How is the real estate market in Folsom? This week Leah Brown looked at closed sales from January through August, the same months every year, so the comparison is honest.
Eleven years of Folsom median sale prices
Comparing January through August of each year, the Folsom median sale price was:
2015: about $450,000
2020: about $595,000
2026: about $767,000
That puts this year roughly 70% above 2015 and 29% above 2020.
What the market is doing right now
This year's median sale price is about 2% below last year, $767K against $785K. At the same time the number of homes sold is up 15%, 550 closed sales against 477 over the same stretch last year.
So prices are holding fairly close to recent levels and homes are selling. What sellers are not getting is their original asking price.
69% sold below the original asking price
In August of this year, 69% of Folsom homes sold below the seller's original price, 49 of 71 closed sales.
That is the tension in this market. The long-term rise in Folsom home values is clear and it is substantial, but the list price that gets a home sold today is set by current conditions, not by the trend line.
Data source: MetroList.
Thinking of buying or selling in Folsom, Granite Bay or the surrounding communities? Leah Brown can be reached at (916) 622-6316.
