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Folsom / American River Canyon North Market Update - November 2012

Folsom

Property Sales:  November property sales totalled 88, up 1.2% from 86 in November of 2011, and 11:5% higher than the 76 sales last month.  November 2012 sales were at their highest level compared to November 2011 and 2010.  November year-to-date (YTD) sales of 929 are running
-1.2% behind last year's YTD sales of 940.

Prices:  The Median Sales Price in November was $340,000, up 19.1% from $285,000 in November 2011 and down -4.9% from $357,500 last month.  The Average Sales Price in November was $345,258, up 15% from $300,297 in November of 2011 and down -6.4% from $368,854 last month.  November 2012 ASP was at a mid range compared to November 2011 and 2010.

Inventory & Month's Supply of Inventory (MSI):  With 88 homes sold lasts month and 59 homes currently available in Folsom, we have less than a one month supply of available inventory.  Most sellers are still receiving multiple offers.

Average Dollar Per Square Foot for Sold Homes:
October 2011  -    $156       October 2012   -  $169
November 2011 - $153       November 2012 - $167

Stats for November 2012:
Properties for Sale w/o Short Sale Contingent Status:     59        $89,000 - $1,497,500
Short Sale Contingent/Pending Lender Approval            76      $200,000 -    $599,000
Properties Sold in October 2012                                      76      $150,000 -    $830,000
Properties Sold in November 2012                                  88         $83,500 -   $769,000
Current Pending Sales                                                    129         $80,000 -   $949,000

November Sold Homes by Number of Units per Price Bracket:
$100,000's - 9     $200,000's - 26     $300,000's - 27
$400,000's - 19   $500,000's - 4       $600,000's - 2
$700,000's - 1     $800,000's - 0       $900,000+ - 0

AMERICAN RIVER CANYON NORTH

Property Sales:  2 homes closed escrow in November, down 2 from last month's 4 homes, but up from 0 in November 2011.

Prices:  The Average Sales Price (ASP) for November was $501,125, down from October 2012 ASP of $548,600.  There is no comparison for November 2011 as there were no sales that month.

Inventory and Month's Supply of Inventory (MSI):  The available inventory is still extremely low.  There are currently 6 available homes (5 equity sales & 1 short sale).   With 6 available homes and 2 homes closing escrow last month we have a 3 month supply of available homes.

Average Dollar Per Square Foot for Sold Homes:
October 2011   -   $145        October 2012   -   $141
November 2011 - No Sales  November 2012 - $135

Click HERE for November 2012 Market Overview

Changes to ARC North Market since 11/1/12:
New Listings:
  103 Tomlinson      $569,900  4 bed / 3 bath   3,398sf  Yr Blt 1989  Pool   Investor Flip
New Pending Sales
  275 ARC Dr.        $508,888   4 bed / 3.5 bath 3,830sf  Yr Blt 1991 Pool
  226 ARC Dr.        $649,000   5 bed / 3.5 bath  3,619sf  Yr Blt 1990          Investor Flip
New Sold/Closed with Sales Price
  171 ARC Dr         $453,250   4 bed /3.5 bath  3,828sf  Yr Blt 1989 Pool  Short Sale
  115 Cascade Falls $549,000  4/5bed / 3 bath  3,621sf  Yr Blt 1989 Pool

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Visit my website at www.RobinKaplan.com for home searches, mortgage calculators, Folsom/ARC North Market Updates, Buyer/Seller Information, plus much more!
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