What's happening in Folsom March 20, 2023
Folsom California Real Estate Market Update
If you’re looking to buy or sell a home in Folsom, California, it’s important to know what the current real estate trends are. Firstly, this week the median list price for homes in Folsom is $753,106. This is a significant increase compared to last month’s market action index of 49. In fact, the market action index is now hovering around 56, indicating that we may be entering a strong seller’s market.
Secondly, despite the increase in pricing, home sales continue to outstrip supply, which means that buyers will likely face stiff competition when looking for a home. This can be frustrating for buyers, especially those who are on a tight budget or have very specific criteria. However, for sellers, this is great news as they can expect upward pricing pressure soon if the trend continues as it is right now.
Furthermore, one of the biggest challenges facing homebuyers in Folsom, and many other cities right now is the low inventory. With inventory decreasing to 49, buyers may find it additionally challenging to find homes that meet their needs and their budget.
Generally speaking, this is a common issue we see in hot real estate markets, therefore it’s important for buyers to work with a seasoned real estate agent. However, despite the challenges, there are still plenty of opportunities for buyers and sellers alike in the Folsom real estate market.
In conclusion, the Folsom real estate market is a hot topic right now. The median list price for homes increasing and additionally, the market action index indicates a strong seller’s market. In other words, for sellers, now is the time to take advantage of the upward pricing pressure and sell their home for top dollar.
Want to learn more about Folsom? Visit the Folsom Chamber of Commerce website.
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