American River Canyon North / Folsom Market Update

Folsom Property Sales:   November property sales totalled 88, up 1.2% from 86 in November of 2011, and 11:5% higher than the 76 sales last month.  November 2012 sales were at their highest level compared to November 2011 and 2010.  November year-to-date (YTD) sales of 929 are running -1.2% behind last year's YTD sales of 940. Prices:   The Median Sales Price in November was $340,000, up 19.1% from $285,000 in November 2011 and down -4.9% from $357,500 last month.  The Average Sales Price in November was $345,258, up 15% from $300,297 in November of 2011 and down -6.4% from $368,854 last month.  November 2012 ASP was at a mid range compared to November 2011 and 2010. Inventory & Month's Supply of Inventory (MSI):   With 88 homes sold lasts month and 59 homes currently available in Folsom, we have less than a one month supply of available inventory.  Most sellers are still receiving multiple offers. Average Dollar Per Square Foot for Sold Homes: October 2011  -    $

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FOLSOM Property Sales:   October property sales totalled 76, up 10.1% from 69 in October 2011 and 2.7% higher than the 70 sales last month.  October year-to-date (YTD) sales of 839 are running -1.8% behind last year's YTD sales of 854. Prices:   The Median Sales Price in October was $360,000, up 20% from $300,000 in October 2011 and up 6.7% from $337,500 last month.  The Average Sales Price (ASP) in October was $371,929, up 18.6% from $313,574 in October 2011 and up 3.3% from $359,917 last month.  October's ASP was at it's highest level compared to October 2011 & 2010. Inventory & Month's Supply of Inventory (MSI):    With 76 homes sold last month and 73 homes currently available in Folsom, we have less than a one month supply of available inventory.  Most sellers are receiving multiple offers. Average Dollar Per Square Foot for Sold Homes: September 2011 -  $155          September 2011 - $168 October 2011 -  $156              October 2012 - $169 Sta

Home prices climb 0.9% in August - Oct. 30, 2012

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FOLSOM: Property Sales:   September property sales were 70, down -32.7% from 104 in September of 2011 and -28.6% lower than the 93 sales last month.  September year-to-date (YTD) sales of 759 are running -3.3% behind last year's YTD sales of 785. Prices:   The median Sales Price in September was $337,500, up 13.1% from $298,500 in September of 2011 and up .06% from $335,500 last month.  The Average Sales Price in September was $360,569, up 13.3% from $318,211 in September of 2011 and up 7.2% from $336,322 last month. Inventory & Month's Supply of Inventory (MSI):   With 71 homes sold last month and only 63 available homes in Folsom we have less than a one month supply of available inventory.  Many sellers in Folsom under the $450,000 and under price range are still receiving multiple offers on their homes.  Average Dollar Per Square Foot for Sold Homes: August 2011 -         $153               August 2012 -      $161 September 2011 -   $155               September

FOLSOM : Property Sales :   August property sales were 93, up 6.6% from August 2011 and  higher than the 67 sales in last month. August 2012 sales were at their highest level compared to August 2011 and 2010.  August YTD sales are running 2% ahead of last year's year-to-date sales.  Prices:   The Median Sales Price in August was $344,000 up 10.3% from $312,000 in August of 2011 and down 2.7% from $353,500 last month.  The Average Sales Price in August was $359,631, up 11% from $323,634 in August of 2011 and down 1.5% from $364,944 last month. Inventory & Month's Supply of Inventory (MSI):   With 93 homes closing escrow last month and only 85 available homes in Folsom we have less than a one month supply of available homes.  A low MSI is more beneficial for sellers and the current sellers in Folsom are definitely in control of their sales with multiple offers being written on their homes. The dollar per square foot average for sold homes in Folsom: July 2011 -      

FOLSOM:   Another busy month for buyers and sellers in July.  The overall number of homes sold in July is down from June, but so is the available inventory.  Most homeowners $450,000 and under are still receiving multiple offers within days of going on the market. When was the last time we saw interest rates in the 3's?  Buyers understand this are looking to take advantage of the cheap loans available right now and the lack of available homes is driving up prices slightly.  The majority of homeowners are not seeing their home values drop and instead are steadily on the increase.  There is a 2.16 month supply of available homes in Folsom. Look below at the July Sold Homes by number of units and you will see the homes which are selling are more evenly spread across the price ranges instead of the bulk of sold homes being in the $200,000 to $300,000 price ranges as in previous months.  This may be a good indicator that our home purchasers are not all investors but homeowners who w

FOLSOM :    Folsom and the surrounding areas are still seeing multiple offers under $450,000.  However, I am starting to sense a slight pull back from buyers who have taken a beating trying to compete in this price range, and some buyers are reconsidering if they want to continue to pursue properties in this competitive real estate market. The market activity continues to be brisk, but the number of solds decreased by 11 homes overall between May and June.  The inventory of available homes is still low and there is a 1.77 month supply of homes available in Folsom. The dollar per square foot average for sold homes in Folsom: June 2012       $162.31 June 2011       $151.48 Housing Stats for June 2012* Properties for Sale w/o Active Short Sale Contingent Status:     79     $170,000 - $1,100,000 All Properties Showing Active in the MLS                               180     $   90,000 - $1,100,000 Properties Sold in May 2012                                                       9

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FOLSOM :  The $450,000 and under market continues to see multiple offers and very low inventory.  Desperation is creating a market where some buyers are unfortunately starting to waive many of their protective contingencies in order to be the winning bidder on these homes. The short sales have skewed our MLS stats due to the fact that there are two kinds of statuses for short sales in our MLS; the active short sale and the active short sale contingent (Indicating the seller has accepted an offer and is working with their lender for approval of the short sale. These homes are not truly available & are not being shown).    Our current available inventory for Folsom is 191 homes which include the "contingent short sales" because they continue to show in the "active" status of the MLS.  But if you remove the "contingent" status, there are really only 71 homes currently active on the market in Folsom, and that's less than a one month supply of homes

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Fast Facts Calif. median home price : March 2012: $291,080 (Source: C.A.R.) Calif. highest median home price by region/county March 2012: San Mateo, $677,900 (Source: C.A.R.) Calif. lowest median home price by region/county March 2012: Tehama, $108,000 (Source: C.A.R.) Calif. Pending Home Sales Index : March 2012: 143.7, an increase from the revised 126.5 recorded in February. Calif. Traditional Housing Affordability Index : First quarter 2012: 56 percent (Source: C.A.R.)

FOLSOM:   The under $450,000 market continues to see multiple offers and low numbers of available homes.  Offers to purchase slow down over the $450,000 price point, but this has been a very active spring in the Folsom real estate market.  Buyer traffic has been good in all price ranges and many buyers are ready to make offers.  The number sales in the $400,000 to $600,000 is up substantially over past months.  There currently is a 1.5 month supply of available homes in Folsom which indicates an increasing overall trend. Housing Stats for April 2012* Current Properties for Sale                213       Price Range:  $90,000 - $1,150,000 Properties Sold in March                     71                              $90,000 - $960,000 Properties Sold in April                       92                              $75,000 - $734,000 April Sold Homes by number of units in each price bracket: $100,000's - 14          $200,000's - 31          $300,000's - 20 $400,000's

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Fast Facts Calif. median home price : February 2012: $266,660 (Source: C.A.R.) Calif. highest median home price by region/county February 2012: Marin, $732,140 (Source: C.A.R.) Calif. lowest median home price by region/county February 2012: Tehama, $85,000 (Source: C.A.R.) Calif. Pending Home Sales Index : February 2012: 127.8, an increase from the revised 102.4 recorded in January. Calif. Traditional Housing Affordability Index : Fourth quarter 2011: 55 percent (Source: C.A.R.) Mortgage rates : Week ending 4/5/2012 30-yr. fixed: 3.98% fees/points: 0.7% 15-yr. fixed: 3.21 fees/points: 0.7% 1-yr. adjustable: 2.78% Fees/points: 0.6% (Source: Freddie Mac)

FOLSOM:   Huge changes in the market and they are all positive.   Folsom continues to be an excellent location for home ownership and multiple offers are being seen on many Folsom properties.   Last April there were 389 available and 119 pending homes in Folsom – compare that with the current numbers. Housing Stats for March 2012*: Current Properties for Sale :      204      Price Range:   $99,000 - $1,150,000 Properties Sold in February:       62                            $76,500 - $764,312   Properties Sold in March:           71                            $90,000 - $960,000 Current Pending Sales               158                              $75,000 - $750,000 March Sold Homes by number of units in each price bracket:      $100,000’s – 11             $200,000’s – 17              $300,000’s – 30      $400,000’s – 8                $500,000’s – 2               $600,000’s – 2        $700,000’s – 0                $800,000’s – 0               $900,000+ - 1 AMERICAN RIVER CAN

Fast Facts Calif. median home price : January 2012: $268,280 (Source: C.A.R.) Calif. highest median home price by region/county January 2012: Marin, $694,440 (Source: C.A.R.) Calif. lowest median home price by region/county January 2012: Tehama, $110,000 (Source: C.A.R.) Calif. Pending Home Sales Index : January 2012: 102.4, an increase from the revised 93.1 recorded in January 2011 Calif. Traditional Housing Affordability Index : Fourth quarter 2011: 55 percent (Source: C.A.R.) Mortgage rates : Week ending 3/1/2012 30-yr. fixed: 3.90% fees/points: 0.8% 15-yr. fixed: 3.17 fees/points: 0.8% 1-yr. adjustable: 2.72% Fees/points: 0.6% (Source: Freddie Mac)

FOLSOM:   No significant change in the number of available homes in Folsom over the last several months.  However, the number of pending sales has increased sharply by 27 homes since January.  At this current rate of absorption, Folsom has a 2.25 month supply of available homes which is reflective of  a stable real estate market. Housing Stats for February 2012*:      Current Properties for Sale:      220      Price Range:   $75,000 - $1,188,000      Properties Sold in January:        68                             $56,000 - $565,000      Properties Sold in February:      62                             $76,500 - $764,312      Current Pending Sales:             140                             $96,500 - $949,000 January Sold Homes by number of units in each price bracket:      $100,000's - 7           $200,000's - 29          $300,000's - 16      $400,000's - 5           $500,000's - 2            $600,000's - 1      $700,000's - 2           $800,000

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It was an exciting Super Bowl yesterday between two great teams.   I love the clever commercials and all of the junk food we feel we have permission to eat on Super Bowl Sunday.   If you didn’t watch football yesterday, I hope that you were able to get out and enjoy the beautiful spring-like weather. California Association of Realtors Fast Facts for December 2011: Calif. median home price : December 2011: $285,920 (Source: C.A.R.) Calif. highest median home price by region/county December  2011: Marin: $693,880 (Source: C.A.R.) Calif. lowest median home price by region/county December 2011:  Madera : $106,000 (Source: C.A.R.) Calif. Pending Home Sales Index : December 2011: 91.6, an increase from the revised 82.5 recorded in December 2010 Calif. Traditional Housing Affordability Index : Third quarter 2011: 52 percent (Source: C.A.R.) Mortgage rates : Week ending 1/26/2012 30-yr. fixed: 3.98% fees/points: 0.7% 15-yr. fixed: 3.24 fees/points: 0.8% 1-yr. adjustable: 2.74% Fees

Fast Facts Calif. median home price : December 2011: $285,920 (Source: C.A.R.) Calif. highest median home price by region/county December  2011: Marin: $693,880 (Source: C.A.R.) Calif. lowest median home price by region/county December 2011: Madera: $106,000 (Source: C.A.R.) Calif. Pending Home Sales Index : December 2011: 91.6, an increase from the revised 82.5 recorded in December 2010 Calif. Traditional Housing Affordability Index : Third quarter 2011: 52 percent (Source: C.A.R.) Mortgage rates : Week ending 1/26/2012 30-yr. fixed: 3.98% fees/points: 0.7% 15-yr. fixed: 3.24 fees/points: 0.8% 1-yr. adjustable: 2.74% Fees/points: 0.6% (Source: Freddie Mac)

Fast Facts from the California Association of Realtors Calif. median home price : December 2011: $285,920 (Source: C.A.R.) Calif. highest median home price by region/county December  2011: Marin: $693,880 (Source: C.A.R.) Calif. lowest median home price by region/county December 2011: Madera: $106,000 (Source: C.A.R.) Calif. Pending Home Sales Index : December 2011: 91.6, an increase from the revised 82.5 recorded in December 2010 Calif. Traditional Housing Affordability Index : Third quarter 2011: 52 percent (Source: C.A.R.) Mortgage rates : Week ending 1/19/2012 30-yr. fixed: 3.88% fees/points: 0.8% 15-yr. fixed: 3.17 fees/points: 0.8% 1-yr. adjustable: 2.74% Fees/points: 0.6% (Source: Freddie Mac)

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I hope that you and your family had a wonderful holiday and New Year celebration.   The beginning of a new year is always an exciting and promising time with resolutions to be honored and a trust that a new year will bring exciting new changes. As we welcome 2012, I thought that researching ARCN’s previous year end real estate statistics would be an interesting and useful tool for charting the progress of our local real estate market over the course of the last 5 years.   The statistics* that I have tracked are for single family homes in ARC North only and do not include properties in the Cascades or Canyon Falls Village from January 2007 to the last day of 2011.                                                Click for ARCN 2011 Sales Stats   2007             TOTAL HOMES SOLD:                                              34                         Average Market Time:                           69 days                         Average List Price: