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Coop Foreclosures in New York City Reach a Two-Year Peak in May 2011


In May 2011 the number of coop units scheduled for auction in New York City reached its highest value in 2 years.

Coop Foreclosures in New York City Reach a Two-Year Peak in May 2011
New York, NY, June 22, 2011 --(PR.com)-- PropertyShark.com, the premier real estate research site, released its monthly report covering first-time residential New York City foreclosures for May 2011.

Key Report Findings

* In May 2011 the number of coop units scheduled for auction reached its highest value in 2 years. Coop foreclosures have increased from 6 in May 2010 to 90 in April 2011

* Despite the increase in coop foreclosures, the overall number of first time residential foreclosures auctions in New York City (114) saw a 38% decrease in May 2011 compared to May 2010 (185), and a 23% increase from April 2011 (93)

* With 32 first time foreclosures, Manhattan registered a two-year record in May 2011. The current number is 10 times higher than in May 2010 (3 foreclosures) and is 33% higher than in April 2011

* Compared to April 2011, newly scheduled Brooklyn foreclosures were up 75% and Queens foreclosures were up 38%. Bronx foreclosures were down 42% and Staten Island foreclosures down 25% over the same time period

* Pre-foreclosures in New York City were down 24% compared to May 2010 and increased 10% from April 2011.

To browse current New York City foreclosure listings or New Jersey foreclosures, go to: http://propertyshark.com/mason/Foreclosures/

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.

About PropertyShark
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.

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www.PropertyShark.com

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