Folsom Real Estate Market Update
Folsom’s October real estate sales numbers were fairly typical for the Sacramento area. At 81 units sold in October through the MLS, unit volume was down somewhat from last October’s total of 105 units sold. The average sale price was $532,853, or 99% of the average list price of $538,354. The median sale price was $499,000.
Last October the average sale price was $460,658, so using this figure, homes appreciated 15.7% from October to October. However the average cost per square foot increased from $226 last year to $264 this year, a 16.9% increase.
Average days on market are higher this year (32) than last year (25), but this year’s number is favorable compared to many local markets. Inventory is fairly high, but much of this may be seasonal. Current inventory is 5 months.
