Foreclosures: Buyers Snagged Bank-Owned Condos In Jade Residences, Icon Brickell And Carbonell Projects In 2023

  • Published by Peter Zalewski
  • 1/26/2024
  • 7:35:13 PM
A review of 2023 distressed condo statistics shows that buyers purchased five REO condos at an average price of $641 per square foot.



Buyers looking for distressed condos – shortsales and Real Estate Owned (REO) by lenders – in Greater Downtown Miami have limited choices at the peak of the South Florida Winter Buying Season, according to an analysis based on statistics from

Currently, only three condos are listed for sale in the Multiple Listing Services (MLS) – a database used by Realtors to market units – at an average asking price of $745,970 per unit or $1,000 per square foot. All of the listings are REOs as no shortsales are currently available for sale.

In the 12 months of 2023, buyers purchased five REO condos at an average price of $914,800 per door or $641 per square foot, according to the stats.

To read the entire report, please visit Peter Zalewski’s Substack page at:

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