Market Conditions Report – Folsom

2/6/19

There are 72 active listings of single family homes in Folsom. Inventory is seeing slight increase in number of active listings and still high buyer demand. making Folsom a strong seller’s market. Home prices range from $429,000 for a 3/2bath 1277 SF home to $1,199,000 for a 4260 SF home on 1/3 acre. There are 61 pending sales . Average days on the market for the pending sales is 38. Days on market increase due to a few homes that have been on the market for longer than average, but going pending as there are so few homes to choose from. There are 162 sold listings in the last 3 months indicating great turnover activity. Average days on the market for sold listings are 33! Average list price to sale price is an excellent (for the seller) 99.1% indicating many multiple offer situations due to the still low inventory.

There are two major areas in Folsom. One is Broadstone which is a 1,600 acre development near Highway 50. Broadstone is unique in that it was completely developed by Elliott Homes, Inc. Broadstone consists of single family homes, apartments, office, and retail centers. It is also home to the Broadstone Racquet Club which is a private, membership facility with court sports, swimming, exercise rooms and children and infants play area. The Broadstone villages were built to appeal to first time homebuyers as well as move-up buyers with a wide range of sales prices.

The other is American River Canyon which is located off Oak Avenue Parkway on the other side of the American River from Old Town Folsom. Homes in American River Canyon were built by numerous builders from the early 1980’s to custom homes built currently on custom lots. Nearly all of the homes in this area are good to very good quality custom homes on well-landscaped lots.