Tag Archives: Folsom

Folsom real estate market

Seal of Sacramento County, California
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The Folsom real estate market, a fairly small subsidiary market falling under the larger Sacramento region, continued to show weakness, contrary to the trend of the Sacramento area at large. According to a June 3, 2010 article from the Sacramento Business Journal, “Sacramento’s home prices have gone up by 11.7 percent on average over the past year, according to a report released Thursday from Clear Capital, a Truckee-based provider of real estate valuation and risk assessment or financial services companies. The price rebound was higher than that of Modesto’s, where prices have rebounded 9 percent over the past year, but lower than that of Stockton, where prices have gone up 13.6 percent on average during that time.” The piece, written by Michael Shaw, continued to note that “The number of bank-owned properties in the Sacramento metropolitan area, which includes Sacramento, Placer, El Dorado and Yolo counties, has continued to decline, dropping approximately 2 percentage points over the past three years.”

This disconnect in the average price of a Folsom home for sale as compared with Sacramento properties is consistent with statistics mentioned earlier by a May 25, 2010 report from KXJZ News. This piece noted that “The California Association of Realtors says the median home price – meaning half the homes sold for more, the other half for less – increased to $188,000 in April. That’s about $20,000 more than what has been considered the bottom of the market. But the figure has created a bit of an unusual situation, since only Sacramento County enjoyed higher prices compared to April 2009.” The article, which was aired on All Things Considered, “El Dorado, Placer and Yolo counties reported modest price declines in April compared to a year ago. But sales dropped 8 percent to 484,000 homes, that’s the fewest homes sold in 19 months.”

Realtor Alex Villacorta noted that the median price level of Folsom real estate have remained drastically low compared to a few years ago. He said that “In fact, for the Sacramento market, prices have fallen 54% since the market peak back in late 2005. So even though we’ve seen a nice gain over the year, we are still very low compared to where prices were in the peak of the market.”

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