Miami Beach Condo REO (Bank Owned) vs. Short Sale Inventory Q2 2009. In researching Miami Beach condo inventory Q2 2009, 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 May 11th, 2009, at 5,677 (6,073 from May REO analysis and down 7%) total condos.
Out of those, how many would you guess are REO (Real Estate ‘Bank’ Owned)?…. only 80 (Bank Owned Down 27% from March 109 selection) along the Dade County beaches or 1%. How many are short sales…? Miami Dade short sales reflect 1,068 condos. This is down 6% from May’s short sale selection of 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) Miami Beach List price is at $287,608. This is down 2% from March figures, which average $294,389. The average list price per square foot cost is $260 PSF (Up 13% over March’s $226 PSF “asking“ prices. The average square footage is 1,069 SF.
These are the Best 20 MIAMI BEACH BANK OWNED (REO) DEALS.
I know the local inventory and relay the very best. Miami Beach, Sunny Isles condo deals {REO Miami Beach Bank Owned Condos} Feel free to post a comment with insights or questions pertaining to… In the upper left corner, you will see ‘Pending’ as these desirable condos soon go under contract fast! First-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. The truth is in the numbers 1.888.383.7326.
You go, Kris!
