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September Folsom Housing Numbers Mixed


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#1 Steve Heard

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Posted 11 October 2019 - 02:38 PM

Folsom-Sales-September-2019-382x318.jpeg

Here we are into the fall, the weather is changing and so is the Folsom housing market.  There's some good news and bad news, maybe depending on your perspective.

To the bad? Folsom home sales fell in September. Only 73 homes were sold, compared with 79 a year ago. Is that significant? Maybe, maybe not. It is an 8% drop, but we usually do see a tailing off in sales toward the end of the year, usually hitting bottom in December and January.

 

Folsom-DOM-Sept-2019-382x318.jpeg

Days on market also increased to 38, up from 29 last month. Again, it's not unusual for this time of year, but September of last year averaged 20 days on market.

Inventory is also falling, with 102 homes for sale in Folsom last month, vs 131 in September '18.

Folsom-AVG-price-pre-foot-Sep-2019-382x3

Average price per square foot remained relatively flat, at $276 per square foot.

On a positive note, Folsom pending sales were up sharply, with 90 sellers accepting offers on their properties. That's a 73% increase.

The surge in pending sales could be the result of the drop in mortgage rates. According to FOX business news, mortgage applications were up 5% last week, and are up 163% over last year at this time, as the national average 30 year mortgage dropped to 3.9%

Let's see if that continues.

folsom-months-of-inventory-sep-2019-382x

With about a 1.3 month supply of homes, we still call it a 'sellers' market, but we do see a drop in the sale price vs list price. This could be due to buyer price resistance, giving sellers a reality check.

So, what's it all mean? Well, we're seeing the typical slow down, but with interest rates so low, some buyers are jumping off the fence and making their moves. With increasing days on market, and pickier buyers expecting more for their money, sellers would be wise to price it right if they are serious about selling.

As always, those of us not currently in the market have to wait and see. For those considering buying or selling, now may be your time.

Want to discuss? Drop me a line.

Steve Heard is a Realtor with EXP Realty, based in Folsom CA and is the owner of MyFolsom.com

Contact Steve at 916 718 9577 or steve@myfolsom.com

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Steve Heard

Folsom Real Estate Specialist

EXP Realty

BRE#01368503

Owner - MyFolsom.com

916 718 9577 


#2 Chris

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Posted 14 October 2019 - 07:14 PM

Thanks Steve....   Always good to know what is going on if suddenly my life changes and I have to move to Oregon, Idaho, or Washington....   Which, from what I see politically is going on in CA is looking better every day......!   I can dream can't I...?  Not a big fan or our new Governor, or our last one either......

 

Regards, Chris


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#3 Steve Heard

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Posted 15 October 2019 - 12:48 PM

The Pacific Northwest is becoming increasingly popular these days. 

 

I thought of Seattle over the years, but now it's over-crowded. 

 

Despite the cost and politics, I still love California. I spend time in San Diego, Ventura, Pismo, SLO, Morro Bay, SF, Sac and Tahoe. 


Steve Heard

Folsom Real Estate Specialist

EXP Realty

BRE#01368503

Owner - MyFolsom.com

916 718 9577 


#4 Chris

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Posted 16 October 2019 - 06:33 PM

The Pacific Northwest is becoming increasingly popular these days. 

 

I thought of Seattle over the years, but now it's over-crowded. 

 

Despite the cost and politics, I still love California. I spend time in San Diego, Ventura, Pismo, SLO, Morro Bay, SF, Sac and Tahoe. 

Agreed......   Was in Pismo, Russian River, and Tahoe this summer, really can't beat it....   Except for the crowds and expense....   I do love the Oregon coast though....   And the Vancouver Washington area............    A lot like Pacifica where I grew up..........   Cool, not so hot....   Cheaper, and not so crowded....   Trees too, love the trees....   I will see where my kids end up and move close to one of them and make their life miserable...   Except for the free babysitting that comes with it....   Chris


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#5 The Average Joe

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Posted 19 October 2019 - 06:57 PM

I'm  with you on the Vancouver area. Also with you on where kids end up. Sadly, it seems the politics are (unbelievably) getting more idiotic and fringey here, not less.  Wait til Gruesom kills UBER (with AB5 already signed into law). Another great idea (Uber/Lyft) sacrificed on the utopian workers paradise powered by union payoffs.

Side note, but relevant to this topic, the Realtors carved out an exception in the law, as did several other businesses.  This was not about making thing "better" for workers, it was about unionizing UBER and Lyft.


"Of all tyrannies, a tyranny sincerely exercised for the good of its victims may be the most oppressive" -- C.S. Lewis

 

If the only way to combat "global warming" was to lower taxes, we would never hear of the issue again. - Anonymous

 

"Society in every state is a blessing, but Government, even in its best state, is but a necessary evil; in its worst state an intolerable one" — Thomas Paine, 𝘊𝘰𝘮𝘮𝘰𝘯 𝘚𝘦𝘯𝘴𝘦 (1776)

 





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