Sarasota Foreclosures

Below are some foreclosure sales statistics for Sarasota and Manatee counties.

* 2,578 foreclosures sold in both counties since January 1, 2009

* Highest sales price - $2,025,000

* Lowest sales price - $3,695

* Average sales price - $126,684

* Median sales price - $90,000

* Average days on market - 98 days

* Median days on market - 60 days

* Currently there are 175 bank owned properties for sale in Sarasota county.

* Currently there are 140 bank owned properties for sale in Manatee county.

Visit my Sarasota foreclosures page to view properties for sale. It is updated daily!

Siesta Key Foreclosures

I receive a lot of emails and calls from people looking for Siesta Key foreclosures. There really aren't that many of them out there. Below are some statistics for the bank owned properties sold on Siesta Key. I know everyone wants to find that gorgeous Siesta Key beach front condo worth $800k for only $300k but it just does not happen. Banks do appraisals on their property and sell them near market value. Keep in mind the average bank owned properties on Siesta Key sold for 96% of list price. 

* Currently, there are 3 Siesta Key foreclosures for sale.

* 26 bank owned properties sold on Siesta Key since January 1, 2009.

* Highest sales price - $1,800,000

* Lowest sales price - $140,553

* Average sales price - $488,094

* Median sales price - $399,500

* The average sales price to list price was 96%

* 246 properties sold on Siesta Key since January 1, 2009. Bank owned properties represented only 11% of the sales.

Longboat Key Foreclosures

This is another place where people frequently look for foreclosures. The good news is that there were not many sales of Longboat Key foreclosures in 2009. There simply were not that many flashy investors over extending themselves and buying property on Longboat Key that generated a ton of foreclosures.

* Currently, there is only 1 bank owned property on Longboat Key listed for sale in the Sarasota MLS.

* 7 bank owned properties sold on Longboat Key since January 1, 2009.

* Highest sales price - $1,700,000

* Lowest sales price - $330,000

* Average sales price - $717,557

* Median sales price - $485,000

* The average sales price to list price was 88% 

* 273 properties sold on Siesta Key since January 1, 2009. Bank owned properties represented only 3% of the sales.

It is no surprise to me that there are not tons of foreclosures on Siesta Key and Longboat Key. The same story goes for Lido Key, Bird Key and Casey Key. The areas near the water tend to hold up better than other segments of the market. Also, we didn't have a huge number of speculators buying out there during the boom times because of the higher price hurdle. If you are looking to purchase on any of the barrier islands you should not ignore the non-bank owned properties. You can still find a great value from a traditional, realistic seller. Give us a call at 941.812.6272 if we can help you.