Thinking about a buying a home or condo on Lido Key? If so, the thought of finding a sweet deal in the way of a foreclosure or short sale sounds enticing. Let’s take a look at the sales data for distressed properties on Lido Key, Florida. For an update on the entire area check out this Sarasota foreclosures update. If you just want to view everything for sale then visit my Sarasota Florida real estate site.
Lido Key Homes and Condos For Sale
- 106 properties for sale
- 36 single family homes for sale
- 76 condos/townhouses/villas for sale
- Least expensive asking price – $143,900
- Most expensive asking price – $9,750,000
- Average asking price $1,613,445
- Median asking price – $790,000
Lido Key Foreclosures & Short Sales
- 5 distressed (REO & Short Sales) properties for sale - 4.7% of the total market
- 1 short sale in Key Tower South – Call me at 941.812.6272 for details
- 1 short sale in Lido Ambassador – Call me at 941.812.6272 for details
As you can see there are not many REO’s & short sales on Lido Key. It makes up for less than 5% of the entire market. If you are only looking at these types of properties you are ignoring over 95% of the market.
Lido Key Foreclosures and Short Sales Sold in 2010
- 78 properties sold so far in 2010 on Lido Key
- 54 condos sold
- 24 single family homes sold
- 2 short sales sold – 2.5% of the total sales
- 2 bank owned properties sold – 2.5% of the total sales
As you can see so far this year there have only been 4 distressed sales on Lido Key out of a total of 78 properties. That is 5% of the market. If you think that you will be able to buy one of these properties then you should probably reconsider.
Give Marc Rasmussen a call at 941.812.6272 to help you buy or sell in the Sarasota area. I have sold several properties on Lido Key and know the market well. It does not cost anymore to hire an expert.
