Folsom Real Estate Market
Though not immune to the overall market downturn, sellers in Folsom are in a much better position than their counterparts elsewhere in Sacramento County. Non-distressed sales still made up some 71.1% of all sales in July — more or less a mirror image of Sacramento County as a whole, where non-distressed sales comprised only 22.3% of the total.
Partly as a result of the relatively low number of foreclosures, prices in Folsom have fallen off less dramatically than in other areas of the county. Sold price per square foot fell 11.1% in Folsom from July to July, from $229.38 in 2007 to $203.89 in 2008. This July the average home sold in Folsom for $440,997, down 11.6% from last July’s year’s average of $498,793.
Although the increase in demand this year has been less dramatic than in other areas, unit volume has still increased 12.2% in Folsom, from 74 units sold in July of 2007 to 83 units sold in July of 2008. Even without a huge upswing in demand, however, buyers in Folsom have kept the inventory trimmed back nicely. Currently there are 5 months of inventory (based on 12 months of absorption), or an even more healthy 4.3 months of inventory if you look at the absorption for the last six months.
