Real Estate market snapshot today

Here is the quick Monday rundown on the current real estate market in Folsom and houses for sale here (as of February 7). These numbers reflect properties listed by a variety of broker members of our local MLS.

·         376—number of homes for sale (including short sales and bank-owned homes or REOs)

·         $299,00—median price of homes for sale

·         107—average days on the market

The numbers for the short sale listings:

·         191—number of short sales on the market

·         $272,000—median listing price

·         133—average days on the market

The numbers for the REO listings:

·         45—number of short sales on the market

·         $274,900—median listing price

·         46—average days on the market

The numbers tell the story. These numbers were pulled from MetroList, our local multiple listing service, yesterday afternoon. all4now

Folsom December 2010 Market Stats Up and Down

Today it's my monthly review of what the Folsom real estate market looked like last month, December 2010. Whether you are a home buyer or seller, I believe that the better informed you are the better your real estate decisions will be. So here goes.

As you'll see in the graph above, provided by TrendVision, in December, 238 homes were listed for sale in Folsom (that's for single family residences, if you want the numbers for condos, just drop me a line). That number was down slightly from November 2010 and up a whopping 55.6% from December 2009. Some 61 homes were sold in December, just one down from the previous month but down almost 13% from December '09. However, a big uptick on the number of homes that went pending (i.e., went into escrow): 83 homes in December 2010, up 45.6% from December '09, and up 22.1% from November 2010.

Price per square foot: In December 2010, the average price per square foot of homes sold was $162, that was slightly down from November ($164) and down 5.6% from December '09.

Average cumulative days on market: In December the average cumulative days on market was 96, up 33.3% from December '09.

Months' Inventory: In December, the months of inventory we had in Folsom was 3.9 months, continuing a downward trend from the high of 5.8 months in September but still well above the 2.2 months' of inventory we had a year ago.

And, finally, the big money question:
Median Sales Price: The median sales price in December 2010 was $320,000, down 13% from a year ago.

So there you go a quick snapshot of what the real estate market is doing in Folsom. all4now