Miami Beach Condo REO (Bank Owned) vs. Short Sale Inventory Q1 2009

Miami Dade Beaches mapIn researching Miami Beach condo inventory Q109

including the Dade County entities of South Beach, Miami Beach, North Bay Village, Surfside, Bal Harbour and Sunny Isles Beach we have an inventory on March 29th 2009 at 6,073 total condos.

Out of those, how many would you guess are REO (Real Estate Bank Owned)?….  only 109 condos along the Dade County beaches or 2%. How many are short sales…? Miami Dade beaches short sales reflect 1,131 or 19% of total condo inventory. These figures are derived from the South East Florida MLS (Multiple Listing Service).

MLS STATS show the Average REO (Real Estate Owned) List price at $294,389 ~ Ave. per square foot cost at $226PSF “asking” and average square footage at 1,072 SF.


I assure you I know local inventory and relay the very best… {REO Miami Beach Bank Owned Condos Here} Click on any photo to enlarge. Feel free to post a comment with insights or questions pertaining… You will see ‘Pending’ in the upper left corner as these desirable condos soon go under contract! First Time Home Buyers are taking advantage of the new affordable selection plus $8,000 tax credit while Miami Beach Investors Note 2 to 5% ROI when owned outright. 1.888.383.7326

5 thoughts on “Miami Beach Condo REO (Bank Owned) vs. Short Sale Inventory Q1 2009

  1. I want to buy a small one bedroom condo in an exclusive part of Florida. I need to be able to moor my 41′ sailboat there. I can pay cash and don’t care if it hasn’t been finished out. The problem is I only want to do this if it is an absolute deal and am not sure who to use to help me in my search. B

  2. Hi Blake,

    This may be the best choice (85′ slip) in Miami Beach: (click or copy/paste)

    Average dock space value on a 50′ slip is ~$150k

  3. 7 out of these 20 bank owned condos are now under contract within 22 days of this posting. 1 at Trump palace has closed at 81% of list. Miami Beach real estate is like gold in the ground. NOW is the time for the beaches.