Southeast Florida Condo Stats on REO Bank Owned & Short Sale Percentages

Quote of the Week I’ve been curious how each city is doing when evaluating selected South Florida entities and their total Condo Inventory vs. Bank Owned (REO’s) and Short Sales. My attorney added to my curiosity so here it is below… These figures are derived from the MLS and Miami is still one of the biggest and baddest for foreclosures and short sales. The average of all selected cities below (bank owned) figure is 4.53% of total inventory. We’ll evaluate this again 1Q 2009 and see what directions & changes may have occurred.

CITY TOTAL CONDOS REO (BANK OWNED) SHORT SALE
Aventura 2060 40 – 2% 356 – 17%
Bal Harbour 260 1 – N/A 20 – 8%
Coral Gables 314 9 – 3% 36 – 11%
Davie 546 36 – 7% 178 – 33%
Doral 826 42 – 5% 454 – 55%
Eastern Shores 48 1 – N/A 8 – 17%
Fisher Island 111 0 – N/A 9 – 8%
Fort Lauderdale 2662 78 – 3% 408 – 15%
Hallandale 1399 37 – 3% 258 – 18%
Hialeah 898 75 – 8% 462 – 51%
Hollywood 1773 66 – 4% 450 – 25%
Kendall 57 2 – 4% 24 – 42%
Key Biscayne 314 1 – N/A 15 – 5%
Laudrdale by the Sea 260 6 – 2% 19 – 7%
Miami 7828 408 – 5% 2433 – 31%
Miami Beach 3928 88 – 2% 585 – 15%
Miami Shores 37 3 – 8% 7 – 19%
North Bay Village 328 19 – 6% 104 – 32%
Pembroke Pines 1201 90 – 7% 425 – 35%
Sunny Isles Beach 1530 30 – 2% 315 – 21%
Surfside 200 9 – 5% 28 – 14%
Weston 393 18 – 5% 174 – 44%
Wilton Manors 164 8 – 5% 48 – 29%

South Beach to Sunny Isles Real Estate Consultant, Micro Economist. If you’d like to receive the latest local real estate news via blog postings & updates, you can easily be notified by RSS feed (see upper left column) or by email above every time a new posting occurs. The new JADE Condos Sunny Isles.com is now available! Have a great week and call any time toll free 1.888.383.7326 or view new condos here.