| 2 minute read

October 2008 Foreclosure Report Issued by PropertyShark.com Covering New York City, Miami, Seattle and Los Angeles Foreclosures

BY PropertyShark.com News Releases | Nov 17, 2008

New York, NY, November 17, 2008 – PropertyShark.com, the premier real estate data site, today released its monthly report covering first-time residential foreclosures in Los Angeles, Miami, Seattle and New York City for October 2008.

Summary (Request report for details and charts):

  • Los Angeles Foreclosures down 51% from Sept 2008, falling close to Oct 2007 levels: In October 2008, Los Angeles recorded the greatest monthly decline (51%) for first time foreclosures in the past two years, approaching levels seen in October 2007.

    • “The new California state law requiring lenders to contact homeowners before filing foreclosures has had an immediate impact. First time foreclosures dropped 51% from September 2008”, stated Ashleigh Rose Clark, Data Acquisition Manager at PropertyShark.com

  • NYC Foreclosures drop 15% from Sept 2008, but climb 50% over Oct 2007: New York City dropped by 15% overall, and every borough except Manhattan recorded a decrease in first time foreclosures compared to September 2008. The Bronx decreased the most (down 54%), followed by Staten Island (down 25%), Brooklyn (down 16%), and Queens (down 9%). Manhattan increased by 2 foreclosures over September 2008. However, NYC was up 50% compared to October 2007, predominantly due to foreclosure activity in Queens.

  • Foreclosures begin to decrease in Los Angeles trouble spots: Zip codes from Palmdale and Lancaster continue to top the list for first time foreclosures, however, significant improvements can be seen in these trouble spots. Foreclosures were down 35% in zip code 93550 (Palmdale), down 52% in 93535 (Lancaster), down 25% in 93552 (Palmdale), and down 49% in 91331 (Pacoima).

  • Foreclosures continue to grow in Miami and Seattle: Compared to September 2008, Miami was up 93% and Seattle was up 14%. Compared to October 2007, foreclosures in Miami were up 35%, while Seattle experienced a 108% increase.

    • “Overall, New York City foreclosures have remained at very low rates. Manhattan has had virtually no foreclosure activity, and even Staten Island, the borough with the highest rate per household, is 2.5 times less than the rate in Los Angeles and 3.4 times less than Miami”, stated Bill Staniford, CEO of PropertyShark.com.

    Real estate investors can browse current foreclosure listings for the following areas:

    Press may request a copy of the report by contacting Brian Scully at 718.408.4985 or visiting PropertyShark BlogCenter .

    ###

    With over 25 million properties in twenty major markets, PropertyShark.com provides real estate professionals and investors with data and tools on all aspects of property, including building details, ownership information, recent sales prices, property values and comparable sales,  titled documents, sophisticated maps, listings, foreclosures and pre-foreclosures, mailing lists, photos, and more, available directly from the web. PropertyShark.com strives to level the playing field by offering independent real estate firms, investors, and savvy consumers the information transparency essential to evaluate real estate and make informed decisions. For more information go to: www.propertyshark.com

    Latest Posts

    NYC Office Market Ahead of National Curve: Manhattan Q1 Vacancy Drops to 13.1% 

    How to Find Land Boundaries: Free & Paid Methods

    Locked-In Owners, Mobile Renters: Homeowners Stay Put as Renters Move 3.7x More Across Largest U.S. Cities 

    $4.6M Hudson Yards Maintains Top Spot, Luxury Sales in Malba Set $2.5M Price Record for Queens

    Want to stay on top of the real estate market?

    Access comprehensive property data and ownership information with intuitive research tools.

    Learn More

    POSTED IN:

    PropertyShark.com News Releases

    Recent Reports

    Locked-In Owners, Mobile Renters: Homeowners Stay Put as Renters Move 3.7x More Across Largest U.S. Cities 
    May 7, 2026

    Renters became the primary drivers of long-distance mobility across the largest U.S. cities, moving 3.7 times more than owners in 2024, as high mortgage rates and housing costs kept many homeowners in place.

    Queens & Manhattan skylines w Queensborough bridge
    $4.6M Hudson Yards Maintains Top Spot, Luxury Sales in Malba Set $2.5M Price Record for Queens
    April 23, 2026

    Despite prices declining, Hudson Yards remained the most expensive NYC neighborhood, but TriBeCa’s growth closed the gap to under $400,000, while Malba set a new historic price record for Queens at $2.5 million, securing the highest ranking ever for the borough at #5.

    Brooklyn streetcorner
    2026 Q1 Foreclosure Report: Brooklyn Filings Fall Sharply, Bronx & Staten Island Hit New Peaks
    April 15, 2026

    Behind a deceptively mild citywide downtick, borough foreclosure markets pulled into significantly diverging paths as Brooklyn cases were nearly halved and the Bronx hit a new, record high. Meanwhile, Queens remained unchanged, Staten Island surged back up and Manhattan cooled slowly.