New York City Foreclosures Down 47% from Q4 2010; Queens foreclosures decreased by 61% while Manhattan foreclosures increased 46%

The number of new scheduled NYC foreclosure auctions was down 67% in Q1 2011 compared to Q1 2010, and was down 47% from Q4 2010.

New York, NY, April 13, 2011 — PropertyShark.com, the premier real estate research site, today released its quarterly report covering first-time residential New York City foreclosures for Q1 2011.

Key Report Findings

• The number of new scheduled foreclosure auctions in New York City (256) saw a 67% decrease in Q1 2011 compared to Q1 2010 (767), and a 47% decrease from Q4 2010 (487).
• Compared to Q4 2010, Staten Island foreclosures were down 68%, Queens foreclosures decreased 61%, scheduled foreclosures in Brooklyn were down 41% and Bronx foreclosures were down 31%. Manhattan was the only borough that saw an increase in the number of new scheduled foreclosures: 46% more than in Q4 2010.
• Pre-foreclosures in NYC were down 30% compared to Q1 2010 and down 4% from Q4 2010.

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PropertyShark.com aggregates real estate data from hundreds of public and proprietary sources into an easy-to-use yet comprehensive property research website covering two dozen major markets. Site visitors can view detailed property reports for almost every residential or commercial property, scan recent sales comparables of similar properties to determine market values, browse foreclosure listings, and much more.

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A wholly-owned subsidiary of Yardi Systems Inc, PropertyShark.com offers the information essential to evaluate real estate and make informed decisions. PropertyShark.com, which was named one of TIME.com’s “Top 50 Websites of 2009″, provides real estate professionals, investors and home buyers with data and tools on all aspects of property, including building details, ownership information, recent sales prices, property values and comparable sales, sophisticated maps, for sale and for lease listings, foreclosures and pre-foreclosures, mailing lists, photos, and more. PropertyShark.com was founded by Matthew Haines in 2003. For more information or a free basic account, visit www.PropertyShark.com.