Folsom CA Home Statistics for 2008
December 28th, 2008 categories: Folsom CA, Real Estate
Inventory count for the final quarter of 2008
It’s that time of year again when I go through the MLS and gather the figures that reveal the pulse of real estate in Folsom CA for 2008 and I find we’re holding our own in terms of sales and inventory. Currently there are 252 active homes for sale in Folsom which includes all units including condos. There are 75 pending sales and 36 contingent sales pending a close of escrow. Believe it or not by comparison it’s a pretty average year for a community of just under 70,000 people. Our numbers were pretty close to that in 2001 and dipped much lower in 2004 so all things considered we’re doing well.
The highest number of homes sold between $300,000-$350,000 which tells you that Folsom is much more affordable than previous years when the average price hovered just below $400,000, currently the median price. The average days on market was 54 and as of today there have been 744 homes sold in Folsom CA for 2008. Not surprising is the fact that Remax Gold ranked number one for sales in both volume and listing count for Folsom this year. Personally I held my own and fell in the middle in terms of sales volume but can say that once again I made Master’s Club in 2008 although I am a life member.
So what does all this mean in light of the current economic situation? Once again we are starting to see the investors showing up, and I’m not talking about the folks who want to flip properties and make quick cash. I’m talking about real investors who view real estate as a long term investment. There are neighborhoods where with the usual 25% down you can purchase a nice home that will cash flow. This provides a strategy to build wealth secured by real property (and personally I’ve always liked owning the dirt!) So my forecast is to save your pennies and plan on doing some shopping this year…seems that’s what the smart money is doing.
