FOLSOM, CA HOME SALES DATA – MARCH 2014
The purpose of this post is to provide market data those interested in the Folsom, CA housing market. The data presented covers March 2014, and the preceding fourteen months.
If you would like to view all homes for sale in Folsom CA at this time, select this link. You will have to take two additional steps. Scroll down and check the Folsom box on the left side of the page and select either the Search Now button over either the List Your results button or Map Your results button at the bottom of the page.
The first chart lists the cost-per-square-foot for all homes sold in Folsom by month.
Note the steady upward movement on the chart through October of 2013 and the drop for the three winter months which are historically slow selling months. What is mildly surprising is the large jump in February which is traditionally one of the slow real estate selling months. The March number indicates that we are back to increasing prices. Note that the March number represents an increase of 13.8% over the March 2012 number. It also represents a 19.1% increase in the past fifteen months.
The new challenge for buyers is to find any home that they can buy. Select the link above if you wish to view all homes for sale in Folsom right now (this data is updated several times a day).
The second chart shows the number of months of inventory available (the number of homes for sale divided by the number of homes sold each month). The March inventory level was at a 1.9-month supply, a drop from the previous two months. Sellers are reentering the market as prices climb back into their comfort zone.
As prices continue to increase, more sellers will enter the market. Pundits tell us that a six-month inventory is a neutral market. Therefore, we can see that the Folsom market has been a seller’s market during the entire fifteen-month period covered by these charts.
The third chart shows the average days on market, the length of time it takes the average house to sell. The average home sold in 40days in March, the third longest that the average home has been on the market in the past fifteen months. We expect this number to drop as we enter the high volume selling period April – September.
The average home sold for 97% of the asking price in March. Sellers have been getting very close to their asking price for some time. Folsom real estate remains an excellent investment.
If you would like to see this data for other cities and towns in our area, feel free to contact us at (916)337-0658 or e-mail Mike@BuyYourVilla.com.
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