Folsom
Property Sales:
February property sales were 60, up 9.1% from 55 in February of 2014, and 30.4% higher than the 46 sales last month.
February 2015 sales were at a mid level as compared to February of 2014 and 2013.
February YTD sales of 106 are running -4.5% behind last year's year-to-date sales of 111.
Prices:
The Median Sales Price in February was $428,000, up 9.7% from $390,000 in February of 2014 and up 2.6% from $417,250 last month.
The Average Sales Price in February was $434,411, up 3.6% from $419,319 in February 2014 and down -0.6% from $436,988 last month.
The February ASP was at it's highest level as compared to February 2014 and 2013.
Inventory & Month's Supply of Inventory:
The total inventory of properties available for sale as of February was 133, down -5.% from 140 last month and down -25.3% from 178 in February of last year.
Currently, there is a 2.2 month supply of inventory.
Average Dollar Per Square Foot - Sold Homes:
2015 2014 2013
Jan $210 $193
Feb 212 217
March 209 178
April 206 178
May 220 195
June 211 198
July 211 166
Aug 218 211
Sept 215 211
Oct 213 211
Nov 216 203
Dec 210 201
Stats for February 2015:
Properties for Sale w/o Short Sale Contingent: 135 $148,800 - $1,190,000
(139 in Feb 2014)
Short Sale Contingent / Pending Lender Approval: 13 $265,000 - $ 650,000
(37 in Feb 2014)
Pending Sales: 105 $200,000 - $ 998,000
(106 in Feb 2014)
Sold in February 2015 60 $168,500 - $ 785,000
(51 in Feb 2014)
February Sold Homes by # of Units Per Price Bracket:
$100,000's - 1 $200,000's - 8 $300,000's - 11
$400,000's - 22 $500,000's - 14 $600,000's - 2
$700,000's - 2 $800,000's - 0 $900,000+ - 0
FOLSOM MARKET REPORT
American River Canyon North
February property sales were 60, up 9.1% from 55 in February of 2014, and 30.4% higher than the 46 sales last month.
February 2015 sales were at a mid level as compared to February of 2014 and 2013.
February YTD sales of 106 are running -4.5% behind last year's year-to-date sales of 111.
Prices:
The Median Sales Price in February was $428,000, up 9.7% from $390,000 in February of 2014 and up 2.6% from $417,250 last month.
The Average Sales Price in February was $434,411, up 3.6% from $419,319 in February 2014 and down -0.6% from $436,988 last month.
The February ASP was at it's highest level as compared to February 2014 and 2013.
Inventory & Month's Supply of Inventory:
The total inventory of properties available for sale as of February was 133, down -5.% from 140 last month and down -25.3% from 178 in February of last year.
Currently, there is a 2.2 month supply of inventory.
Average Dollar Per Square Foot - Sold Homes:
2015 2014 2013
Jan $210 $193
Feb 212 217
March 209 178
April 206 178
May 220 195
June 211 198
July 211 166
Aug 218 211
Sept 215 211
Oct 213 211
Nov 216 203
Dec 210 201
Stats for February 2015:
Properties for Sale w/o Short Sale Contingent: 135 $148,800 - $1,190,000
(139 in Feb 2014)
Short Sale Contingent / Pending Lender Approval: 13 $265,000 - $ 650,000
(37 in Feb 2014)
Pending Sales: 105 $200,000 - $ 998,000
(106 in Feb 2014)
Sold in February 2015 60 $168,500 - $ 785,000
(51 in Feb 2014)
February Sold Homes by # of Units Per Price Bracket:
$100,000's - 1 $200,000's - 8 $300,000's - 11
$400,000's - 22 $500,000's - 14 $600,000's - 2
$700,000's - 2 $800,000's - 0 $900,000+ - 0
FOLSOM MARKET REPORT
American River Canyon North
Property Sales: 3 total - Unchanged from 3 in January
163 ARC Dr 2736 sf / 4 bed / 3 bath / pool / 2 story / yb 1989 $580,000
241 ARC Dr 4185 sf / 5 bed / 3.5 bath / pool / 2 story / yb 2003 650,000 Short Sale
259 Alabaster 3705 sf / 5 bed / 4.5 bath / pool / 1 story / yb 2006 775,000
Prices - Average Sales Price / Dollar Per Square Foot:
2015 2014 2013
Jan $729,100 / $194 $545,000 / $176
Feb 668,333 / 192 637,500 / 212
March 709,995 / 187 582,750 / 158
April 654,098 / 180 601,475 / 168
May 765,000 / 172 655,000 / 168
June 629,125 / 206 622,750 / 187
July 633,725 / 173 644,800 / 168
Aug 643,250 / 182 561,250 / 202
Sept 680,000 / 206 639,500 / 158
OCT 660,833 / 179 575,000 / 168
Nov no sales 517,400/ 140
Dec no sales no sales
Pending Sales: 6 total - Up 1 from 5 in January
136 Cascade F 3438 sf / 5 bed / 4 bath / pool / 2 story / yb 1988 $545,000 Short Sale
145 ARC Dr 2943 sf / 4 bed / 2.5 bath / / 2 story / yb 1988 564,900
137 Cascade F 2606 sf / 3 bed / 2 bath / pool / 1 story / yb 1988 595,000
147 Tomlinson 3186 sf / 4 bed / 3.5 bath / / 2 story / yb 1990 599,000
168 Temperance 3578 sf / 5 bed / 3.5 bath / pool / 2 story / yb 2005 669,000 Short Sale'
328 Canyon F 4610 sf / 5 bed / 5 bath / pool / 2 story / yb 1997 724,900
Available Inventory: 9 total - Up 2 from 7 in January
Please visit my website RobinKaplan.com to search for properties, use mortgage calculators, tons of Seller & Buyer information, Market Updates, plus much, much more!
The Challenges of Pricing Your Home |
| Why is it that some homes sit on the market for a year while others sell like hot cakes? Frustrated sellers will blame a bad market, while a good real estate professional will tell you that many times, a slow sale is often attributed to the listing price.
If a home is overpriced, buyers will stay away. But, if the price is competitive with similar homes in the area and “shows” better than the competition, it will have a better chance of being sold quickly.
The secret is perfecting a technique that’s as American as apple pie: comparative shopping.
Although comparing houses with different styles, square-footages and locations is challenging, real estate professionals still feel it’s one of the best methods to use when determining a home’s market value.
A responsible real estate agent will effectively evaluate a home’s worth through a process known as Comparative Market Analysis (CMA). Taking a look at assets, such as a swimming pool, bigger than normal living spaces, a fantastic view, adjacent city parks and other attractions, the agent will begin to compare your home with similar properties, called “comparables,” that have sold in the area within the last six months. Typically, it is a realistic price range that will ensure you top dollar and a reasonably quick sale.
However, factors such as the amount of time needed to sell your home can affect the agent's price recommendation dramatically.
I can determine the typical duration that listings are on the market and can explain that the marketing “norms” vary with prices and properties. Based on this criteria, we will be able to sell your house for a price that both you and the buyer will be happy with. However, if you’re under time constraints because of unexpected job changes or moving agreements you’ve made on another property, this will narrow your chances of selling the home for top dollar in the market.
Assuming you have sufficient time to market the home, here are a few small steps you and your agent can take to finding the right price for your property.
The best comparisons can be made with similar homes that have been sold within the last 45 days as opposed to the standard six months. Any longer, and other factors, such as the economy, could cloud your view of how much your home is really worth.
Another good benchmark is to review the selling prices of homes that have just been sold and are pending closes. Most MLS services provide information on deals pending that most real estate agents should be able to share with you.
A good rule of thumb before setting a price is to make 20 comparisons of comparable properties within a one-mile radius of your house. Once completed you can feel comfortable that the price you’ve picked is a good gauge of the home’s worth and won’t discourage qualified buyers.
Being open and honest about what you see as the home’s greatest strengths and biggest weaknesses will also help your agent get a better feel for how to best evaluate (or assess) and market your home. Think of your home as if you were the buyer. If your home is listed at the right price, you’re well on your way to a speedy and fruitful sale.
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