The market remains strong with some signs of the usual seasonal slowing at this time of year. It's taking slightly longer to sell than a couple of months ago. The sales to original price has declined slightly but the average sold price ($506,000) has remained steady with no change from last month to this month. Current price per sq. ft. is at $238, up 1.7% from last month. Inventory as usual remains low at 1.6 months. Average days on the market is up from 21 days to 27 days.
Generally speaking the lower end of the market is more aggressive than properties above $500,000. Interest rates have continued to remain low; analysts and investors are generally not expecting the Federal Reserve to raise its policy rate when they meet this week. Currently the 30 year fixed rate is at about 3.43% and the 15 year fixed rate is about 2.74%.
I look forward to hearing from you with any questions you may have.
Single Family Homes in Folsom - Current Month vs Previous Month
The current average sold price is $506.000, 0% change
The average price per square foot is $238.00, up 1.7%
Inventory is at 1.5 months, down 11.0%
Average days on the market is 27 days, up 28.6%
For Sale: 156, down 6.6%
Pended sales: 91, up 4.3%
Sold: 96, down 7.1%