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 want to live in Folsom.
The dollar per square foot average for sold homes in Folsom:
June 2011 - $151 June 2012 - $162
July 2011 - $157 July 2012 - $166
Housing Stats for July 2012*
Properties for Sale w/o Short Sale Contingent Status: 88 $85,000 - $1,100,000
Short Sale Contingent/Pending Lender Approval: 90 $90,000 - $890,000
Properties Sold in June 2012: 81 $111,000 - $1,090,000
Properties Sold in July 2012: 67 $91,000 - $625,000
Current Pending Properties: 145 $112,900 - $899,000
July Sold Homes by number of units in each price bracket:
$100,000's - 4 $200,000's - 19 $300,000's - 21
$400,000's - 17 $500,000's - 5 $600,000's - 1
$700,000's - 0 $800,000's - 0 $900,000+ - 0
AMERICAN RIVER CANYON NORTH: With only 10 homes active and 5 homes pending, the ARCN market seems to be holding steady with a 3.33 month supply of available homes. The average days on market for the current sold homes is 78 days, 88 days for the pendings and 59 for the active properties, which is exactly the same as last year at this time.
The newly closed/sold properties are reflecting dollar per square foot prices nearly the same as July 2011 which indicates that prices are no longer dropping, but holding.
We have to remember that as ARCN turns 23 years old, many of the neighborhood homes are in need of updating, mechanical equipment and an aging shake roof is a definite turn off to most buyers. Even a 2 year roof certification is no longer seen as a satisfactory fix to this looming expense.
The dollar per square foot average for sold homes in ARCN:
June 2011 - $158 June 2012 - $157
July 2011 - $169 July 2012 - $167
Click HERE for July 2012 Market Data
ARC North Statistics for July 2012*: 10 Active, 1 Short Sale, 5 Pending, 3 Sold/Closed since 7/1/12
Changes to the ARC North Market since 7/1/12:
New Listings:
248 ARC Drive $500,000 3/4 bed / 2.5 bath 3,549 sf Yr Blt 2000 Bank owned
104 Cedar Ridge $575,000 4 bed / 3 bath 3,782 sf Yr Blt 1990 Pool Short sale
143 Tomlinson $625,000 5 bed / 3 bath 4,190 sf Yr Blt 1990
616 Landrise $750,000 5 bed / 3.5 bath 4,212 sf Yr Blt 2005
New Pending Sales:
101 Mule Creek $479,900 3 bed / 3 bath 2,881 sf Yr Blt 1989 Pool
140 Feather Falls $569,000 4/5 bed / 4 bath 4,149 sf Yr Blt 1997 Pool Bank owned
249 Cascade Falls $749,900 5 bed / 4 bath 4,063 sf Yr Blt 1989 Pool
New Sold/Closed with Sales Price:
112 Lost Creek $420,000 4 bed / 2 bath 2,699 sf Yr Blt 1988 Investor owned
132 Cascade Falls $475,000 4 bed / 3 bath 3,199 sf Yr Blt 1989 Pool
164 Lost Creek $575,000 4 bed / 3 bath 2,893 sf Yr Blt 1989 Pool
Robin's Marketing Minute:
Visit my website at www.RobinKaplan.com for homes searches, mortgage calculators, Buyer and Seller information, plus much more!
*Source: Metrolist MLS
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 want to live in Folsom.
The dollar per square foot average for sold homes in Folsom:
June 2011 - $151 June 2012 - $162
July 2011 - $157 July 2012 - $166
Housing Stats for July 2012*
Properties for Sale w/o Short Sale Contingent Status: 88 $85,000 - $1,100,000
Short Sale Contingent/Pending Lender Approval: 90 $90,000 - $890,000
Properties Sold in June 2012: 81 $111,000 - $1,090,000
Properties Sold in July 2012: 67 $91,000 - $625,000
Current Pending Properties: 145 $112,900 - $899,000
July Sold Homes by number of units in each price bracket:
$100,000's - 4 $200,000's - 19 $300,000's - 21
$400,000's - 17 $500,000's - 5 $600,000's - 1
$700,000's - 0 $800,000's - 0 $900,000+ - 0
AMERICAN RIVER CANYON NORTH: With only 10 homes active and 5 homes pending, the ARCN market seems to be holding steady with a 3.33 month supply of available homes. The average days on market for the current sold homes is 78 days, 88 days for the pendings and 59 for the active properties, which is exactly the same as last year at this time.
The newly closed/sold properties are reflecting dollar per square foot prices nearly the same as July 2011 which indicates that prices are no longer dropping, but holding.
We have to remember that as ARCN turns 23 years old, many of the neighborhood homes are in need of updating, mechanical equipment and an aging shake roof is a definite turn off to most buyers. Even a 2 year roof certification is no longer seen as a satisfactory fix to this looming expense.
The dollar per square foot average for sold homes in ARCN:
June 2011 - $158 June 2012 - $157
July 2011 - $169 July 2012 - $167
Click HERE for July 2012 Market Data
ARC North Statistics for July 2012*: 10 Active, 1 Short Sale, 5 Pending, 3 Sold/Closed since 7/1/12
Changes to the ARC North Market since 7/1/12:
New Listings:
248 ARC Drive $500,000 3/4 bed / 2.5 bath 3,549 sf Yr Blt 2000 Bank owned
104 Cedar Ridge $575,000 4 bed / 3 bath 3,782 sf Yr Blt 1990 Pool Short sale
143 Tomlinson $625,000 5 bed / 3 bath 4,190 sf Yr Blt 1990
616 Landrise $750,000 5 bed / 3.5 bath 4,212 sf Yr Blt 2005
New Pending Sales:
101 Mule Creek $479,900 3 bed / 3 bath 2,881 sf Yr Blt 1989 Pool
140 Feather Falls $569,000 4/5 bed / 4 bath 4,149 sf Yr Blt 1997 Pool Bank owned
249 Cascade Falls $749,900 5 bed / 4 bath 4,063 sf Yr Blt 1989 Pool
New Sold/Closed with Sales Price:
112 Lost Creek $420,000 4 bed / 2 bath 2,699 sf Yr Blt 1988 Investor owned
132 Cascade Falls $475,000 4 bed / 3 bath 3,199 sf Yr Blt 1989 Pool
164 Lost Creek $575,000 4 bed / 3 bath 2,893 sf Yr Blt 1989 Pool
Robin's Marketing Minute:
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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