Many people love Anna Maria Island and come back, again and again, to spend their vacation on our beautiful beaches. Often those visitors decide they want to buy a home on the island, some hoping to find a vacation rental that will help pay for itself, and others to find a permanent home or family vacation property. There is a segment of those people who absolutely love Anna Maria City, on the island’s northern end, so much that it is the only place they’ll consider. Often, those people are a bit shell-shocked when they realize what buying in Anna Maria means.
Buying on Anna Maria Island has become more expensive, and the last 2 years have seen an annual increase of approximately 14 percent per year. I don’t foresee that changing anytime soon, and while you can still buy a 2 bedroom condo on AMI under $400,000, the “steals” we saw after the Great Recession just aren’t out there, and Anna Maria City has the highest entry price tag. Here are a few properties on the market now that will give you insight into buying in Anna Maria:
- The least expensive property in the city: This home on Gladiolus Avenue is as low as you can go and enter the market in Anna Maria, listed at $559,000. It is an older, ground level ranch block house that was built in 1968. It is a 2 bedroom, 1 bathroom and it needs a total renovation. It is possible that the single car garage could be turned into a master suite. The air conditioning unit is only a couple of years ago, and it appears that the roof is as well (these are the things you determine for certain during inspection). The yard is massive, which is common in Anna Maria City. With a little imagination and a couple hundred thousand dollars, I believe this could be turned into a million dollar home. There are challenges with FEMA regulations around renovating a ground floor home, so you need the services of a FEMA knowledgeable contractor. (I can help connect you to one if you’re interested).
- Condominiums in Anna Maria: Anna Maria does not have a lot of condo options. There is a charming one on Mangrove Avenue that is absolutely adorable. It is a 2 bedroom, 2 bathroom in a darling little cottage complex and it shares the pool and other amenities. It is a profitable rental, totally 880 square feet and listed at $629,000.The only other condo in Anna Maria City is a stunning unit above the shops on Pine Avenue. It is a 3 bedroom, 2 bathroom with high vaulted ceilings and beautiful decor, including 100-year-old wood floors. It has a charming lagoon pool that is very private. The location is fantastic, and although it hasn’t been used as a vacation rental I have little doubt that it would be a successful one with the right management company and marketing. It is 2,000 square feet and listed at $799,000.
- Getting close to the beach. You don’t need me to tell you that the closer you get to the water, the higher the price. Anything on a Gulf side beach block will definitely be over $1million. This home on S Bay Blvd is a good example of what you’re looking at when the home is across the street from the bay. It is a 3 bedroom, 3 bathroom with an open floor plan and a total of 2,030 square feet listed at $899,000. If you want gulf views, this luxury home on North Shore Drive with views of the Gulf is a 5 bedroom, 4.5 bathroom with 4,372 square feet for just under $5million. It is currently the most expensive property in Anna Maria. There are less expensive homes with Gulf views, but you can expect to pay seven figures for anything on the beach or steps from it.
Anna Maria City is a beautiful part of the island, and many believe the expansive beach is the finest on the island. It is quieter, with fewer shops and restaurants in a concentrated area. If you want to know more about buying in Anna Maria or anywhere else on the island or nearby, I’d love to help. Email me or call my cell at 570-878-6098.