Posted on Tuesday, 08.11.2009

Miami Homes for Sale - Miami Real Estate Auctions

In terms of Miami real estate auctions at the courthouse, the numbers have gone up from a monthly average of 847 in 2007 to an average of 1,583 in 2008. The first six months of 2009 has seen 1,916 Miami real estate properties up for auction.The semi-annual figures are shown in the chart below.

In order to analyze the number of Miami homes and other types of foreclosures by housing characteristics and location we turn to our third dataset, the statistics related to the final stage of the foreclosure process, the REO numbers. In the nine month period ending May 2009, lenders had taken ownership of 6,995 Miami homes and other Miami real estate residential properties countywide, representing an annual rate of 9,327 or roughly 1% of all residential properties.

Miami Real Estate Auctions (Quarterly), Miami Real Estate

Nearly 1% of these REO properties are rental buildings, 36% are condominium units and 63% are Miami homes including attached, detached, townhouses and duplexes (See below).
 

Source: Miami-Dade County Clerk of Courts, Florida Association of Realtors. Miami-Dade County, Department of Planning and Zoning, Research Section 2009.