The San Marcos real estate market continues to evolve, especially with the large number of distress sales. These data do not include any private sales nor manufactured housing; the numbers are derived from the MLS and are believed to be accurate but are not guaranteed.
Media reports speak in general terms, rather than local, so that information may not represent the reality of our local San Marcos real estate market. Having data from a knowledgeable agent about the local market conditions benefits you as the buyer or seller.
In August 2009 there were 89 homes sold in San Marcos' 2 zip codes (92069 and 92078), 2 more than in July. Here's the breakdown of overall activity.
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TOTAL
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DETACHED
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ATTACHED
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# Sold
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89 (up 2%)
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55 (down 18%)
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34 (up 70%)
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Ave. $
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$339,200 (down 18%)
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$417,457 (down 11%)
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$212,605 (down 4%)
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DOM
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47
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50
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42
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List $/Sale $
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100% (87% - 124%)
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100% (87% - 124%
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100% (89% - 116%)
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Sales volume rose slightly over July numbers while average sales prices declined across the board - the opposite occurred in Carlsbad and Encinitas. The days on market remained under 2 months, and declined from July.
There were 180 homes (119 detached and 61 attached) homes on the market at the end of August with a Contingent status, i.e., homes with offers awaiting approval from the short sale and REO lenders. This is an increase of 5% over the prior month. These homes are included in the overall Active stats since they are still considered active until the approvals are obtained. Thus about 54% of the homes that are active on the market have offers as short sales and REOs.
At the end of August 2009 the San Marcos real estate market had 331 homes for sale (54% are contingent), a decrease of 11% in total inventory from July. This represents an inventory of 4.7 months for attached homes (just slightly more than in July) and 4 months for detached (up from 3.5 months in July) based on the current rate of sales over the last 6 months. The San Marcos real estate market, then, remains competitive for buyers and properties are staying on the market for less time, along with the decline in inventory.
In August we saw 81 homes come on the market, down 6% from July which had declined 32% from June. In contrast, we saw a 32% increase in the number of homes going pending in August (143); pendings have increased each of the last 4 months.
This overview of the San Marcos real estate market is based on information provided by the MLS for homes that went under contract in the last couple of months and closed in December. More details can be provided if needed with regard to current activity as well as within the specific zip codes of San Marcos (92078 and 92069).
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If I can provide more information about San Marcos real estate, or about real estate in surrounding areas, the housing market in general, or otherwise assist you in your homes search, please contact me by phone or text at (760) 840-1360 or email me at JDowler@remax.net.
All content copyright © 2009 Jeff Dowler Carlsbad Homes and Real Estate Tidbits
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Hi Jeff, An interesting article in the paper today about what affects the HVCC is having around San Diego. Having a bank justify the process an anti-inflationary is also entertaining. With an abundance of short sales and REO's in certain areas around the county, it seems like there are two worlds of real estate. One where things are moving along with values increasing and other areas that show continued decline in values with increasing sales but at remarkable lower prices. In the end, do have more affordable housing or a new haven for investors and an actual decline in home ownership overall. Guess it take a while before the handwriting becomes clear enough to read.