American River Canyon North / Folsom Market Update

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:                                        

FOLSOM:   Sales activity has remained relatively unchanged for the last several months and is especially brisk in the $200,000 to $300,000 price range.   The active listing inventory was down in December, but the holiday season generally accounts for this reduction in listings.   As the weather warms, flowers start to bloom and trees green, the listing inventory will rebound quickly. Folsom’s housing stats for December 2011*:             Current Properties for Sale                    235         Price Range: $75,000 - $1,188,000             Properties Sold in November                 79          Price Range: $133,000 - $827,000             Properties Sold in December                  77          Price Range: $58,600 - $685,000             Current Pending Sales                            104       Price Range: $59,900 - $599,000 Folsom Sold Homes by number of units in each price bracket:             $100,000’s – 13                       $200,000’s – 31           $300,000’s – 20