A Look At Folsom REO’s
Folsom’s Foreclosure’s inventory is inching up a bit.
Folsom is starting to see bank owned homes in the same numbers as February 2009, when we had on average 30 bank-owned homes. Our highest month was October 2008 with 37 reo’s for sale.
New foreclosed listings are also heading up with 21 new reo listings in April.
The average price per square foot for the foreclosed homes is up 4.2% from this time last year to $176/sqft. We are seeing prices the same as early 2009.
The foreclosures are taking longer to sell also. Up from 20 days on the market in June 2009, now 83 days on market.