With low crime, highly rated schools, 2 lakes, miles of bike/jog trails, great shopping and restaurants, there may not be a better place to live in the Sacramento region, than Folsom.
It’s seems that home buyers agree. Taking a look at Folsom homes for sale, and those sold in May show that the average price per square foot is $231. Compared to other communities in the region, having populations of over 50,000, Folsom leads the way. The next closest was Sacramento at $209 per foot.
Bargain hunters can check out Rancho Cordova, where prices average $172 per foot. The Anatolia community there is hot right now, with newer homes, and the long-promised shopping center anchored by Raley’s Supermarket, is under contstruction. A new park is in development as well. Price there are a bit higher than elsewhere in town, but still a relative bargain compared to Folsom.
As far as Folsom homes go, the average sold last month was a 3 to 4 bedroom home of 2243 square feet. The lowest price per foot was $113 for a foreclosure, a 33 year old condo fixer. The highest was $319 per foot, for a 2 bed, 1 bath 1948 bungalow in the Historic District.
No one knows how the new development south of Highway 50 will affect prices. If the demand continues, and people keep on seeking out the Folsom life style, prices should remain strong. Time will tell.
Note that in each community, prices can vary wildly, by neighborhood and other factors.
*Note: Since publishing, several people have asked why El Dorado Hills and Granite Bay weren’t included. This piece focused on communities with populations of over 50,000. El Dorado Hills has just over 40,000 people, and their average price per square foot is at $220. Granite Bay’s population is even smaller, at about 20,000 people, and a price per square foot of $256.
If you’re curious about a specific community or property, drop me a line.
Steve Heard – Folsom Realtor – Keller Williams Realty – 916 718 9577 – steve@theheardgroup.com