American River Canyon North / Folsom Market Update

FOLSOM : Property Sales :   August property sales were 93, up 6.6% from August 2011 and  higher than the 67 sales in last month. August 2012 sales were at their highest level compared to August 2011 and 2010.  August YTD sales are running 2% ahead of last year's year-to-date sales.  Prices:   The Median Sales Price in August was $344,000 up 10.3% from $312,000 in August of 2011 and down 2.7% from $353,500 last month.  The Average Sales Price in August was $359,631, up 11% from $323,634 in August of 2011 and down 1.5% from $364,944 last month. Inventory & Month's Supply of Inventory (MSI):   With 93 homes closing escrow last month and only 85 available homes in Folsom we have less than a one month supply of available homes.  A low MSI is more beneficial for sellers and the current sellers in Folsom are definitely in control of their sales with multiple offers being written on their homes. The dollar pe...

FOLSOM:   Another busy month for buyers and sellers in July.  The overall number of homes sold in July is down from June, but so is the available inventory.  Most homeowners $450,000 and under are still receiving multiple offers within days of going on the market. When was the last time we saw interest rates in the 3's?  Buyers understand this are looking to take advantage of the cheap loans available right now and the lack of available homes is driving up prices slightly.  The majority of homeowners are not seeing their home values drop and instead are steadily on the increase.  There is a 2.16 month supply of available homes in Folsom. Look below at the July Sold Homes by number of units and you will see the homes which are selling are more evenly spread across the price ranges instead of the bulk of sold homes being in the $200,000 to $300,000 price ranges as in previous months.  This may be a good indicator th...

FOLSOM :    Folsom and the surrounding areas are still seeing multiple offers under $450,000.  However, I am starting to sense a slight pull back from buyers who have taken a beating trying to compete in this price range, and some buyers are reconsidering if they want to continue to pursue properties in this competitive real estate market. The market activity continues to be brisk, but the number of solds decreased by 11 homes overall between May and June.  The inventory of available homes is still low and there is a 1.77 month supply of homes available in Folsom. The dollar per square foot average for sold homes in Folsom: June 2012       $162.31 June 2011       $151.48 Housing Stats for June 2012* Properties for Sale w/o Active Short Sale Contingent Status:     79     $170,000 - $1,100,000 All Properties Showing Activ...

129 Marble Canyon Drive, Folsom CA 95630, USA - Virtual Tour

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...

Sit back and enjoy! 319 American River Canyon Drive, Folsom CA 95630, USA - Virtual Tour

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.)