The November Folsom real estate numbers are in, and there’s little surprise. It is typically one of the slowest months of the year, with cooler weather, fewer daylight hours, and folks taking time off and turning their attention toward the holidays.
Pending home sales were up slightly, at 59, compared to 54 for the same period last year.
Closed sales were down slightly, at 72, compared to 76 for November of ’16.
Price per square foot, at $254, is up 5% from last year, though it has fluctuated between $247 and $259 past 8 months.
So, what’s the upshot of all this? Business as usual.
While we typically see fewer buyers and sellers in November and December, this is also the time where you’re likely to find the most motivated. Few people ‘test the market’ or ‘kick the tires’ this time of year.
Think about it, homes show better in spring, when flowers and trees are blooming, and the sun is shining well into the evening. Similarly, house hunting can lose some of its appeal under when it’s cold and dark out.
Lot’s of folks take the ‘wait until the new year’ approach, leaving the buying and selling to the most serious.
So, if you’re in the market to buy, you won’t have as many homes to choose from, with only 57 Folsom homes for sale today, but you’ll have fewer buyers to compete with, and may be able to find a bargain.
If you’re selling, you may not have as many buyers coming through, but won’t waste time with the tire kickers.
That’s the short version. Any questions? Drop me a line at email@example.com or 916 718 9577.
I’ll be putting out my 2018 housing market predictions next week, so stay tuned for that.
Check current listings here
In the mean time, Happy Holidays!