A total of 65 homes sold in Folsom this month with the number of sales pretty evenly divided between distressed and non-distressed sales. This is something we haven’t seen in a while and could just be a harbinger of a more normal (or normalizing) market. 21 of the homes that sold were foreclosure sales (that’s 32.3% of the total sales) 13 were short sales (20% of the total) and 31 were non-distressed homes (47.7% of all sales). Year over year, the change has been significant: foreclosure sales are up 91%, short sales are also up 160% and non-distressed sales are down 47.7%. Overall unit volume is up 10.2% for the same period.

Sold price per square foot is currently at $178.29 – that’s 9.5% lower year over year than $196.92. The average home in Folsom sold this month for $383,580 which is 10% under than last April’s average sale price of $425,622. The median sales price has also toppled 13.6% year over year from a high of $420,000 to rest at $363,000.

Inventory is at 4.7 months based on the last year of sales and 5.6 months based on the last six months of sales, which makes sense since we’re just coming out of winter. Foreclosure inventory is at 1.2 months and 1.3 months respectively.

Comments are closed.