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American River Canyon North / Folsom Market Update 10/3/11

FOLSOM:  The overall Folsom market has remained fairly constant over the last several months and there is now a 3.5 month supply of available homes which is considered a "stable" market.  Again this month, the upper end sales ($500,000+)are stagnant.  The best segment of the market is the $200,000 to $400,000 range.  Here are the number of homes sold in September by price bracket*:
$100,000's - 13      $200,000's - 33      $300,000's - 28      $400,000's - 15
$500,000's - 3        $600,000's - 1       $700,000's - 1 
        
ARC NORTH: The active listing inventory is at all time lows, but so are the buyers for our neighborhood's price range as evidenced by the numbers above.  Two homes failed to sell and their listings expired in the last few days, further reducing the number of available homes.  At the current rate of absorption, ARCN has a 7 month supply of inventory. 
Current Stats*:  7 Active Listings, 0 Active Short Sales, 6 Short Sale Contingent, 3 Pending and 1 Sold/Closed since 9/1/11.
 
Changes in ARCN since 9/1/11*:  See attached CMA for details
New Listings:  None
New Pendings: 
   133 Feather Falls   $584,900   4 bed/3 ba   3570 sf    Yr Blt 1997
         This home had been a Short Sale Contingent since 7/20/11 & was moved into pending status on 9/2/11.
   312 Canyon Falls    $639,000   5 bed/3 ba    3628 sf   Yr Blt 1992
         This home has had an offer since 7/14/11, but the buyer need to sell their current home first.  This home was moved to pending status on 9/8/11.
New Sold w/Sales Price:
   105 North Falls   $469,500   4 bed/4 ba   3683 sf    Yr Blt 1990
         This home had been a short sale contingent since 7/20/11.
 
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Location: Folsom, CA, USA

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