Folsom Real Estate Trends – Non Reo

May saw Folsom’s non-reo median home price drop to $355,000. Last May Folsom’s median price was $460,000, 22.8% drop. While that sounds like a big drop, it also is due to the fact most of the action is in the $500,000 and under price range.

Folsom’s non-reo price per square foot average is still dropping but not as rapidly as in the past. Average sales price for May was 97% of current list price. Average combined days on market for non-reo is 72 days.

Inventory for non-reo homes is running just over 200 single family homes, 15% less than this time last year. Folsom has 5 months of inventory.

If you would like to see trends more specific to your size home, let me know.