Folsom Home Sales for September 2010

Folsom’s  summer home buying season officially slowed down in September.  Folsom continues to see more homes come on the market, but solds are dropping.

Folsom MLS Inventory

Folsom homes available  was up 35.5% from the same time last year.  The solds were down 27.6% from the same time last year.  Of the 267 Folsom homes for sale in the MLS, 75 were short sales and 34 were foreclosed homes.

It is also taking longer, once you are on the market to go pending.  Last year it was an average of 103 days to go pending, this year we are up to 108 days.

Our absorption rate for September was 15.7%, down 46.6% from this time last year.  This fall season is going to be hard on sellers.  If their home is not priced competitively or it is highly desirable, I am afraid there may not be any takers.