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Folsom / American River Canyon North Market Update for September 2012

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 2012 - $168

Stats for September 2012:
Properties for Sale w/o Short Sale Contingent Status:    63    $99,900 - $1,100,000
Short Sale Contingent/Pending Lender Approval           87    $85,000 - $   799,000
Properties Sold in August 2012                                      93     $95,000 - $   700,000
Properties Sold in September 2012                                71    $120,000 - $   865,000
Current Pending Sales                                                  127      $75,000 - $   900,000

September Sold Homes by Number of Units Per Price Bracket:
$100,000's - 4          $200,000's - 23          $300,000's - 22
$400,000's - 13        $500,000's - 3            $600,000's - 3
$700,000's - 2          $800,000's - 1            $900,000+ - 0

AMERICAN RIVER CANYON NORTH:
Property Sales:  5 homes closed escrow in September 2012, up from 4 in August 2012 and up from 1 in September 2011. 

Prices:  The Average Sales Price for September 2012 was $600,400, up from $466,225 in August 2012.  September 2011 had an Average Sales Price of $469,500. 

Inventory & Month's Supply of Inventory (MSI):  The available inventory has remained constant over the last several months.  There are currently 5 available homes (4 equity sales and 1 short sale).  With only 5 homes on the market and 5 homes closed last month, we have currently have a one month supply of available homes.

Average Dollar Per Square Foot for Sold Homes:
August 2011 -       $184          August 2012 -       $141
September 2011 - $127           September 2012 - $158

Click HERE for September 2012 Market Data

Changes to the ARC North Market since 9/1/12:
New Listings:
 361 Canyon Falls   $509,000  4 bed / 3 ba     3,173sf   Yr Blt 1990 
 115 Cascade Falls  $549,000  4/5 bed / 3 ba  3,621 sf  Yr Blt 1989  Pool
 311 Canyon Falls   $595,000  5 bed / 3.5 ba  3,813 sf  Yr Blt 1995  Pool
New Pending Sales:
 171 ARC Drive      $475,000  4 bed / 3.5 ba  3,828 sf  Yr Blt 1989  Pool   Short Sale
 155 ARC Drive      $559,000  5/6 bed / 3 ba  3,332 sf  Yr Blt 1997  Pool
 135 ARC Drive      $570,000  5 bed / 3 ba  3,502 sf     Yr Blt 2000             Short Sale
 243 Alabaster Pt    $619,000   4 bed / 3 ba  4,037 sf     Yr Blt 2006
New Sold/Closed with Sales Price:
 330 Canyon Falls   $437,000  4 bed / 3 ba  3,159 sf     Yr Blt 1991  Pool    Bank Owned
 104 Cedar Ridge    $575,000  4 bed / 3 ba  3,782 sf      Yr Blt 1990 Pool
 140 Feather Falls   $620,000  4 bed / 4 ba  4,149 sf      Yr Blt 1997 Pool    Bank Owned
 104 Flat Rock        $645,000  5 bed / 4 ba  3,672 sf      Yr Blt 2000 Pool
 249 Cascade Falls  $725,000  5 bed / 4 ba  4,063 sf     Yr Blt 1989  Pool

ROBIN'S MARKETING MINUTE:
Visit my website at www.RobinKaplan.com for home searches, mortgages calculators, Folsom/ARC North Market Updates, Buyer/Seller Information, plus much more!

You will soon be receiving your 2012/2013 property tax bill.  If you disagree with your current assessed value, you have a right to file for an informal review by the Assessor during their filling period of July 2nd through November 30th.  Appeal form and instructions are available at www.sccob.saccounty.net/pages/assess or call (916) 874-8174.  I can provide the ARCN sales comps necessary to complete your application.
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