Every single person I know loves to ask me how the market’s doing, and I love to have answers that are based more on fact than fiction. In fact ask me today how the market is doing, and I’ve got only one answer: compared to the entire state of Florida, Anna Maria Island is doing great! Even better than Manatee county on the whole, and here’s how I know:
A recent report issued by the Florida Association of Realtors shows that home sales in Florida for the first half of 2008 were down 5% compared to the same period last year. Condo sales were off a full 10%. The report also stated that the median price at which single family homes sold throughout the state was $203,300, while the median price for a condo was $181,800. Compare that information to sales data on Anna Maria and our picture looks much better: Island single family home sales are up by 12% while condo sales are up by 11%, and although the median sales price of condos for the first half of this year dropped 12% to $399,000, the median price of single family houses rose almost 10% to $622,500. Not even Manatee County can claim the same healthy picture, where the median sales price of single family homes—still ahead of the State average–is $246,000.
I like figures that produce confidence in a market, and these figures paint a very confident story. Manatee County is doing well, but the Island is doing even better. And that’s the kind of market report I like to convey.