Sacramento Real Estate Blog

Although we see a drop of 40% in REO sales, unit volume in overall real estate has gone up by 13.5% in Folsom year over year, a good sign that homebuyers are beginning to explore other avenues of buying homes besides REOs. Short sales (up 100% year over year) and non-distressed sales (also up 37% for the same period) are still priced inexpensively as shown by the price data.

Average sold price per square foot is now at $173.09 which is 9.2% under average sold price from last September. The average home in Folsom now sells for $378,440 as compared with its average price in last September when it would have fetched $425,514. That is a drop of $11.1% year over year. Median sales price is Folsom currently rests at $375,000.

Inventory in Folsom points to the last six months of increasing sales. Based on the last six months, inventory has shrunk to 4.7 months. If we look at the average of the last twelve months though inventory is at 5.2 months. Foreclosure inventory is at 1.5 months no matter how you look at it.