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Folsom’s Low Housing Inventory Caused by a Perfect Storm

Posted on: May 9, 2017

 

3d image of house with graph falling

You hear it everywhere you go, “Housing inventory is at record lows”, and “it’s a seller’s market”.

It’s frustrating with buyers and agents alike. When submitting an offer to a listing agent, I told that was the fifth offer I’d written for that client. She replied, “That’s nothing. I wrote 16 offers for one buyer!”

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Filed under: Folsom, Real Estate

Folsom Housing Market – Huge gap between what buyers want and what is on the market

Posted on: March 13, 2017

average price feb bigger

For probably the last 2 years, home buyers and their agents have been lamenting the fact that available housing inventory is low.

It still is low, with 81 homes for sale in Folsom today, compared with 105 a year ago. The problem now is that the inventory that IS available isn’t what buyers want.

Take a look at the chart above, for the past year, the average price for homes sold in Folsom has been just over $500,000, and during that time, the average home listed for sale has been $100,000 to $150,000 higher. That’s pretty significant in itself, but the pool for higher end home buyers is traditionally smaller than for more modest homes, so it stands to reason that the majority of sales are of lower to mid-priced homes.

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Filed under: Real Estate