Folsom Home Sales for October 2010
For the past 3 out of 4 months the magic number has been 46 Folsom homes sold. Folsom solds are down 33.3% from this time last year. While Folsom has seen more homes go on the market, up 2.6% from last month and up 36.3% from this time last year, our new listings appear to be tapering off. Traditionally we expect a slowdown as we head into the holiday season. I find that a lot of sellers will pull their homes off the market until after the first of the year. I encourage my sellers to stay on the market, because any buyer that is out looking during the holidays is a serious buyer.
Even though the pendings appear to be moving up, now that the MLS is counting short sale contingent(seller has agreed, bank has not yet) as a pending, I don’t think it is an accurate trend. Until you have an agreement with the bank, there is no way you know whether the buyer will complete the purchase or not.
With the coming holiday slowdown, if you are a seller, you need to make sure you are priced competitively and you have your home in tip-top condition. You will want to catch the eye of those few buyers out there this season.