Folsom Real Estate Market Update: July 2009
A total of 76 homes sold in the Folsom area of Sacramento county in July. Not a terrific showing as unit volume fell by 13.6% year over year. Foreclosures gained however: a total of 25 foreclosed homes sold this July over just 16 last July, an overall increase of 56.3% year over year. Short sales - on the other hand - as well as non-distressed homes fell 22.2% and 30.2% respectively year over year.
Average sold price per square foot has not changed much since last month. It is currently $176.48 down 13.5% year over year from a high of $203.97. Average sales price is currently $365,587 down 16.6% from $438,247. Median sales price is $355,500. Interestingly enough, the average home sold this July was also 3.6% smaller than the average home sold last July, so the more accurate measure here is the average price per square foot.
Inventory in Folsom is at 5.5 months based on the last 12 months of sales and 5.1 months based on the last 6 months of sales. Foreclosure inventory is at 1.2 months no matter how you look at it.
