S.F. has lowest foreclosure sales rate in state in June

San Francisco logged 70 foreclosure sales in the month of June, the fewest number of sales per population of any county in California, but still a 19 percent jump over May, according to a report released today by ForeclosureRadar.

Overall San Francisco saw one foreclosure per 11,779 residents. Two other Bay Area counties posted numbers that landed them in the top five of least foreclosure sales per population: Marin County had 50 foreclosure sales, or one per 6,037 residents; and San Mateo saw 151 foreclosures, one per 4,897 residents. In the bay Area, Contra Costa suffered the highest foreclosure numbers, with 933 sales, or one per 1,127 residents. Statewide the numbers continue to be dismal. Foreclosure sales jumped 24.7 percent during June, following a 31.9 percent increase in May and a 35 percent increase in April. A total of 22,291 foreclosures were taken to sale at auction, generating $9.5 billion, according to ForeclosureRadar. Opening bids were an average of 39.3 percent lower than the loan balance, with 46 percent discounted by 50 percent or more, according to the ForeclosureRadar report.