Market Trends and Home Prices for Folsom CA, August, 2014
Real estate market data for Folsom CA provided by David Vandermyden of Pacific Coast Group, KellerWilliams
Folsom CA Area Home Prices
We have seen home prices increase by a total of 8.6% over the past 15 months. The number of homes for sale has increased by 71.1% over the same period. Since 12/2013 we have experienced and increase in new homes on the market. Over the same period number of homes sold has decreased by 7.8% for the Folsom region. Distressed property sales are holding constant at approximately 6.3% of total sales. To check your neighborhood market trends go to www.MyTrueHouseValue.com. Price increases are slowing and in some communities have remained flat over the past three to four months. If you are considering buying a home you can find deals on a house in the Sacramento Metro area. Having a good real estate agent who understands the market is a must. Don’t wait on the sidelines for too long, some of our listings still sell within a few days of hitting the market. As you can see from the graph below, listings continue to sell on average in 39 days. To make sure you don't overpay for your home, you'll want to have an agent that does a thorough market analysis of the Folsom area home on which you are making an offer.
If you are interested in how much current inventory is on the market in Sacramento you can find that information at www.SacramentoAgents.com . Inventory is increasing and is about 26% over last year at this time and suggest that homes are sitting on the market longer. Currently in the Sacramento metro area, homes have a average time of 39 days on the market before they sell. This would suggest that buyers are in a great position to make an aggressive offer on a home. Sellers should make sure to price their home near the market value if they expect to get an offer from one of those interested buyers. In some areas and price ranges low inventory in Folsom has multiple offers coming in on homes similar to what we saw back in 2005. I wouldn't expect home prices to run up quite as fast as they did back then as banks have gotten a lot stricter on lending guidelines and are no longer giving a loan to anyone with a pulse.
Market Trends For Folsom CA
Folsom Real Estate Report Summary
The average list price in July for single family homes in Folsom is $520,000.
The list prices decreased by .9% from the previous month.
The price per square foot for listings in the area is $213.
The average sale price in July for single family homes is $468,000.
The sale prices increased by 8.6% from July 2013.
The number of months of inventory is 2 months and 42.9% increase from July 2013
Find Homes for Sale and Sold in Folsom CA
Visit our website at www.SacramentoAgents.com to search for homes in the Folsom Region or to be notified when Folsom homes come on the market.
To find out what your home is worth go towww.MyTrueHouseValue.com.
Any questions email me at Davidav@kw.com or call 916-787-1200.
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