Folsom Home Inventory Continues to Shrink

Folsom’s inventory of homes for sale continues to shrink. September saw the least amount of homes for sale since February 2005. Folsom had a total of 197 homes for sale. Of the 197, 126 were regular sales, 48 short sales and 23 bank owned.

Our months of inventory is at 3.7 months. While I would normally consider this almost a sellers’ market based on inventory, my current experience says it is not. Unless the home is price right, buyers are not interested. And by priced right I mean it is a deal.

Folsom’s average price per square foot for regular sales in September was down to $178, down 11.5% from this time last year. We haven’t seen that since March of 2003.

Median price is at $412,000 for a regular home, down 6.4% from this time last year.