Distressed Siesta Key Condos

Looking for a fabulous Siesta Key condo to spend the winters, weekends or for your retirement years? There may be no better time to explore the Siesta Key condo market. Below are 6 condominiums that are either classified as a short sale or bank owned property:

• 6300 Midnight Pass Rd, Sarasota - Crystal Sands
• 5900 Midnight Pass Rd, Sarasota - Sarasota Surf and Racquet
• 6157 Midnight Pass Rd, Sarasota - Bay Oaks
• 5683 Midnight Pass Rd, Sarasota - Sunrise Cove
• 8900 Blind Pass Rd, Sarasota - Fishermans Cove
• 6312 Midnight Pass Rd, Sarasota - Crescent Arms

Siesta Key Condo History

Below is an 11 year chart of Siesta Key condos for sale, sold and under contract. As you can see the inventory levels are hovering around 250 condos. There are fewer condos for sale now versus late 2002 and early 2003 before the real estate boom. 

So far this year there have 210 condo sales on Siesta Key. Below are sales statistics. 

January 1, 2012 - July 18, 2012

Just for kicks lets compare sales data to the same time period in 2003. There were 241 condos sold in this same time period in 2003. 

January 1, 2003 - July 18, 2003

Interesting Notes:

• The average sales prices for the two time periods are very close - $496,713 (2003) and $489,548 (2012). 
• 31 more units sold in 2003
• Average days to contract were less in 2003 - market was more liquid or sellers were more realistic. 

Please contact us at 941.822.0708 to help you buy or sell in the Sarasota, Florida area.