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Folsom / American River Canyon North Market Update - October 2012

FOLSOM

Property Sales:  October property sales totalled 76, up 10.1% from 69 in October 2011 and 2.7% higher than the 70 sales last month.  October year-to-date (YTD) sales of 839 are running -1.8% behind last year's YTD sales of 854.

Prices:  The Median Sales Price in October was $360,000, up 20% from $300,000 in October 2011 and up 6.7% from $337,500 last month.  The Average Sales Price (ASP) in October was $371,929, up 18.6% from $313,574 in October 2011 and up 3.3% from $359,917 last month.  October's ASP was at it's highest level compared to October 2011 & 2010.

Inventory & Month's Supply of Inventory (MSI):   With 76 homes sold last month and 73 homes currently available in Folsom, we have less than a one month supply of available inventory.  Most sellers are receiving multiple offers.

Average Dollar Per Square Foot for Sold Homes:
September 2011 -  $155          September 2011 - $168
October 2011 -  $156              October 2012 - $169

Stats for October 2012:
Properties for Sale w/o Short Sale Contingent Status:  73    $94,900 - $1,497,000
Sale Sale Contingent/Pending Lender Approval:         88   $139,000 - $720,000
Properties Sold in September 2012                              71   $120,000 - $865,000
Properties Sold in October 2012                                  76   $150,000 - $830,000

October Sold Homes by Number of Units per Price Bracket:
$100,000's - 4     $200,000's - 21     $300,000's - 20
$400,000's - 21   $500,000's - 6       $600,000's - 3
$700,000's - 0     $800,000's - 1       $900,000+   0


AMERICAN RIVER CANYON NORTH                        

Property Sales:  4 homes closed escrow in October, down 1 from last month's 5 homes, but up by 2 from October 2011.

Prices:  The Average Sales Price (ASP) for October was $548,600, down from September 2012 ASP of $600,400, and down from October 2011 ASP of $613,750.

Inventory and Month's Supply of Inventory (MSI):  The available inventory is still low.  There are currently 6 available homes (4 equity sales & 2 short sales).  With 6 available properties and 4 closing escrow last month we have a 1.5 months supply of available inventory.

Average Dollar Per Square Foot for Sold Homes:
September 2011 - $127     September 2012 - $158
October 2011 - $145         October 2012 - $141

Click HERE for October 2012 Market Overview

Changes to the ARC North Market since 10/1/12:
New Listings
  105 Mule Creek         $459,000  4 bed / 4 bath       2,793sf  Yr Blt 1988  Short Sale
  226 ARC Dr.              $649,000  5 bed / 3.5 bath   3,619sf  Yr Blt 1990   Investor Flip
  226 N Falls Dr            $695,000  4 bed / 3 bath      3,981sf   Yr Blt 2005  
  106 Cedar Ridge         $738,000  4 bed / 3 bath      3,994sf   Yr Blt 1990  Investor Flip
  148 Temperance Rvr  $876,500  5/7 bed / 4.5 bath 5,286sf  Yr Blt 2006  Pool
New Pending Sales
  361 Canyon Falls       $499,000  4 bed / 3 bath       3,173sf  Yr Blt 1990 
  115 Cascade Falls      $549,000  4/5 bed / 3 bath    3,621sf  Yr Blt 1989  Pool
  311 Canyon Falls       $595,000  4 bed / 3.5 bath    3,810sf  Yr Blt 1995  Pool
  236 Cascade Fals       $640,000  4 bed / 3 bath       3,232sf  Yr Blt 1989  Pool
New Sold/Closed with Sales Price
  248 ARC Dr            $495,000   3/4 bed / 2.5 bath   3,549sf  Yr Blt 2000  Bank Owned
  321 Canyon Falls    $529,000   5 bed / 4 bath         4,532sf  Yr Blt 1991  Short Sale
  135 ARC Dr            $570,400  5 bed / 3 bath         3,502sf   Yr Blt 2000  Short Sale
  243 Alabaster Pt     $600,000  4 bed / 3 bath          4,037sf   Yr Blt 2006

Robin's Marketing Minute:
Visit my website at www.RobinKaplan.com for home searches, mortgages calculators, Folsom/ARCN Market Updates, Buyer/Seller Information, plus much more+
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