Manhattan and Queens Reach the Same Level of First Time Foreclosures in November 2011

New York, NY, December 23, 2011 --(PR.com)-- PropertyShark.com, a New York based property search and foreclosure listings website, released its monthly report covering new scheduled foreclosure auctions in New York City for November 2011.

Key Report Findings

· NYC first time foreclosures dropped slightly for the sixth consecutive month in November 2011. This number is down 61% from November 2010 (146), and down 5% from October 2011 (60).

· Queens foreclosures decreased 77% compared to the previous year. In contrast, Manhattan foreclosures doubled, reaching in November 2011 the same level as Queens (16 new scheduled foreclosure auctions).

· Despite the low number of new scheduled foreclosure auctions, pre-foreclosure filings remained steady. There were 715 residential properties in the five boroughs that received lis pendens filings in November 2011, only 2% less than in November 2010.

###

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.