FOLSOM, CA HOME SALES DATA – JUNE 2014
The purpose of this post is to provide market data those interested in the Folsom, CA housing market. The data presented covers June 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. Indications are that the red hot Folsom, CA market has cooled off a bit. The $213 cost per square foot number reported for June is the same as reported in May. They are tied for the second highest month in the past fifteen.
We had expected to see a trend of increasing prices through the summer selling season. However, if we are experiencing a plateau it is a good one.
Also note that the June number represents an increase of 8.9% over the June 2012 number. It also represents a 12.4% increase in the past fifteen months.
The real 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 each day and the best source of accurate market data).
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 June inventory level was at a 2.6-month supply, the highest it has been in years. Note that 72 homes sold in Folsom this month. 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 28 days in June. Although homes are not selling as quickly as they did last year the pace is picking up.
The average home sold for 98% of the asking price in June. Not as high as it was last year, but not far behind. 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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