Highest in the New York Metro Region; Nassau Foreclosures Fall by Over 40%
By Hank Russell
A report that recently came out from PropertyShark found that Suffolk County saw a 19.8% increase in first-time residential foreclosure filings last year, while Nassau’s foreclosure numbers in 2024 were 43.4% lower than the year before.
There were 933 first-time filings in Suffolk last year, up from 779 in 2023, according to PropertyShark. Not only did Suffolk have the largest number of foreclosure filings in. the Metro New York area, it was the only county to see a year-over-year increase. In addition, Suffolk made up 15% of all foreclosures in the region and was the only county to surpass 1,000 foreclosures last year.
PropertyShark also noted that Suffolk had more foreclosures than the Lower and Mid-Hudson Valley combined. Orange County led the Lower and Mid-Hudson Valley with 255 foreclosures, followed by Westchester (214), Rockland (124), Dutchess (97) and Putnam (64).
Meanwhile, in Nassau County, first-time filings fell from 1,002 in 2023 to 567 in 2024. Ironically, Nassau led all metro counties in foreclosures in 2023, based on PropertyShark data. Not only that, it was the only county to surpass the 1,000-foreclosure filing mark.
According to PropertyShark, Nassau is third in first-time filings and Suffolk, obviously, first. Queens County was second with 581.
Adding up the numbers between Nassau and Suffolk, there were a combined 1,500 foreclosure filings, making up 24% of the metro region’s residential foreclosure market, PropertyShark said.
Residential properties, according to PropertyShark, include single- and two-family homes, condominiums and co-op units.
PropertyShark defines the Metro New York area as being comprised of Long Island, New York City’s five counties (New York, Kings, Queens, Bronx and Richmond), 3 Lower Hudson Valley Counties (Putnam, Rockland and Westchester), the Mid-Hudson Valley (Dutchess and Orange), northern New Jersey (Bergen, Essex, Hudson, Morris, Passaic, Sussex and Union) and central New Jersey (Hunterdon, Middlesex, Monmouth, Ocean and Somerset).