Manatee County Condo Sales Continue to Grow
During 2011, there were 1242 condominium sales in Manatee County. That was the second highest year for sales in the past 8. Only in 2005 were more condominiums sold (when 1,539 sold).
Inventory levels continue to decline as well. At the end of December 2011, there were only 954 condominium residences listed for sale in Manatee County. That is about 25% fewer than at the end of December 2010.
West Bradenton (ZIP codes 34210 and 34209) sales account for about one third of all condominium sales in the county. Sales performance in West Bradenton mirrors the county – 2011 sales the second largest in the past 8 years only eclipsed by 2005. Similarly, inventory levels are down 25% from December 2010 to December 2011.
On the surface, it would appear that 2011 was a poor year for condominium sales in Lakewood Ranch. During 2011, only 93 condominiums were sold. That is the third worst year since 2004. However the decline in sales is due to the erosion in inventory. There have been very few condominiums listed for sale in Lakewood Ranch throughout 2011. Unsold inventory ended the year at just 33 residences compared to 57 at the end of 2010. At no time during the last 9 months of 2011 did inventory levels ever rise above 40.
Anna Maria Island tended to follow the county wide sales trend with sales besting every year in the past 8 except 2005. Inventory, however, has not been reduced as dramatically. At the end of 2011, there were 149 condominiums listed for sale on Anna Maria Island. At the end of 2010, that figure was 179 for a reduction of about 17%, much less than the county average.