Our bastion of security in the real estate market updates that Folsom used to be is not any more. Is that because homebuyers were waiting until the markets around it started to recover and then went in to buy? Who knows? But one thing is for sure: Folsom is taking its time recovering from the real estate slowdown and sinking prices.

A total of 68 homes sold in Folsom in the month of June. Of these 40 were non-distressed homes, 16 were foreclosure sales and 12 were short sales. Homebuyers seem to be losing interest in foreclosures as they suffered a decline in sales of about 30% year over year. Short sales gained 20% while non-distressed home sales also fell by 15% for the same period.

Average sold price per square foot is at $175.02, a few cents lower than last month and about 12% lower than last June. The average sold home was also about 3% smaller than that sold last year. The average sales price is at $357,483 – 14% lower than it was last June. Median price also fell, but not as drastically year over year. Median price is at $367,500 which is 3.4% lower than it was last June.

Inventory in Folsom is at 5.1 months based on the last year of sales and 5.3 months based on the last six months of sales. Foreclosure inventory is at 0.6 months no matter how you look at it.

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