Folsom Real Estate Market Update: July 2010
Sales volume in Folsom as elsewhere in Sacramento county has dropped considerably. It might be safe to call this year the slowest year in real estate since we started tracking numbers. Overall unit volume declined 31.6% year over year with sales dropping from 76 last July to just 52 homes sold this July. Foreclosure sales and non-distressed properties both dropped - the former fell by 52% while the latter by 29.5% year over year. Short sales increased by a small number - 2 more short sales this July over last July. Almost 3 out of every 5 homes currently sold are now non-distressed sales.
Average sold price per square foot in Folsom declined 6% year over year. From a high of $176.48 last July, it now rests at $166.08 this July. Average sales price fell 4% correspondingly to rest at $350,840 from a high of $365,587. Median sales price is now $351,450. Last July it was almost the same at $355,500.
Inventory in Folsom is around 4 months. Foreclosure inventory is around 1 month. Short sale inventory is the largest at right around 9 months.
