Market Conditions Report – Folsom

4/25/17

There are 110 active listings of single family homes in Folsom. Inventory is starting to increase but still high buyer demand – making Folsom a strong seller’s market. Of the active listings 9 are short sales with 8 already having seller accepted offers and waiting for lender approval. There is 1 REO (bank owned) property for sale.

There are 111 pending sales with average days on the market of 19. There are 164
sold listings in the last 3 months indicating great turnover activity. Average days on the market for sold listings are 24! Average list price to sale price is an excellent (for the seller) 99.7% 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.