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American River Canyon North / Folsom Market Update for June 2012

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                                                       92     $   95,000 - $   580,000
Properties Sold in June 2012                                                       81     $111,000 -  $1,090,000
Current Pending Properties                                                       144     $   89,000 - $   919,000

June Sold Homes by number of units in each price bracket:
$100,000's - 6     $200,000's - 27     $300,000's - 27
$400,000's - 9     $500,000's - 8       $600,000's - 3
$700,000's - 0     $800,000's - 0       $900,000+ - 1

AMERICAN RIVER CANYON NORTH:  With the current price range of the ARC North available homes in the $400,000 to $800,000, they fall into a less competitive segment of the real estate market.  The showing activity has been sluggish and most buyers who are looking in ARC North are also looking at homes in El Dorado Hills, Granite Bay, Roseville & Fair Oaks.

There are 6 pending sales of which 4 are the hard-to-find and highly sought after single story homes.  The majority of the current sales have been in the $400,000 to $500,000 price range and what we need are buyers in the $600,000 and over range to start making offers on our available homes.  There is currently a 2.6 month supply of available homes in ARC North.

The dollar per square foot average for sold homes in ARCN:
June 2012        $157.78
June 2011        $158.53   

CLICK HERE for June 2012 Market Data

ARC North Statistics for June 2012*:  8 Active Listings, 0 Short Sale, 3 Short Sale Contingent, 6 Pending, 3 Sold/Closed since 6/1/12

Changes to the ARC North Market since 6/1/12:
New Listings:
   330 Canyon Falls      $470,250   4 bed / 3 bath   3,159 sf   Yr Blt 1991    Investor Owned
   249 Cascade Falls     $769,000   5 bed / 4 bath   4,063 sf   Yr Blt 1989   
New Short Sale Contingent:
   171 ARC Dr              $475,000   4 bed / 3.5 bath 3,828 sf  Yr Blt 1989
New Pending Sales:
   112 Lost Creek         $424,900    4 bed / 2 bath  2,699 sf  Yr Blt 1988    Investor Owned  1 Story
   101 Hodges Ct          $459,000   5 bed / 3.5 bath  3,675 sf  Yr Blt 1988  Short Sale 1 Story
   132 Cascade Falls     $495,000   4 bed / 3 bath  3,199 sf   Yr Blt 1989     
   134 Feather Falls      $539,000   4 bed / 3 bath  2,890 sf    Yr Blt 1996  1 Story
   164 Lost Creek         $597,000    4 bed / 3 bath  2,893 sf   Yr Blt 1989  1 Story
   154 Red Ridge Ct     $899,000    4 bed / 3.5 bath 4,582 sf  Yr Blt 2002  Short Sale
New Sold/Closed with Sales Price:
   508 Fort Rock Ct     $530,000     4 bed / 4 bath  3,401 sf  Yr Blt 2005
   257 Cascade Falls    $540,000     4 bed / 5.5 bath  4,650 sf  Yr Blt 1992
   130 ARC Dr             $675,000     5 bed / 3.5 bath  3,716 sf  Yr Blt 1990

Robin's Marketing Minute:
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Visit my website at www.RobinKaplan.com for homes searches, mortgage calculators, Buyer and Seller information, plus much more!

*Source:   Metrolist MLS



  

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