Folsom Homes Sales Up
Folsom home sales higher than last year!
Folsom’s traditional home sales (equity, non-reo or short) proved to have enough buyers, but we are missing the sellers! It looks to me that a lot of sellers were smart and instead of waiting for June (traditionally a high listing month), put their home on the market so that buyers could take advantage of the Home Buyers’ Credit.
The amount of Folsom homes for sale is down 24.4% from this time last year. Even with our inventory lower than last year, our pending sales were up 32.3% from last year and Folsom’s solds up 19.5%.
For traditional sellers, average price per square foot seems stable at $180. Folsom is down 2.8% from this time last year. While no one wants to go down (ok, maybe the buyers do), 2.8% is so much better than a couple of years ago where we were down 10%.
In May, Folsom saw 38.6% of the traditional homes for sale sold. This is up 58.1% from this time last year. Last year we saw 24.4% of the homes sold.
While May proved to be an active month for traditional home sellers, we were still seeing the effects of the Home Buyer Credit. June and July will still be interesting months to see if Folsom will continue to have busy buyers and sellers.