The Real Folsom Blog

Sales Up Last Week in Folsom

Home sales picked up in Folsom during the past week with 18 sales recording, this according to MetroList, our local multiple listing service. The properties were listed and sold by various multiple listing service brokers. If you don't see a sale you've been wondering about, drop me a line at annerhea@kw.com and I'll look it up for you.

Here's a sampling of those sales:

1304 Esplanade Circle (3 bedrooms/2.5 bath, 1355 sq feet) sold for $263,000 at 109.58% of list price on 6/30/08, $194 per sq foot.

380 Marsalla Drive (3 bedrooms/2 bath, 1130 sq feet) sold for $290,000 at 96.99% of list price on 6/27/08, $257 per sq foot.

1532 Guzzetti Way (3 bedrooms/2.5 bath, 1675 sq feet) sold for $299,755 at 92.01% of list price on 6/26/08, $179 per sq foot.

1368 Hartley Way (3 bedrooms/2 bath, 1434 sq feet) sold for $352 at 95.39% of list price on 6/30/08, $245 per sq foot.

112 Willow Creek Drive (4 bedrooms/2 bath, 1981 sq feet) sold for $380,000 at 95.02% of list price on 6/26/08, $192 per sq foot.

1714 Bowen Drive (3 bedrooms/2.5 bath, 2278 sq feet) sold for $490,000 at 98.20% of list price on 6/24/08, $215 per sq foot.

311 Alpine Falls Dr (4 bedrooms/4 bath, 4172 sq feet) sold for $665,000 at 95.70% of list price on 6/30/08, $159 per sq foot.

On average the 18 homes sold during the past week sold in 54 days for a median price of $372,500 for 98 percent of asking price. Six of the homes were foreclosed properties, which sold for a median price of $414,950 for 100.13 percent of list price and with an average days on the market of 40 days. Only two of the 18 homes sold were short sales (even though there are currently three times as many short sales on the market as foreclosed properties). These were on the market 114 days on average, sold for a median price of $350,000 and for 99.38 percent of asking price. The good news about short sales, is that word on the street (i.e., from other real estate agents) is that it is getting easier to close a deal on a short sale property.

Recent Folsom Home Sales June 25 '08

Following are the Folsom home sales that were recorded by MetroList, our local multiple listing service during the past week. The properties were listed and sold by various multiple listing service brokers.

104 Paydirt Ct (3 bed/2 bath, 1230 sq ft) sold for $275,000 on 6/19 at 87.05%, $224 per sq ft.

363 Coventry Cir (3 bed/2 bath, 1310 sq ft) sold for $305,000 on 6/20 at 103.42%, $233 per sq ft.

211 Barnhill  (4 bed/2.5 bath, 1930 sq ft) sold for $350,000 on 6/20 at 94.60%, $181 per sq ft.

183 Oxburough Dr  (4 bed/3 bath, 2174 sq ft) sold for $370,000 on 6/20 at 112.12%, $170 per sq ft.

1444 Walden Dr (4 bed/3 bath, 1834 sq ft) sold for $376,000 on 6/20 at 95.19%, $205 per sq ft.

508 Fisher Cir (5 bed/2 .5 bath, 2483 sq ft) sold for $427,000 on 6/23 at 97.07%, $172 per sq ft.

100 Newington Way (4 bed/2.5 bath, 2268 sq ft) sold for $455,000 on 6/23 at 100.22%, $201 per sq ft.

104 Berry Creek Dr (3 bed/2 bath, 2301 sq ft) sold for $465,000 on 6/19 at 97.92%, $203 per sq ft.

127 Rebecca Way (4 bed/2.5 bath, 3344 sq ft) sold for $542.,050 on 6/19 at 95.94%, $162 per sq ft.

1835 Woodglen Dr (5 bed/4 bath, 3111 sq ft) sold for $820,000 on 6/20 at 97.74%, $264 per sq ft.

 

 

Some Stats To Start Off the Week

Stats and numbers never cease to fascinate me especially when it comes to real estate. They tell stories and reveal insights into what's happening. So what do the numbers (drawn from our local multiple listing service) tell us this Monday about the Folsom real estate market?

All Homes for sale: 294

  Price range: $139,900-$1,695,000 (talk about a wide selection!)

  Median price: $444,900

  Average Days on the Market: 83

Repo Homes for sale: 19 (just a little over 6 percent of what's for sale)

  Price range: $139,900-$799,900 (once again a wide selection)

  Median price: $418,500 (compare with median price above)

  Average Days on the Market: 34 (the bank-repo market is a seller's market right now and this number reflects how fast they are moving)

Short Sale Homes for Sale:69 (at 23 percent of the market, this number is in keeping with what we hear in the news--that a wave of foreclosures is coming our way)

  Price range: $165,000-$775,000

  Median price: $359,000 (these are a good deal IF you can get them closed!)

  Average Days on the Market: 95 (compare that with the numbers above. A good part of the story is in that number. It's still proving hard to get lenders to agree to short sales so they don't close and the homes eventually go into foreclosure).

That's it for today. See you tomorrow...

Recent Folsom Home Sales Jun 19 '08

The following Folsom home sales were posted this week by MetroList, our local multiple listing service. The properties were listed and sold by various multiple listing service brokers. If you don't see a sale you've been wondering about, drop me a line at annerhea@kw.comand I'll look it up for you.

885 Halidon Way #1214 (2 bedrooms/2 bath, 985 sq feet) sold for $235,000 at 94% of list price on 6/18/08, $238.58 per sq foot. 

209 Ruth Ct (3 bedrooms/2 bath, 1204 sq feet) sold for $265,500 at 106.20% of list price on 6/16/08, $221 per sq foot. 

110 Penaranda Dr (3 bedrooms/1.5 bath, 1100 sq feet) sold for $290,000 at 96.99% of list price on 6/17/08 , $264 per sq foot. 

160 Livermore Way (4 bedrooms/3 bath, 2076 sq feet) sold for $330,000 at 94.29% of list price on 6/17/08, $159 per sq foot. 

910 Persifer St (3 bedrooms/1.5 bath, 1179 sq feet) sold for $345,000 at 98.60% of list price on 6/16/08, $293 per sq foot. 

872 Morningside (3 bedrooms/2 bath, 1753 sq feet) sold for $370,000 at 95.12% of list price on 6/17/08, $211 per sq foot. 

1148 Bramble Ln (4 bedrooms/2 bath, 2098 sq feet) sold for $400,000 at 95.24% of list price on 6/17/08, $191 per sq foot. 

102 Thorndike Way (4 bedrooms/3 bath, 2263 sq feet) sold for $430,000 at 95.77% of list price on 6/17/08, $190.01 per sq foot. 

That's all for today. Have a great day

May Stats Are In for Folsom Real Estate

I finally got the numbers for real estate activity in Folsom in May. They came out a little late this month but better late than never. This month there are some interesting insights in the stats, which go back two years:

* 486 homes were for sale in May--the lowest number in the past 2 years, yet 102 homes went under contract, which is the highest number in two years. Nearly 21 percent of the homes for sale got and accepted an offer.

* 79 homes sold in May--the highest number of homes sold since June of '07 when 79 homes also sold.

* Median price of homes sold in May '08 was $423,000 (average days on the market: 79), which is down 10.57% from the same month last year. Back in May '06, the peak month, median price of homes sold was $520,000. We're off 18.65% from that mark. That said, we have been seeing a steady uptrend in the median price of homes in Folsom during the past 5 months.

* Finally, a look at inventory: In May, we had 3.3 months of inventory--the smallest amount of inventory in two years.

Lots of questions in the numbers this month. Among them: Has the Folsom market stabilized price-wise? Only time will tell. But food for thought.

Make it a great week!

Today, I continue to catch up on the sales that recorded while I was out. The following Folsom home sales were recorded by MetroList, our local multiple listing service, during the last week of May. The properties were listed and sold by various multiple listing service brokers.

• 602 Blossom Rock Ln (2 bedrooms/2 bath, 1129 sq feet) sold for $239,900 on 5/30 at 100% of list price, $213 per sq foot.
• 812 Mormon St (2 bedrooms/1 bath, 714 sq feet) sold for $250,000 on 5/29 at 92.76% of list price, $350 per sq foot.
• 109 Sedgeford Ct (3 bedrooms/2 bath, 1352 sq feet) sold for $290,000 on 5/30 at 103.24% of list price, $214 per sq foot.
• 101 Picasso Wy (2-3 bedrooms/2.5 bath, 1501 sq feet) sold for $302,000 on 5/29 at 97.42% of list price, $201 per sq foot.
• 133 John Henry Cir (4 bedrooms/3 bath, 1754 sq feet) sold for $310,000 on 5/30 at 100% of list price, $177 per sq foot.
• 101 Jamie Ln (3 bedrooms/2 bath, 1137 sq feet) sold for $315,000 on 5/28 at 93.20% of list price, $277 per sq foot.
• 104 Cobble Ridge Dr (2-3 bedrooms/2 bath, 1245 sq feet) sold for $315,000 on 5/29 at 98.44% of list price, $253 per sq foot.
• 369 Coventry Cir (3 bedrooms/3 bath, 1721 sq feet) sold for $320,000 on 5/30 at 94.15% of list price, $186 per sq foot.
• 446 Slocum Dr (3 bedrooms/2 bath, 1488 sq feet) sold for $332,500 on 5/30 at 100% of list price, $223 per sq foot.
• 1494 Strabane Wy (3 bedrooms/2 bath, 1339 sq feet) sold for $335,000 on 5/30 at 101.53% of list price, $250 per sq foot.
• 1308 Tippens Way (3 bedrooms/2 bath, 1434 sq feet) sold for $340,000 on 5/28 at 97.17% of list price, $237 per sq foot.
• 105 Rockbolt Cir (3 bedrooms/2 bath, 1446 sq feet) sold for $348,000 on 5/27 at 96.80% of list price, $241 per sq foot.
  118 Hopfield Dr (3 bedrooms/2 bath, 1723 sq feet) sold for $350,000 on 5/30 at 109.41% of list price, $203 per sq foot.
  1140 Burwick Ln (3 bedrooms/2 bath, 1753 sq feet) sold for $420,000 on 5/28 at 93.54% of list price, $240 per sq foot.
  1169 Blackberry Cir (4 bedrooms/3 bath, 1992 sq feet) sold for $424,000 on 5/27 at 96.36% of list price, $213 per sq foot.
  109 Thorne Ct (4 bedrooms/2.5 bath, 2185 sq feet) sold for $463,000 on 5/30 at 98.62% of list price, $212 per sq foot.
  813 Fairchild Ct (4 bedrooms/2.5 bath, 2784 sq feet) sold for $510,000 on 5/29 at 96.41% of list price, $183 per sq foot.
• 1168 Burwick Ln (4 bedrooms/2.5 bath, 2433 sq feet) sold for $520,000 on 5/30 at 99.05% of list price, $214 per sq foot.
• 105 Tedford Ct (5 bedrooms/3 bath, 2968 sq feet) sold for $525,000 on 5/29 at 95.47% of list price, $177 per sq foot.
• 708 Taylor St (6 bedrooms/2.5 bath, 4090 sq feet) sold for $623,500 on 5/27 at 95.94% of list price, $152 per sq foot.
• 1658 Weinreich Ct (5 bedrooms/3.5 bath, 2962 sq feet) sold for $630,000 on 5/30 at 96.92% of list price, $213 per sq foot.
• 104 Endicott (4 bedrooms/3.5 bath, 3244 sq feet) sold for $680,000 on 5/29 at 99.27% of list price, $210 per sq foot.
• 2096 Tarbolton Cir (4-6 bedrooms/4 bath, 3650 sq feet) sold for $750,000 on 5/29 at 93.76% of list price, $205 per sq foot.

That's it for today. Make it a great day!

Folsom Market in May--an Early Peek

The official stats are not in yet for Folsom but I couldn't resist doing my own check of the MLS. Here's what May looked like in Folsom: As of today, there were 76 recorded sales in May with a median price of $423,500 and an average of 52 days on the market. The least expensive home went for $200,000 and that got you a 1 bed/1 bath and a whole 649 sq feet! The priciest home went for $1,089,000. The homes sold for an average of 96.52% of list price. Not too bad.

The REO market (or bank-owned homes), which is very hot right now (it's a seller's market in this segment), had 17 recorded sales in Folsom in May. Median price was $350,000 and the average days on market was 37 (they are selling much faster than regular sales). Eleven of the 17 bank-owned homes sold in under 30 days. On average they sold for 99.14% of list price. We are still seeing multiple offers on REOs within days of them going on the market.

And, finally, a look at short sales. Only 8 short sales sold in May. Their median price: $327,000--so a good deal compared to regular sales or REOs. The trick is closing on a short sale. I checked out a few homes for sale in my neighborhood that I know are short sales. One has an offer in that has been pending since February with still, apparently no response, from the lender that has to approve the deal.

That's it for today. When the official stats come in for Folsom, I'll go over those.

Back on the job

I'm still dealing with a little jet lag issue today. This after returning from a wonderful two-week trip to Scotland. The trip was great but the 24-hours of travel time back plus the eight-hour time difference between there and here has left me less than perky on this sunny California Monday. Anyway, enough whining and back to blogging about Folsom real estate. I thought a good way to get back in the swing of things would be to see what the market looks like. And what better way to do that than to check out the latest numbers. Here they are:

• Folsom homes for sale: 299
• Least expensive home on the market: $165,000 for a 1/1, 750 sq ft
• Most expensive home on the market: $1,695,000 for a 6/6, 5,982 sq ft
• Average Days on the Market: 84
• Median price: $439,900
• Number of those that are Bank-owned: 16
• Average Days on the Market of the Bank-owned: 29
• Bank-owned median price: $421,700
• Number of current Short Sales: 75
• Average Days on the Market for the Short Sales: 103
• Short sales median price: $379,000

I also checked to see what the REO (as in bank-owned properties) market was doing in Folsom in May. Proof that that market is hot, hot, hot is the fact that 15 REOs sold last month, about as many as are currently on the market. And of those 15, 10 sold in under 30 days at an average of 100.04% of list price. The story around the proverbial real estate water cooler hasn't changed in the months since the REO market got hot: they are selling fast with multiple offers and at, or over, asking price. Keep this in mind if you make an offer and you want to get it accepted.

Well, I can feel the jet lag settling in again, so I'll sign off for today.

Folsom Real Estate Snapshot May 12 '08

What better way to start my real estate week then to take a quick snapshot of where we are real estate-wise in Folsom this beautiful May morning? Here is what the MLS numbers tells us:

• Number of homes for sale: 303
• Price range: $119,900-$1,399,00
• Median price: $449,000
• Average Days on the Market: 78
• Number of Bank-Owned homes (also known as REOs) for sale: 17
• Median price of REOs: $439,900
• Average Days on the Market for REOs: 59
• Price range of REOs: $119,900-$874,900
• Number of Short Sale Properties: 68
• Median price of Short Sales: $377,000
• Average Days on the Market of those Short Sales: 102
• Price range of Short Sales: $174,900-$795,000

Some interesting realities show up in these few numbers, especially when you look at the differences in median price and days on the market...

Have a great day!

Recent Folsom Home Sales May 8 '08

I'm a little behind on posting recent Folsom home sales and will try to catch up over several posts. If you don't see what you're looking for, drop me a line and I'll look it up for you. The following Folsom home sales were recorded by MetroList, our local multiple listing service. The properties were listed and sold by various multiple listing service brokers.

• 211 Persifer St (3 bedrooms/1 bath, 781 sq feet) sold for $226,500 at 96.42% of list price, $290 per sq foot.
• 348 Parker Dr (3 bedrooms/2 bath, 1488 sq feet) sold for $317,000 at 99.37% of list price, $213 per sq foot.
• 616 Willow Creek (3-4 bedrooms/2 bath, 1592 sq feet) sold for $395,000 at 101.31% of list price, $248 per sq foot.
• 1225 Darling Way (5 bedrooms/3.5 bath, 2774 sq feet) sold for $420,050 at 102.48% of list price, $151 per sq foot.
• 113 Darrington Dri (5 bedrooms/3 bath, 2585 sq feet) sold for $550,000 at 91.97% of list price, $213 per sq foot.
• 784 Travis St (4 bedrooms/3 bath, 3154 sq feet) sold for $555,000 at 97.54% of list price, $176 per sq foot.

That's it for today. Enjoy the afternoon.