Anna Maria is celebrating 100 years of providing exquisite beaches and aqua water to beachgoers and visitors. The celebration started on Memorial Day and will probably go on for several months and rightly so since the Island is something to be celebrated.
Down through the years when I interviewed new business owners or friends who moved to Anna Maria Island, I always asked how they found it. Many of them came as children to visit grandparents and always vowed to return. One drove over the Manatee Avenue bridge because she was early to visit a relative in Bradenton and couldn’t believe what she found, buying a Gulf-front piece of property the same day on a credit card. And one of my favorite stories was when a couple on vacation in their RV drove over the Cortez Bridge and turned right instead of left. They too bought a home the same day and opened a business.
My personal story happened in 1995 when I was visiting a friend in Bradenton and was taken to Anna Maria for dinner. That was the first of many visits to the Island, including the one that sent us home to sell our house. In January of 1997, my husband and I rented a beach house on the Gulf side of North Shore Drive. It turned out to be one of the best vacations I ever had and I knew then this is where I wanted to be.
To say Anna Maria Island has changed since those years would be a vast understatement and the thing that has changed the most is real estate construction and values. May sales statistics released by the Realtor Association of Sarasota and Manatee is showing our market is still moving forward.
Single-family closed properties were up 17.2% compared to May of last year. The median sale price for single-family homes was down 6.4% to $515,000 and the average selling price for single-family properties was also down by 4.1% to $686,015. The median time to contract was 32 days, compared to six days last year. Pending inventory was up by 31.8% and the month’s supply of available properties was 2.7 months, compared to last year at 1.2 months.
Condo sales were up 5% when compared to May of last year. The median sale price was up 3.4% to $382,645 and the average sale price was also up by 37.3% to $606,255. The median time to contract was 37 days, compared to 6 days last year, and pending inventory was up 8.9%. The month’s supply of available properties was 3.4 months, compared to one month last year.
Condo sales had the edge this month in both sales and selling price, which in this market could change in a heartbeat. That said, the market is starting to settle down, as stated by the press release issued by the Realtor Association.
“Sarasota-Manatee housing market begins to stabilize but remains a seller’s market,” the press release said.
The summer months have always been the slow time in Island real estate, but don’t bet on that to continue when we’re in a seller’s market.
Anna Maria Island is so much more than its beaches; it’s a lifestyle I fear is slowly eroding just like the beach sand. If there is anything that can be done to slow this progression, I don’t know what it is. I only hope that our little paradise isn’t lost in the name of progress.
