Where the Action Is
Prairie Oaks real estate market is mirroring Folsom’s real estate market trends. In the past six weeks most all of the real estate action is in the homes priced $500,000 and under. And there is even more activity under $400,000.
In Prairie Oaks, 75% of our sold homes are under $400,000. Our pendings are all under $429,000. In Folsom as a whole, the action is $500,000 and under also. The price range of $300,000 to $400,000 has 21.38% pending and 17.24% sold. The price range of $400,000 to $500,000 has 29% pending and 16% sold.
Things slow down when you go from $500,000 to $600,000. That market has 14% pending and 6% sold. Folsom homes priced between $600,000 to $700,000 has 8.7% pending and 17.39% sold. (I think we are seeing some values in the just under $700,000 range and buyers are taking advantage of the pricing.)
The good news is that Folsom homes are selling, especially under $500,000. Over $500,000 it is a different story. Sellers will need to do everything they can to make their home stand out from the pack. Staging, professional pictures, spotless homes and through internet marketing is a must.