Folsom Home Prices Report for January 2021
The price per square foot for Folsom homes in December 2020 was 10.2% higher than December 2019. Median home prices here in Folsom during December 2020 was $618,000 up 6.6% from the same time last year ($580,000).
Folsom continues to have a strong real estate market. Homes sold at 100% of list price in December 2020. Homes stayed on the market an average of 21 days. Last year this time homes were on the market an average of 45 days.
I continue to think that with the passage of Prop 19 we will continue to see home prices go up as people (over 55) are able to transfer their property tax value to anywhere in the state. I think we will see a lot more people over 55 moving from the bay area. Until El Dorado County stopped allowing it a couple of years ago that was a major demographic moving to El Dorado County to take advantage of the property tax law.
If you are considering selling your home or know someone who is, please contact me as soon as possible so that I can help you plan the best strategy for timing and pricing.