San Marcos Real Estate Market Report for February 2011
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.
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Media reports tend to speak in general terms, rather than local, so their information will not likely represent the reality of our local San Marcos real estate market. Having data from a knowledgeable agent about local market conditions benefits you as the buyer or seller when making decisions about buying and selling.
In February 2011 there were 70 homes sold in San Marcos' 2 zip codes (92069 and 92078), 13% more than last month. Here's the breakdown of overall activity.
|
|
TOTAL |
DETACHED |
ATTACHED |
|
# Sold
|
70 (up 13%) |
43 (up 8%) |
27 (up 23%) |
|
Ave. $
|
$348,499 (up 3%) |
$440,056 (up 10%) |
$202,687 (down 12%) |
|
DOM
|
89 |
100 |
72 |
|
List $/Sale $
|
99% |
97% |
101% |
Sales volume rose across the board, while average prices dipped modestly for attached homes but rose for detached properties, the opposite trend from last month.
There were 147 San Marcos homes for sale at the end of February with a Contingent status, i.e., homes with offers awaiting approval from the short sale and REO lenders. These homes are included in the overall Active stats since they are still considered active until the approvals are obtained.
At the end of February 2011 the San Marcos real estate market had 437 homes for sale (34% are contingent), just 4 fewer homes for sale than in January. This represents an inventory of 5.1 months for attached homes (down from 5.2 months) and 5.2 months for detached (up from 4.8 months at the end of January) based on the current rate of sales over the last 6 months.
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In February 2011 we saw 108 homes come on the market, 30% fewer than last month. The number of homes going pending in February (85) was up by 4 over January.
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 February. 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).
READ MORE:
San Marcos Homes for Sale | San Marcos Real Estate Market Report for January 2011
San Marcos Homes for Sale | San Marcos Real Estate Market Report for December 2010
San Marcos Homes for Sale | San Marcos Real Estate Market Report for November 2010
San Marcos Homes for Sale| San Marcos Real Estate Market Report for October 2010
San Marcos Homes for Sale | San Marcos Real Estate Market Report for September 2010
San Marcos Homes for Sale | San Marcos Real Estate Market Report for August 2010
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