We have been relatively hopeful about Folsom throughout this real estate market decline and we continue to be even now. Folsom seemed to escape the worst of this decline and seems to be recovering better and faster than other places in Sacramento county.

May was a good month for the city of Folsom. 88 homes sold in the month of May in the area, as compared with 61 homes a year ago, an overall unit volume increase of 44.3% year over year. Perhaps the most significant difference was the increased short sale inventory of 144.4% year over year. Foreclosure sales remained almost the same and non-distressed property sales increased by 36.1% year over year. Good news overall.

Average price per square foot is now $171.21 down 3.5% year over year from a high of $177.33. Average sales price fell 7.7% for the same period from $373,817 to $344,866 currently. Median sales price remained almost the same as last May at $352,500.

Folsom’s inventory is at a very steady 5 months.

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