The Folsom real estate market is almost like two markets. It is divided by the foreclosed properties and the non-foreclosed properties. The activity for them are different.
|
|
Total Homes |
Non-Foreclosed |
Foreclosed |
|
Number For Sale |
194 |
172 |
22 |
|
Months of Inventory |
5.5 |
9.6 |
1.3 |
|
Average Price/Sq Ft |
$181 |
$192 |
$168 |
|
Last Year Price/Sq Ft |
$205 |
$212 |
$193 |
|
% Change |
-11.7% |
-9.4% |
-13.1% |
|
Average Sales Price |
$364,000 |
$405,000 |
$320,000 |
|
Median Sales Price |
$329,000 |
$382,000 |
$315,000 |
|
Original Sales Price$/List Price$ |
91% |
90% |
92% |
|
Days On Market |
86 |
108 |
63 |
While it does not look like it from the graph above, Folsom does have its share of distressed properties. Of the single family homes on the market today(263), 40% of them (104) are either foreclosed homes or short sales. And when I look at the stats, there are 105 vacant homes for sale here in Folsom.
Traditionally we see more homes go on the market in the spring. I am not sure we will see a large upturn, any traditional seller who puts their home on the market this year, will have to be as competitively priced as the distressed homes. Needless to say this will be a buyer's market this summer
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