Number of homes in escrow in Folsom spiked upwards in February

Finally, what looks like (dare I say it) some good real estate news in Folsom: In February, 110 homes that had been for sale went into escrow. That's a 93% increase from December '09 and a 77.4% increase from February 2010. This spike continues an upward trend that started in January when 78 homes went pending (up from the 49 in December).

Here's the latest graph from Trendgraphix Inc.—a real estate market research company.



Other key numbers:

• 47 homes sold in Folsom in February, down 32.9% from Dec. 2009 but we should see that number going up when current pended homes close escrow.
• Median sales price in February: $336,000. That's down 3.7% from a year ago and down 12.7% from Dec. 2009
• Average price per square foot: $153, this is down from $177 a year ago.
• Average days on the market: 104. Homes are definitely taking longer to sell. Chalk that up to the number of listings that are short sales. A year ago, the average days on market was 86.
• Sold/Original Listing Price difference: 93%. No difference here from a year ago.

These numbers reflect properties sold by various member brokers of MetroList, our local multiple listing service.

If you'd like a breakdown of these numbers for regular sales versus short sales versus foreclosures, just drop me a line.

all4now