As we all know, real estate prices have been steadily dropping and making homes much more affordable than they were two years ago. I’m now telling my customers to consider buying property on the water, be it Gulf, bay, or canal front, where sales in the last year have gone as low as $292,000 for a two-bedroom/one-bath condo on a canal. An even better reason to buy on the water is that the average waterfront property sells at a much higher price than any other style of residence: $758,500 on the Island and $695,000 on the mainland for the last 12 months, compared to $280,000 for the average property sale of non-waterfront in Manatee County.
Tomorrow, TeamDuncan will be hosting seven choice waterfront open houses on the Island between 11 and 1:00: two condos on the Gulf; two condos on the Bay, two single family homes on canals and one Gulf front beach cottage. Not only do these make excellent investments with good income potential, but they are priced in keeping with comparable sales averages of the last 12 months, namely:
• $1,025,000 for 2100 Sq. Ft. on the Gulf
• $776,000 for 2200 Sq. Ft. on the Bay
• $651,000 for 1900 Sq. Ft. on a canal
Six of our open houses are featured in our Anna Maria Island Sun Ad; the seventh is at 102 68th St. in Holmes Beach. We’ll be waiting!