January real estate statistics are in for Folsom market

The Folsom real estate statistics are in for January 2011. These numbers come from Trendgraphix Inc.—a real estate market research company. So let’s see what we have.

First, for the visually oriented, I’ve included the graph showing the number of homes for sale, sold, and pended for each month from January 2010 through January 2011. These numbers are specifically for single family residences. Just drop me a line if you would like to see the numbers for a different kind of property (i.e., condo, lot, income property etc.), and I’ll get those to you within 24 hours.

As you'll see in the graph above, in January, 231 homes were listed for sale in Folsom. This number includes foreclosures, short sales, and regular sales. That number is down slightly from the previous month and up 36.7% from January 2010. Some 45 homes were sold in January, down a 15.1% from January 2010. However, a huge uptick in the number of homes that went pending (i.e., went into escrow): 91, which is up 68.5% from January 2010.

Interesting to note that at 91 homes in escrow, that’s the highest number in at least a year. Could it be buyers are responding to the still low interest rates?

Quick January 2010 numbers in Folsom

Price per square foot: $161.60

Days on market: 77

Months' Inventory: 5.1

Average Sold Price: $343K

Because distressed properties are such a large component of the current market and have a significant impact on the numbers, I’m including a numbers breakdown by type of sale:

Type of Listing	REO	Short Sale	Regular Sale
# for sale	39	78	114
# new listings	21	37	42
# pended	22	42	27
# sold	13	11	21
Avg. sold price	304K	378K	350K
Sold/list Diff. %	99	99	97
Days on market	35	142	69

REO = Bank-owned property

That’s it for today’s wrap up of the Folsom market numbers for January. Please verify all information independently before making a decision on a home purchase.

Interested in numbers for another zip code? Just let me know and I’ll send them offline.

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