Folsom Homes for Sale and Feb 23rd to May 23rd 2007 Statistics

Folsom Homes for Sale

The number of homes for sale in Folsom has increased over the past 3 months. The average and median asking prices for Folsom homes have fallen during the same period. The least expensive home for sale in Folsom is a 1,001 square-foot home on Price way, which is listed for $298,500. The most expensive home for sale in Folsom is a 2,800 square-foot home on Mountain View Drive, which is listed for $1,500,000. To view these homes, along with all other homes for sale in Folsom, click Folsom homes for sale. To view homes in the nearby areas of Placer County, click Placer County homes for sale.

Folsom Homes Pending Sale

The number of homes pending sale in Folsom fell during the past 3 months. The average and median asking prices for homes pending sale in Folsom increased during the same period.

Folsom Homes Sold Between February 23rd and May 23rd 2007

More homes sold in Folsom during the 3 month period between February 23rd and May 23rd, 2007 than during the preceding 3 month period between November 23rd, 2006 and February 23rd, 2007. The average and median sales price increased as well, along with the average price per square foot. The least expensive home sold in Folsom during the period was a 797 square-foot fixer on Dean Way, which sold for it's asking price of $269,000. The most expensive home that sold in Folsom during the period was a 4,500 square-foot home in Hillcrest at Empire Ranch, which sold for $1,268,000 after asking $1,325,000. Days on market fell from an average of 63 days on market to 51. On average, sellers reduced their original asking prices less before receiving an offer and received a higher percentage of their asking price, once an offer was received. The number of months inventory increased slightly during the period, but is still below the bench mark of 5 months.

When compared to the same period in 2006, home sales increased for Folsom during the period between February 23rd and May 23rd, 2007. However the average and median sales price decreased, along with the average price per square foot. Average days on market has not changed much. On average, sellers had to negotiate more after receiving an offer, but had to reduce their asking price less before they received an offer.

Summary

Folsom seems to be bucking the trend for most of Sacramento. Sales are up when compared to last year and the preceding 3 month period. The number of listings has increased for Folsom, but the number of pending sales and solds has remained relatively high in comparison. Prices are down when compared to last year, but are up when compared to the preceding 3 months. Year over year the average and median sales prices are not off by much. Where the change in price is evident is in the price per square foot, which is down nearly 9%. This means that people are spending close to the same amount to buy a home in Folsom, but they are capable of buying a larger home for that same amount. Average days on market has fallen back to the levels that it was at last year during the same period. Sellers are not having to reduce as much from their original price in order to find a buyer and they are receiving a larger percentage of their asking price when a buyer is found. The inventory level has remained under the 5 month threshold, which means the market is still close to neutral. So long as sales continue at the current pace and the inventory of homes for sale in Folsom remains steady, Folsom will most likely remain in a neutral market.

If you are considering buying or selling a home in Folsom or if you have any questions regarding these statistics, please feel free to call us at 916-728-1981, e-mail us at pat@patandalison.com or leave a comment below.

Comments

[Alan Kroll]

Alan Kroll Says:

Your analysis of your market demonstrates a solid understanding of the trends in your area. This is a market advantage for your buyer and seller clients as they execute their real estate transactions with you. Keep up the good work!

[Patrick Hake]

Patrick Hake Says:

Thanks Allen