American River Canyon North / Folsom Market Update

14SACJanuaryArticle

American River Canyon North 2013 Year End Review How did 2013 compare with the past 5 years? The number of homes sold in 2013 is down -17% from the previous high of 37 homes sold in 2012.  Short sales and bank owned properties have not represented the majority of home sales in ARC North since their high in 2008 and 2009. With the increased market activity that we have seen in 2012 and 2013, I believe that 2014 will see homes values continue to increase gradually due to low inventory. The Average Days on Market in 2013 has continued to be a strong indicator of low inventory with only 34 days average, far better than the 93 days in 2011. If you are considering selling in 2014:     In my 20 years of experience in "The Canyon", the sellers who obtain the best prices and receive an acceptable offer in the least amount time are the property owners who prepare their home for market and list with an experienced real estate professional who will provide...

FOLSOM Property Sales:   December property sales were 62, down -26.2% from 84 in December of 2012 and -13.9% lower than the 72 sales last month.   December 2013 sales were at their lowest level as compared to December of 2012 and 2011.   December YTD sales of 1,068 are running 5.1% ahead of last year's year-to-date sales of 1,016. Prices:   The Median Sales Price in December was $390,000, up 10.6% from $352,500 in December of 2012 and up 1.2% from $385,500 last month.   The Average Sales Price in December was $385,541, up 2.6% from $375,754 in December of 2012 and down -4.8% from $405,098 last month.   December 2013 ASP was at it's highest level as compared to December 2012 and 2011. Inventory & Month's Supply of Inventory (MSI):   With 62 homes sold last month and 114 homes currently available in Folsom, there is 1.9 month supply of available homes.   The number of available listings is 114, down 25% from 156 last month and down ...