As you can see you've got some pretty good answers already but I thought I'd chime in here as well.
There's a real demand for new homes now and that's why you see Elliott asking a lot for their homes because they can and they are pretty cocky about it too.
When times were tough out there, Elliott in the past has cooperated with us Real Estate folks if we brought a buyer to them... but that hasn't been the case in a long time. If we steer a buyer their way they might spiff us $500.00 I think was the last figure I heard from one of their sales folks and that was like around the 1st of the year.
It is what it is, but as others have said, the re-sale market is not quite as hot as it was earlier in the year. It's still good and there is more inventory. You'll be able to make a good deal if you are a Buyer and if you are a Seller, it's still pretty decent but instead of 10 offers, you might get 2.
I hope this helps.
Make it a Great Day...
If in 3-4 years you decide to sell , you can always also rent it out if you do not see as much appreciation. But real property has always appreciating in the long run. Rental market is also very hot in Folsom.
You can also consider an older homes as they are relatively better priced than the newer homes. The return on investment could be better. But again you need to sit down and discuss all your options,
If existing homes seem to be a greater value to you, due to a lower $/square ft selling price, just remember that $/s.f. is a benchmark. If buyers are willing to pay over the average $/s.f. SOLD, then the market moves up. Today buyers need to look at very recent sales and pending sales (3 months or less) to get an idea of today's home values. Best of luck in your search. kje
square footage between 2500 to 2900
Active listings average 215.20 psf
Solds between 2700 to 3450 sq feet solds average sold price per square foot: $195.
So I turn the question back to you: is it reasonable to pay $33 per square foot for brand new versus late model used for the smaller houses, or $53 per square foot more for one of their larger houses?
Sometimes used is a better deal than new, sometimes new is a better deal than used. Right now, it looks like used is still significantly cheaper than new in Empire Ranch and Russel Ranch.
It is always good to have an agent represent you whether it is for newer homes or older homes.
What I will also add, is that home price increases have slowed dramatically in Folsom in the last month to 6 weeks. This means you have more choices and at a considerably lower cost than a new home, if you were to purchase a resale home.
Best of luck!