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Folsom - December Market Update

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
            $400,000’s – 8                        $500,000’s – 3                        $600,000’s – 2
            $700,000’s – 0                        $800,000’s – 0                        $900,000’s – 0

California Association of Realtors Fast Facts for December 2011:
Calif. median home price: November 2011: $280,960 (Source: C.A.R.)
Calif. highest median home price by region/county November  2011: Marin: $736,410 (Source: C.A.R.)
Calif. lowest median home price by region/county November 2011: Madera: $103,330 (Source: C.A.R.)

Calif. Pending Home Sales Index: November 2011: 109.8, an increase of 11 percent compared with the prior year.

Calif. Traditional Housing Affordability Index: Third quarter 2011: 52 percent (Source: C.A.R.)

Mortgage rates: Week ending 12/22/2011 30-yr. fixed: 3.91% fees/points: 0.7% 15-yr. fixed: 3.21 fees/points: 0.8% 1-yr. adjustable: 2.77% Fees/points: 0.6% (Source: Freddie Mac)

Visit my website Robin Kaplan to see updated seller and buyer information, property searches, mortgage calculators & much, much more!
*Source:  Metrolist MLS Data

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