Bronx remains borough with least active foreclosure market: report

Apartments in the Longwood section of the Bronx.
Apartments in the Longwood section of the Bronx on Friday, May 3, 2024.
Photo Camille Botello

The Bronx remains the borough with the least active foreclosure market despite a 74% year-over-year increase in the borough, according to PropertyShark’s 2024 quarter-two report. PropertyShark is a property research tool for real estate professionals, investors, and homebuyers in New York. 

The report states that the Bronx accounts for 9% of all of New York City’s second-quarter foreclosures. The Bronx had 33 first-time foreclosures, the lowest figure among all five boroughs. 

Courtesy PropertyShark

The year-over-year foreclosure market continues to increase in the Bronx, despite PropertyShark stating the borough remains the “least active market” due to its low cases since 2020. In the first quarter of 2024, the Bronx had a 72% year-over-year increase from early 2023 — the highest jump of any city borough. 

In the first quarter of 2024, the Bronx filed 43 foreclosures. Now in the second quarter of 2024, Property Shark states the Bronx has returned to post-moratorium equilibrium and because the first quarter saw “temporarily inflated numbers,” a 24% drop in cases to 34 foreclosures filed makes the prior activity “looks larger than it truly was.” 

The Bronx saw the highest number of foreclosure cases in the first quarter of 2020 when 85 foreclosures were filed. Year-over-year New York City foreclosures ticked upward 1%. 

According to the report, the Bronx’s most active area of foreclosure was zip code 10462, including neighborhoods from Bronxdale, Parkchester and Van Nest. Six first-time foreclosures were filed in this ZIP code in the second quarter. 


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