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American River Canyon North / Folsom Market Update for May 2012

FOLSOM :  The $450,000 and under market continues to see multiple offers and very low inventory.  Desperation is creating a market where some buyers are unfortunately starting to waive many of their protective contingencies in order to be the winning bidder on these homes. The short sales have skewed our MLS stats due to the fact that there are two kinds of statuses for short sales in our MLS; the active short sale and the active short sale contingent (Indicating the seller has accepted an offer and is working with their lender for approval of the short sale. These homes are not truly available & are not being shown).    Our current available inventory for Folsom is 191 homes which include the "contingent short sales" because they continue to show in the "active" status of the MLS.  But if you remove the "contingent" status, there are really only 71 homes currently active on the market in Folsom, and that's less than a one mo...
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Fast Facts from the California Association of Realtors

Fast Facts Calif. median home price : March 2012: $291,080 (Source: C.A.R.) Calif. highest median home price by region/county March 2012: San Mateo, $677,900 (Source: C.A.R.) Calif. lowest median home price by region/county March 2012: Tehama, $108,000 (Source: C.A.R.) Calif. Pending Home Sales Index : March 2012: 143.7, an increase from the revised 126.5 recorded in February. Calif. Traditional Housing Affordability Index : First quarter 2012: 56 percent (Source: C.A.R.)
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American River Canyon North / Folsom Market Update for April 2012

FOLSOM:   The under $450,000 market continues to see multiple offers and low numbers of available homes.  Offers to purchase slow down over the $450,000 price point, but this has been a very active spring in the Folsom real estate market.  Buyer traffic has been good in all price ranges and many buyers are ready to make offers.  The number sales in the $400,000 to $600,000 is up substantially over past months.  There currently is a 1.5 month supply of available homes in Folsom which indicates an increasing overall trend. Housing Stats for April 2012* Current Properties for Sale                213       Price Range:  $90,000 - $1,150,000 Properties Sold in March                     71         ...
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