Long Island Foreclosures up 9% over Q2 2008, with Suffolk foreclosures up 62%

We just finished the Long Island Foreclosure Report for the second quarter of 2009 which covers scheduled foreclosure auctions in Nassau and Suffolk counties. The report can be found at https://www.propertyshark.com/Real-Estate-Reports/

Overall Nassau and Suffolk headed in opposite directions, with Suffolk foreclosures spiking upwards to two-year highs.

Here is a summary:

New foreclosures in Long Island decreased 20% from Q1 2009 Long Island foreclosures (757) were down 20% compared to Q1 2009 (944), and up 9% over Q2 2008 (696).

Nassau County new foreclosures decreased 58% from Q1 2009Compared to Q1 2009 (626), new foreclosures in Nassau County (265) went down 58%. Since Q2 2008 (393), new foreclosures declined by 33%.

New Foreclosures in Suffolk County reached two-year high in Q2 2009 There were 492 new foreclosure auctions scheduled in Suffolk County during Q2 2009. This was up 62% compared to Q2 2008 (303), and up 55% from Q1 2009 (318).

High foreclosure rates in Bayshore, Central Islip and Brentwood – Bayshore had a rate of one in every 250 homes scheduled for auction, Central Islip had a rate of one in every 293 homes scheduled for auction, and one in every 340 homes in Brentwood was scheduled for auction.

Roxana Baiceanu

Roxana Baiceanu

Roxana is an associate editor with Multi-Housing News and Commercial Property Executive. In the past, she also created content for PropertyShark and Point2Homes’ blog pages. She also has 5 years of experience as a marketing copywriter.