79 homes sold in the city of Folsom this month, an overall unit volume increase of 43.6% year over year. Foreclosure inventory seems to be relatively higher in Folsom than it is elsewhere in Sacramento county. Whereas elsewhere in the county, foreclosure inventory hovers around a month, here in Folsom it is almost double that.

It is no wonder then that sold REOs continue to make up about 20% of all sold homes. Short sales currently make up 25% of all sales and the rest are attributed to non-distressed homes. The good news is that we are slowly beginning to see an increase in non-distressed sales as buyers long for less paperwork and easier home purchases without the lender being involved for approvals, as is the case in both short sales and foreclosure sales.

Average price per square foot is not $169.57 which is 7% lower than it was a year ago. Last March average price per square foot was resting at $182.25. Homebuyers this month also bought homes on average 9% bigger than they did last March. Average sales price as a result has climbed 1.4% over last year to rest at $378,232 from $373,185. However, the more accurate figure is price per square foot. Median sales price has also risen correspondingly to $375,000.

Inventory in Folsom is now at 4.9 months. Foreclosure inventory is at 1.9 months and short sale inventory is at 12.7 months based on the last year of sales and 10.7 months based on the last six months of sales.

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