Finally some good news! After a three-month slide, the median sale price for a Folsom home swung up to $375,166 in September. In August the median price was at $340,000. The number of homes sold stayed steady at 60. Overall the September median price was down 17% from September 2007 when the median price was $449,500 on the sale of 40 homes. As far as new listings: 112 new properties came on the market (this number has been running steady for about 9 months now). During September, 439 residential properties were on the market, 73 went under contract and 60 sold.
As far as the supply and demand numbers, these are interesting. Although the total number of homes for sale was down 28% from two years ago, the number of homes that were put under contract went up 78% from Sept. '07. Currently the months supply of inventory for Folsom is at 4.3 months, down from a supply of 5.5 months in August. The months supply of inventory indicates how long it would take to sell all the homes on the market if no new listings occurred. And, finally, on average it's taking just a little over two months for a home to sell, at 68 days.That's all for today!
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