Folsom's Year end statistics

As I finished working with one of my buyers today I noticed another agent researching the statistics for the year when she said aloud "there's only 144 homes for sale in Folsom!"I was a little taken back by that number and asked if she was including condos in the mix. She re-submitted the search and found there were only 163 homes for sale in Folsom. Hummmmm...I had run the same search last night and came up with 326 and then remembered that I included the short sale contingent homes.The bottom line is that currently in Folsom, CA clearly 50% of our inventory is already spoken for and tied up waiting for the banks to make a decision.

So for those buyers who are sitting on the fence wondering if this is a good time to purchase a home, you need to consider that fact that the inventory is half of what it was in the seller's market of 2004. Interest rates are at an all time low and banks are making it more difficult to qualify for a loan so if you find yourself thinking about writing an offer do it before the property gets sold from underneath you. Some other interesting statistics from 2009 are: The total amount of homes sold in Folsom, CA in 2009 was 776 with an average price of $368,233. Currently the number of pending sales are 105 with the average price at $357,035. Happy New Year!