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Siesta Key for Under $400,000?

The economy makes acquisition of affordable condos on Siesta Key possible.

It is hard not to fall in love with Siesta Key.  

The inspiring white sand of Siesta Beach, the many shades of the water and the atmosphere in Siesta Village entice people to stay. Dreams become a reality without wings until they start looking at property prices near this nationally renowned beach.   

Currently, there are 366 properties available on Siesta Key for under $400,000. The majority are condominiums, with only 1 single famiy home and 7 villas available at less than $400,000 list.  

The average property in this price range is a 2 bedroom, 2 bath condominium of approximately 1,000 square feet. Almost all are near one of the Key's fine beaches, though distance to the Village can vary.  

In the past 30 days, the average sold price was $283 per square foot, or 91% of the listing price.  Twelve months ago, the average was $239 per square foot (sold) of a similar sized property.  

Waiting for a foreclosure?  The wait could be fruitless.  

The number of distressed sales is lower than on the mainland, standing at only 4% across all price ranges on the Key, and the total number of judgments filed against properties in the 34242 zip code stands at a tiny 1%.

George Miller July 03, 2012 at 07:27 PM
Great observation; although there are still good values, the bottom of the market is certainly behind us here on Siesta
xigua November 13, 2012 at 09:19 AM
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