The Anna Maria Island Sun Newspaper

Vol. 14 No. 28 - May 7, 2014

REAL ESTATE

Florida real estate continues comeback

 

The definition of insanity is continuing to do the same thing over and over again. So why do we torture ourselves every month and look at the real estate performance statistics? I guess we really are insane. This month, though, the news continues to be good, at least for Florida.

Nationally, economists have been disappointed by a string of weaker than expected home sales reports. Sales of existing homes dropped in March all over the country, but especially in areas that were hit by the extremely cold winter weather. Sales of previously owned homes were down 7.5 percent from a year earlier, the fifth straight month in which sales have fallen below the year-earlier level.

As far as sale prices are concerned, even though the market has leveled off, traditional sellers have been slow to list their homes. Because of this, inventories are low and pushing prices up, which is good for sellers, but bad for buyers. In addition, the National Association of Realtors indicated it will probably lower its sales forecast of existing homes.

Its economists are expecting a slower than anticipated housing sector blamed partly on incomes that have not kept pace with house price increases and an uptick in the 30-year, fixed mortgage rates. Although mortgage rates are still on average below 4.5 percent the increase does affect purchasing power.

The weather also is being blamed for the decline in new home sales dropping 14.5 percent from February to March of this year. Harsh winter weather closed down construction sites, affecting both the housing and labor markets also having an affect on the continuation of the low inventory.

Here in Florida, we’re not affected by the weather or anything else it appears, since our sale prices keep going up according to the Manatee Associations of Realtors: Median single family home sales increased from $200,000 to $225,950 from last March 13.4 percent. The average single family sale price increased 19.6 percent from $249,877 to $298,967.

Pending inventory was down 23.7 percent from 1133 to 865. Townhouse and Condo sales also were up, but not nearly as much as single family. The median sale price was up 2 percent from $127,000 to $129,500 and the average increased 7.3 percent from $155,609 to $166,917. Pending inventory was also down 9 percent from 377 to 343.

Statewide, the numbers were similar just not as impressive, with median single family sales up 7.1 percent from $161,500 to $173,000 and average sales increasing 6.3 percent from $222,827 to $260,145. Pending inventory also was down by 12.3 percent from 53,755 to 47,169. Median townhouse and condo sales statewide were up 16.7 percent from $120,000 to 140,000, and average sales were up 16.1 percent from $196,568 to $228,167. Pending inventory was also down 18.4 percent from 26,967 to 22,005.

Another interesting number is the decline in cash sales, which have been very strong. Statewide cash sales are down between 6.5 percent and 13.1 percent, probably because of fewer investors in the market place picking up the smaller pool of foreclosures.

I think I’m just a little insane since I don’t actually look at the stats on the Manatee Association of Realtors website every month. But so far, those months when I do peruse the numbers and report them to you, I’m generally happy to do so. A nice by-product of this job.

Real Estate Transactions
Real estate transfers as of October 1-31, 2013
Sponsored by Alan Galletto Island Real Estate

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

Anna Maria

01/03/2014 1,400,000 1,400,000 107 Beach Ave. 2789 150x100 4 Br/3 Ba SFR
01/06/2014 895,000 800,000 806 Gladiolus St. 2250 69x100 3 Br/3 Ba SFR
01/06/2014 317,000 470,549 205 Elm Ave. 1203 52x110 2 Br/2 Ba SFR Reo
01/06/2014 749,000 683,000 517 Magnolia Ave. 2219 75x115 4 Br/2.5 Ba SFR
01/10/2014 989,000 910,000 213 Spruce Ave. 937 105x100 2 Br/2 Ba SFR
01/22/2014 1,495,000 1,450,000 203 Spruce Ave. 696 2 Br/1 Ba SFR
01/24/2014 850,000 849,900 113 Gull Dr. 2447 91x100 3 Br/2 Ba SFR
01/29/2014 522,000 465,000 8806 Gulf Dr. 936 50x100 2 Br/2 Ba SFR
01/30/2014 510,000 502,000 524 Blue Heron Dr. 1653 3 Br/2 Ba SFR
01/30/2014 1,345,000 1,325,000 214 Spring Ave. 3189 52x145 6 Br/5.5 Ba SFR

Bradenton Beach

01/31/2014 425,000 385,000 252 17th St # 252 1268 2 Br/2 Ba Condo
01/02/2014 289,000 282,000 1801 Gulf Dr N # 238 1080 2 Br/2 Ba Condo
01/31/2014 635,000 617,500 2300 Avenue B 2832 50x100 4 Br/4 Ba SFR
01/16/2014 259,900 259,900 2515 Avenue C # A 1584 50x100 Inc.
01/31/2014 635,000 617,500 2300 Avenue B 2832 50x100 Inc.
01/10/2014 297,777 290,000 200 22nd St . 50x100 Vac.

Cortez

01/13/2014 439,000 400,000 4207 126th St. W. 3412 100x100 4 Br/3 Ba SFR

Holmes Beach

01/02/2014 330,000 315,000 5808 Gulf Dr. # 206 912 2 Br/2 Ba Condo
01/08/2014 375,000 330,000 6250 Holmes Blvd. # 65 1206 3 Br/2 Ba Condo
01/14/2014 392,900 366,250 6400 Flotilla Dr. # 96 985 2 Br/2 Ba Condo
01/16/2014 359,900 347,000 600 Manatee Ave. # 136 1179 2 Br/2 Ba Condo
01/23/2014 318,000 283,000 201 35th St .# 5 630 1 Br/1 Ba Condo
01/27/2014 279,000 265,000 3801 E Bay Dr. # 108 1121 2 Br/2 Ba Condo
01/27/2014 379,000 370,000 6200 Flotilla Dr. # 262 1266 2 Br/2 Ba Condo
01/29/2014 219,900 208,000 3000 Gulf Dr. # 6 756 1 Br/1 Ba Condo
01/03/2014 689,000 671,750 117 51st St. 1536 3 Br/2.5 Ba SFR
01/09/2014 565,000 535,000 502 83rd St. 1728 3 Br/3 Ba SFR
01/10/2014 1,049,000 950,000 509 68th St. 2546 80x102 3 Br/2 Ba SFR
01/10/2014 896,000 725,000 313 61st St. 2374 4 Br/3.5 Ba SFR
01/10/2014 799,000 772,000 213 65th St. 2184 3 Br/2.5 Ba SFR
01/23/2014 399,000 390,000 2819 Avenue B 2332 3 Br/2 Ba SFR
01/24/2014 450,000 450,000 113 31st St. 1682 50x105 3 Br/2 Ba SFR, Reo
01/24/2014 350,000 325,000 502 Bayview Dr. 1214 75x120 3 Br/2 Ba SFR
01/29/2014 598,000 565,000 5606 Holmes Blvd. 1040 3 Br/2 Ba SFR
01/29/2014 775,000 775,000 4118 5th Ave. 2786 6 Br/3.5 Ba SFR
01/31/2014 974,900 907,930 637 Key Royale Dr. 2422 100x151 4 Br/3 Ba SFR
01/13/2014 339,900 275,000 4501 Gulf Dr. # A 1325 1554x800 Inc.
01/21/2014 500,000 450,000 212 Haverkos Ct. 108x110 Vac.

Source: Manatee County Property Appraiser’s Office


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