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

For more information on Marco Island real estate, please visit www.onmarco.com or call 239-777-2479 or email declarkteam@onmarco.com