Sales have definitely slowed in Folsom and perhaps this is a harbinger of a more normalizing market. We’ll have to watch and see what it means but overall unit volume has dropped 25.6% year over year! Only 61 homes sold in Folsom in the month of May with declines in foreclosure sales (15.8%) and non-distressed sales (33.3%) and no change in short sales.

Sold price per square foot currently rests at $177.33. That is a 12.1% drop from last May’s $201.71. The average sales price has also toppled 14.6% year over year to rest at $373,817. Last May, it was $437,844. The median sales price is Folsom is currently $350,000.

Inventory in Folsom is at 5 months based on the last year of sales and 5.7 months based on the last six months of sales. Foreclosure inventory is one month no matter how you look at it.

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