Marco Island home sales increase 30% over 2008 sales, 60% of all homes pending are foreclosures.

Home sales on Marco Island are strong. Condo sales are weaker this month, but pending sales have increased. The Average price of homes closed stronger and the price of condos halved. Pending sales have been driven by foreclosures. Real estate sales statistics for August 2009.

According the Marco Island Area Association of Realtors® (MIAAOR), Home sales last month on Marco Island are up 16% from last month and up 30% from August ’08. The average sale price is also up 40% from last year to $786K.  Condominiums sales are slowed from last month, down 35%. More dramatically though, the average sale price is down 55% to $308K from last August. 

The least expensive single family home on Marco Island is $179K and the most expensive is 1572 Shores Ct for $9.9M. The least expensive condo is $69K and the most expensive is the Madeira beachfront penthouse for $7.45M

There are 59 single family homes in foreclosure on Marco Island. 8.2% of all homes on the market. Of the 203 homes that have sold on Marco Island so far this year, 50 (24%) have been foreclosures and a further 84 homes are currently pending (Under contract) of which 51 (60%) are foreclosures.  

There are 49 condos in foreclosure on Marco Island, 4% of all condos on the market.  Of the 338 condos that have closed so far this year, 58 (17%) were foreclosures and a further 452 condos are pending of which, 116 (25%) are foreclosures.

Get the latest real estate market updates and foreclosures from http://foreclosure.onmarco.com

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