Folsom Home Pricing for June 2016
Folsom home price trends remain above $230/sqft. A small drop from last month, .4% we are still higher than this time last year by 7.4%
I sound like a broken record (does anyone even remember those) but the lack of inventory has fueled the higher pricing trends. As I said in my previous post, Folsom’s Inventory Has Flipped, I am seeing a slight change in inventory with more homes being available than are pending. If this continues we may see the price trend stay where it is and not move up. It would take a LOT of additional inventory to make the pricing trend move downward, or a smaller amount of buyers.
How does this effect you? Are you on the fence to buy, due to possible pricing decreases? If you are a buyer, make sure you are going to remain in your home that you purchase at least 5 years. Choose a good floorplan and good location. If you buy smart a slight decrease in home prices you should be able to handle. If you are considering selling your home, be sure to stage your home, use professional photographs and price right. Even with the slight increase in inventory, I don’t think it is a time to “test” the market with a higher than comps priced home.
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