Queens Foreclosure Filings Show Divergent Market Trends
While completed foreclosures fell, pre-foreclosure notices rose, impacting property owners across the borough.
Updated on Oct. 28, 2026 in Commercial
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During the third quarter of 2026, Queens reported 106 first-time foreclosure filings, marking a 36% decline compared to the same period in 2025. While completed first-time foreclosures slowed across the borough, pre-foreclosure activity increased simultaneously.
Why it matters
The divergence between falling completed foreclosures and rising pre-foreclosure notices suggests a complex environment for property owners navigating financial distress. Rising lis pendens filings often serve as a warning sign for property owners of potential long-term credit and equity risks.
Queens recorded 106 first-time foreclosures in Q3 2026, a 36% decrease from 165 cases in Q3 2025. Meanwhile, pre-foreclosure lis pendens filings rose 26% year-over-year to 697, highlighting an increase in early-stage property distress.
The details
Foreclosure filings typically occur when a property owner misses mortgage payments, triggering a legal process that can lead to a public auction. Pre-foreclosure, or lis pendens, signifies that a lender has formally started the legal process to recover debt before a final auction occurs. Property auctions, such as those seen in Astoria and Corona, involve the sale of assets to satisfy specific liens. Understanding these filings is critical for property owners concerned about their current loan standing.
Timeline
July 10, 2026: An Astoria building at 20-17 43rd St. was auctioned for a $969,793 lien.
Aug. 13, 2026: A building at 34-37 111th St. in Corona was auctioned for a $756,492 lien.
Q3 2026: Queens recorded 106 first-time foreclosure filings.
Money Landscape
Property distress remains a focal point in the city, with current trends sitting in contrast to prior quarterly peaks. The latest filings update the broader volatility observed in the borough's real estate sector throughout the year.
Property owners concerned about their status should monitor any notices from lenders, as a lis pendens is an early legal signal of potential foreclosure. If you are experiencing difficulty with mortgage payments, speaking with a qualified housing counselor or financial professional may help clarify options.
The takeaway
While first-time foreclosures are trending downward, the rising volume of pre-foreclosure filings serves as a critical signal to remain attentive to loan communications. If you receive a notice, consider scheduling a consultation with a legal or financial professional to review your options early.
Further reading
For more insight into regional property market trends, visit New York City Commercial.
Source note: This article includes information reported by QNS.
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