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Tracking San Francisco foreclosures (REO’s)

by sfishome on November 26, 2009

Tracking San Francisco foreclosures (REO’s)

On February 22nd 2009 I reported foreclosures/REO’s listed on the San Francisco MLS

Homes = 44 REO’s of 570 total homes listed for-sale or 7.7%
Condos = 23 REO’s of 949 condos/lofts/TIC’s/coops (condo only number is a better metric which I have below – estimate at least 220 were TIC’s of the total) so 5.2% of San Francisco condos were REO’s

On July 18th 2009 San Francisco MLS listed foreclosures were:

Homes = 31 REO’s of 578 total listed for-sale or 5.4%
Condos = 29 REO’s of 668 condos (not including TIC’s etc this time) or 4.3%

Today, November 25th 2009 San Francisco MLS listed foreclosures are:

Homes = 37 REO’s of 484 total listed for-sale or 7.6%
Condos = 15 REO’s of 606 condos or 2.5%

Interesting that Condo foreclosures are way down, but homes are up from July, and flat from February. Total foreclosures have trended down as a percentage of total properties for-sale in San Francisco, and as raw numbers. 67 in February, 60 in July, and 52 now. That contradicts other reporting I’ve read. One guess may be that Short Sales are up…. that’s for another post.

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