Southeast Florida Stats on REO Bank Owned & Short Sale Percentages. I’ve been curious how each city is doing when evaluating selected South Florida entities and their total Condo Inventory vs. Bank Owned (REOs) 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 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 in 1Q 2009 and see what directions & changes may have occurred.
Stats on REO Bank Owned
| 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% |
| Lauderdale 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% |
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