Over 500 properties were foreclosed upon in San Francisco over the past year, up 27 percent from 2011 and 10 percent higher than in 2010, the previous high-water mark for homes being taken back by the bank.
By our counts, roughly 41 percent of San Francisco foreclosures occurred in District 10 in 2012, down from 42 percent in 2011 and well below the 48 percent recorded in 2009 or the 58 percent recorded in 2008.
In terms of the current foreclosure pipeline, pre-foreclosure activity in San Francisco has fallen from 379 properties in October to 286 today, 36 percent of which are in District 10*. On a year-over-year basis, pre-foreclosure activity has fallen 55 percent with 642 properties in the pipeline at the end of 2011, 38 percent of which were in District 10.
The number of properties currently scheduled for auction in San Francisco has dropped 30 percent over the past three months, from 477 to 332 today (39 percent of which are in District 10 versus 44 percent three months prior), down from 555 a year ago (at which point 40 percent were in District 10).
Over the past year, roughly 69 percent of scheduled foreclosure auctions in San Francisco were cancelled, down one point from a 70 percent cancellation rate in 2011, 66 percent in 2010, 55 percent in 2009, 53 percent in 2008, and 49 percent in 2007.
*Editor’s Note: In an attempt to match and map two disparate data sets, we include 94124, 94134 and 94112 in “District 10,” which results in a slightly larger area than the District as defined by the San Francisco Association of Realtors.