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19 Dec

Folsom Real Estate Market

Posted December 19th, 2005 | View Comments

Folosm’s November real estate sales were typical of the region in general. Sixty-six homes sold in Folsom in November, down from 90 in November of 2004. The average list price was $530,337, with the average home selling for 99% of list, at $524,867. The median sale price was $502,500.

The average sale price increased 11.6% over the last year, but this year’s homes are smaller on average. The sold price per square foot increased 14.8% from November to November.

With 357 listings available, inventory currently stands at 5.4 months.

The number that most plagued Folsom sellers in November is one we’ve seen elsewhere as well — a large increase in the ratio of expired homes to sold homes. In November of 2004 that ratio was 3 exprieds to 90 solds, or 3.3%. This November, in contrast, the number has grown to 37 expireds to 66 solds, or 56.1%.

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