May 2011: Folsom Homes For sale inventory continues to shrink, while average home price shrinks

Some real estate trends became even more evident with the recent release of the Folsom May home sales statistics by Trendgraphix—a real estate market research company—that provides, among other things, some detailed monthly data on real estate markets by zip code.

At 192 single family residences for sale during May, the clear trend is that the for-sale housing inventory in Folsom is shrinking. The high mark during the past 15 months was 274 homes for sale back in October 2010. On the other hand, the number of homes that went pending, 117, continues a determined upward swing from a low of 49 back in December. That 117 number represents a 112.7% increase over a year ago. Yet the number of homes sold, 74, represents a 13% drop from a year ago.

Here are some quick May 2011 numbers for Folsom:

• Average price per square foot: $155.8
• Average days on market: 70
• Months' Inventory on sold: 2.6
• Average Sold Price: $323,000
• Total homes sold: 74
• Total bank-owned-homes sold: 17
• Total short-sale-homes sold: 17
• Total regular-sale-homes sold: 40

For the visually oriented (like myself), I’ve included the graph showing the number of homes for sale, sold, and pended for each month from March 2010 to May 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, no obligation and with a smile!

That’s it for today’s wrap up of the Folsom market numbers for May 2011. Interested in numbers for another zip code? Just let me know and I’ll send them offline.

all4now

Homes sold, pended & homes for sale in Folsom Feb 21-27

Today, it’s a quick look at real estate activity in Folsom for the week of February 21-27. This represents new listings, homes that went pending (i.e., into escrow), and homes sold. This information is pulled from MetroList, our local multiple listing service provider. Various broker members of the MLS are involved in these new listings/sales.

⌂     New listings  35

⌂     Pended listings  19

⌂     Sold  10

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