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.

Thinking about buying a condo on Lido Key? Here is a market update for Lido Key condos for sale:

• 101 condos currently for sale
• Lowest priced condo – $169,900
• Highest priced condo – $6,985,000 – Orchid Beach Club
• 7 Lido Key condos currently pending and waiting to close

Lido Key Condos Sold in 2009

• 36 Lido Key condos sold so far in 2009
• Highest sales price – $3,050,000 – Ritz Carlton Beach Residences
• Lowest sales price  – $196,322
• Average sales price – $920,466
• Median sales price – $530,000

Visit my Sarasota MLS if you want to search for Lido Key condos for sale.

Lido Key Condos Sold in August 2009

• 7 Lido Key condos sold in August of 2009
• Lowest sales price – $280,000
• Highest sales price – $2,350,000 – Orchid Beach Club
• Average sales price – $855,428
• Median sales price – $485,000

If I can help you buy or sell Sarasota real estate call me at 941.812.6272.