Anna Maria Island Market Report 01/01/12

Anna Maria Island twelve-month sales are continuing at a record pace of 354 over 323 properties sold in 2010. The inventory remains down – at a level where the buyer/seller advantage is neutral. Pended properties are at seasonal highs – indicating continued sales growth. Demand is at an all-time high. Below are the current Island statistics:

• Real estate sales – Dec’11 @ 29 compared to Dec’10 @ 37
• Last 12 month sales – 354 compared to 323 last year.
• Dec ‘11 Sales distribution – Single Family @ 19, Condo @ 16, Duplex @ 1 & Lots @ 1.
• Pended sales – 20 compared to 22 last month with 4 S/F, 9 Condo, 6 Duplex & 1 lots. 29 properties closed last month – meaning 20 more properties were put under contract during the past 30 days.
• Projected 2011 sales – Sales are significantly up over last year & will continue in that direction – based on the strong number of pended sales
• Inventory – 430 unsold with 185 S/F, 165 Condos, 31 Duplexes & 49 Lots. Inventory has been holding steady at 430, coming down from a high of almost 1,000 in 2006.
• Distressed Properties (short sales & bank owned) – Holding steady @ 57, with 15 S/F, 33 Condos, 6 Duplexes & 3 lots. AMI distressed sales year to date represent 16% of the sold inventory.

The absolute best investments continue to be luxury condominium apartments at Tortuga Inn Beach Resort & Tradewinds Resort in Bradenton Beach. These cash positive rental apartments are not going to last at prices 50% below their 2004 sales prices.

If you’re planning on buying a property in the next year, now is the time to buy – while these great values are available.

Sincerely,
David Teitelbaum
Island Real Estate of Anna Maria, Inc.