Anna Maria Island Market Report 4/30/13
Anna Maria Island sales for the past twelve-months is up 57 sales - a record pace of 420 over 363 properties sold during the same period last year. The inventory is at the lowest level in the past decade. High demand & low supply continue to push up prices of single-family homes & condos.
The seller’s advantage, with multiple offers, is becoming the norm. Interest rates are at historic lows & sales prices are slowly increasing. The time to buy is now, while the values are so attractive. Pended properties are at seasonal highs – indicating continued sales growth. Below are the current Island statistics:
- Real estate sales – Apr '13 @ 43 compared to Apr '12 @ 43
- Last 12 month sales – 420 compared to 363 last year.
- April ‘13 Sales distribution –Single Family @ 19, Condo @ 19, Duplex @ 3 & Lots @ 2
- Pended sales – 41 compared to 39 last month with 22 S/F, 12 Condo, 7 Duplex & 0 lots. 43 properties closed last month – meaning 41 more properties were put under contract during the past 30 days.
- Projected 2013 sales – Sales are significantly up over last year & will continue in that direction – based on the strong number of pended sales.
- Inventory – 346 unsold with 152 S/F, 117 Condos, 28 Duplexes & 49 Lots. Inventory has significantly dropped to 428, down from a high of almost 1,000 in 2006.
- Distressed Properties (short sales & bank owned) – Holding steady @ 10, with 3 S/F, 6 Condos, 1 Duplexes & 0 lots. AMI distressed sales year to date represent 8% of the sold inventory.
The absolute best investments continue to be luxury condo-hotel apartments, located 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.
David Teitelbaum & Liz Codola
Thank you for visiting www.AnnaMaria-RealEstate.com
P.S. Our 4 month Google Analytics report is attached.