulf N Dr. # 125 675 2 BR/1 BA Bank Owned Condo
07/23/15 319,000 305,000 1801 Gulf N Dr. # 270 1080 2 BR/2 BA None Condo
07/31/15 472,000 440,000 248 17th St # 248 1268 2 BR/2 BA None Condo
07/02/15 369,900 340,000 2314 Ave.B # A 864 2 BR/2 BA None SFR
07/21/15 389,900 350,000 1108 Bay N Dr. 1544 2 BR/2 BA None SFR
Sold Date List Price Sold Price Property Address SFUA Lot Size BR/BA Property Type
07/27/15 499,000 445,000 2110 Ave.A 1490 3 BR/2 BA None SFR
07/16/15 749,000 744,000 2302 Ave.B 2145 3 BR/2.5 BA None SFR
07/28/15 869,000 845,000 102 7th S St 1948 5 BR/4 BA None TH

Holmes Beach

07/30/15 449,000 425,000 221 85th St 1470 2 BR/2 BA None SFR
07/21/15 515,000 490,000 6250 Holmes Blvd # 72 1536 3 BR/2.5 BA None TH
07/27/15 472,500 502,000 210 76th St 981 2 BR/1 BA Bank Owned Villa
07/24/15 549,000 525,000 203 82nd St 1132 2 BR/2 BA None SFR
07/21/15 599,900 589,000 626 Foxworth Ln 2532 3 BR/2 BA None SFR
07/31/15 644,000 610,000 303 74th St # B 1340 4 BR/2.5 BA None SFR
07/15/15 669,000 640,000 518 77th St 2096 90x108 3 BR/3 BA None SFR
07/10/15 689,000 669,000 409 73rd St 1482 3 BR/2 BA None SFR
07/13/15 719,000 690,000 312 61st St # A 2212 3 BR/2.5 BA None SFR
07/31/15 689,000 690,000 3705 Gulf Dr. # A 1216 3 BR/2 BA None SFR
07/28/15 1,050,000 1,050,000 213 84th St 2193 4 BR/3 BA None SFR

Cortez

07/17/15 479,000 455,000 3905 Mariners Walk # 814 1840 3 BR/2 BA None Condo
07/09/15 595,000 580,000 3948 Mariners Way # 221 2393 3 BR/2.5 BA None Condo

 

 

Source: Mid Florida Multiple Listing Service


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