San Marcos Homes for Sale - What Happened in the San Marcos Real Estate Market in April 2012?
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 information about local market conditions benefits you as the buyer or seller when making decisions about buying and selling.
In April 2012 there were 92 homes sold in San Marcos’ 2 zip codes (92069 and 92078), down 13% from March. Here’s the breakdown of overall activity.
|
|
TOTAL |
DETACHED |
ATTACHED |
|
# Sold |
92 (down 13%) |
75 (down 3%) |
17 (down 41%) |
|
Ave. $ |
$400,994 (up 7%) |
$442,811 (up 2%) |
$216,505 (down 3%) |
|
DOM |
72 |
73 |
69 |
|
List $/Sale $ |
98% |
98% (81-108%) |
100% (91-117%) |
Sales volume declined across the board for April in contrast to neighboring Carlsbad. Average sales prices shifted upwards slightly for detached homes but declined for attached homes. Buyers are not negotiating much on their purchases, getting only 2% on average off the asking price.
There were 165 San Marcos homes for sale at the end of April 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.
The San Marcos real estate market inventory declined by 6% in April, another decline - at the end of April 2012 the San Marcos real estate market had 337 homes for sale (49% are contingent), 2 fewer than at the end of March.
This represents an inventory of 4.1 months for attached homes (up from 3.9 last month) and 3.3 months for detached (down from 3.7 months) based on the current rate of sales over the last 6 months. The San Marcos real estate market remains highly competitive for buyers and is has become a seller’s market for detached homes, with the lowest absorption rates for the North San Diego County coastal communities!
And good news for sellers is that homes are not taking long to sell, on average about 2 ½ months.
READ MORE: How Important is Inventory when Buying or Selling? Very!!
In April 2012 we saw 139 homes come on the market, 14% more than last month. In contrast, however, the number of homes going pending in April (122) decreased by 20% from last month’s pendings.
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 April. 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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