There might be good news on the horizon for Folsom dwellers, but it’s still too early to call. The numbers though seem to suggest a healthy market for home buyers. With the current real estate climate coupled with proximity to the rest of Sacramento county taking a toll on prices on homes in Folsom, buyers have enjoyed some bargains here. However, that could change very quickly – and Folsom is one of the areas where we will see it first.

Unit volume is down 9.1% year over year in Folsom. And we continue to see a nice balance between foreclosure sales and non-distressed sales. 20 foreclosures and 23 non-distressed homes sold in Folsom in December. The rest (7) were short sales. Non-distressed sales are down 46.5% however over last year, while distress sales have gained momentum. Foreclosures were up 122% and short sales up 133% year over year.

Sold price per square foot – the most reliable indicator of home prices – has fallen yet again from $212.19 to $182.68 currently. It is 13.9% under last December. The average sales price has also tumbled 12.9% over last year, from its high of $449,488 in December 2007 to $391,428 last month. That is however higher than November’s average sale price of $386,010. Median sale price year over year has also fallen from $380,000 to $361,450. That is a drop of 4.9%.

Inventory is at 4.5 months.

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