Folsom Real Estate Market Update
In May we were able to report — based on inventory at least — that Folsom had entered seller’s market territory, with inventory of only about four months of non-distressed sales, and 3.8 months overall. This month’s inventory is up somewhat but still healthy, at 5.1 months for non-distressed sales and 4.9 months overall. Eighty homes sold in Folsom in June, one unit more than during the same time last year.
This June, the average home sold in Folsom for $415,797, 19.6% less than last year’s average of $517,470. Sold price per square foot fell 16.4% during this time, from $237.09 in June of 2007 to $198.30 in June of 2008.
Non-distressed sales accounted for 58.8% of all sales in Folsom in June. Bank owned properties accounted for 28.7% of sales, with short sales bringing up the rear at 12.5%.
Unit Volume Data
| Units Sold | June, 2007 | June, 2008 | Change | |
| Foreclosures Sold | 5 | 23 | 360.0% | |
| (% of total units) | 6.3% | 28.7% | ||
| Short Sales Sold | 2 | 10 | 400.0% | |
| (% of total units) | 2.5% | 12.5% | ||
| Non-distressed Sold | 72 | 47 | -34.7% | |
| (% of total units) | 91.1% | 58.8% | ||
| Total | 79 | 80 | 1.3% | |
Price Data
| Prices | June, 2007 | June, 2008 | Change | |
| Sold Price / Square Foot | $237.09 | $198.30 | -16.4% | |
| Average List Price | $526,894 | $427,683 | -18.8% | |
| Average Sale Price | $517,470 | $415,797 | -19.6% | |
Inventory (Based on 12 months of prior sales)
| Sale Type | Average Sales Per Month | Active | Months of Inventory |
| All Sales | 59 | 311 | 5.2 |
| Foreclosures | 11 | 20 | 1.8 |
| Short Sales | 4 | 85 | 20.0 |
| Nondistressed | 44 | 206 | 4.7 |
Inventory (Based on 6 months of prior sales)
| Sale Type | Average Sales Per Month | Active | Months of Inventory |
| All Sales | 63 | 311 | 4.9 |
| Foreclosures | 16 | 20 | 1.2 |
| Short Sales | 6 | 85 | 13.1 |
| Nondistressed | 40 | 206 | 5.1 |
