Here we are, half-way through the year, and it’s time to take inventory (no pun intended) of the local housing market.
Low rates, high demand, and limited inventory continue to drive prices up.
Sales are up by about 9% over the pre-covid average, with 77% of homes getting multiple offers, it’s easy to imagine numbers being much higher, if only we had more homes on the market.
What IS much higher? Start with home prices. The average price for homes sold in Folsom last month was $804,000.
The average price price per square foot was $352.
Of course, there are those who believe that we’re poised for a correction or even a crash, pointing to unreasonably high prices, and historical trends, but for now, the market remains strong.
There has been a slight rise in inventory, with 69 homes for sale in Folsom on the market today (July 8), and although that’s the highest number of active listings this year, it is less than half of the norm.
As always, we’ll keep an eye on things, and see if any trends develop, but for now, the market remains strong.
For more info, questions, or tips on how to write a winning offer in this market, drop me a line.
Steve Heard – EXP Realty of California, Inc – 916 718 9577 – steve@theheardgroup.com – DRE#01368503