Anna Maria Island sales are continuing at the record pace of 2010 with 317 properties sold. The inventory remains down – just above normal levels. Pended properties are at seasonal highs – indicating continued sales growth. Demand is at an all-time high, with inventories at normal levels. Below are the current statistics:
Real estate sales – Jan’11 vs Jan’10: 16 vs 11 last year
Last 12 month sales – 322 vs 233 last year.
January ‘11 Sales distribution – Single Family @ 8, Condo @ 6, Duplex @ 1 & Lots @ 1.
Pended sales – 62 vs 38 last month with 31 S/F. 20 Condo, 4 Duples & 7 lots. (with 16 properties closed last month, means 40 more properties were put under contract during the past 30 days)
Projected 2010 sales – 300 vs 250 last year. (Sales are significantly up over last year & will continue in that direction – based on the strong number of pended sales)
Inventory – 517 unsold with 257 S/F, 186 Condos, 29 Duplexes & 45 Lots. Inventory has been holding steady at 517, coming down from a high of almost 1,000 in 2006, to the 500s in 2010.
Distressed Properties (short sales & bank owned – Holding steady @ 37, with 14 S/F, 19 Condos, 4 Duplexes & 0 lots. AMI distressed sales to date represent 7% of the available inventory.
The absolute best investments continue to be luxury condominium apartments at Tortuga Inn Beach Resort & TradeWinds Resort on 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
