Miami-Dade County, Florida started off  rather strong with a total of  1,483 new foreclosure filings in February.  There were 870 new filings on single family homes and 613 new foreclosure filings on condo/townhouse properties.

In January there were 908 single family filings and 603 condo/townhouse filings, so February showed a slight decrease.The next chart shows the trend in total new filings on a monthly basis.

It has been a few months since we last ran a foreclosure search for the cities throughout Miami-Dade, but there have been noticeable increases across the board.  In most areas, there have been 20-30% increases and higher in some areas.  We haven’t included all of the downtown areas, just a few zip codes.  Even with in doing so, we found a total of 29,261 properties in foreclosure as of 4/5/2013 in the cities and select zip codes detailed on the chart below:

Here are some of the cities with the highest number of properties in foreclosure:

• Homestead topped the list with 4,415 single family homes and 2,213 condo/townhouse properties in foreclosure
• Hialeah has 3,534 single family homes and 4,923 condo/townhouse properties in foreclosure
• Miami Beach has 342 single family homes and 3,132 condos in foreclosure
• The select zip codes* in Downtown/Brickell have 116 single family homes and 1,921 condos in foreclosure
• Coral Gables has 692 single family homes and 473 condo/townhouse properties in foreclosure

These are just some of the cities with an elevated level of foreclosures in Miami-Dade County Florida.  With the local and national media always talking about a “real estate recovery”, it is important to remember that the average foreclosure takes 853 days in Florida since we live in a judicial state.  You will notice that the pace of new filings hasn’t slowed by much recently and will most likely pick-up now that the major banks signed the national mortgage settlement.  At some point, the majority of these properties will reach the market as a short-sale or bank-owned (REO) property.  We will continue to update the foreclosure data for Miami-Dade, Broward and Palm Beach County, Florida to keep our readers informed.