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Breakdown of Foreclosures in the Greater New York City Area

November 29, 2018

 

Outstanding foreclosures across New York City and the surrounding counties vary because of employment, income, access to transportation and other factors.

 

Based on current Zillow data the number of foreclosure is highest in Suffolk county at a total of 1,154 with 503 of the properties listed for sale. The remaining 651 properties are marked in foreclosure on Zillow but not listed currently for sale. Information on foreclosures are typically available from county records.

 

Union and Middlesex have the highest number of foreclosures in New Jersey (in the NYC region) with 678 and 664 respectively.

 

Looking at the data on a map we see low numbers in New York County at 5, Kings County (Brooklyn) at 33 and Bronx County at 41 - clearly demonstrating the national trend of migration to city centers as properties are quickly purchased at foreclosure auctions or even earlier in the form of short sales. Properties further out in suburbs and exurbs sit for longer periods - especially where commuting times extend beyond one hour each way.

 

An interactive map and chart in Tableau is available here.

 

Disclaimer - This material has been distributed for informational purposes only and should not be considered as investment advice or a recommendation of any particular security, strategy or investment product.

 

 

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