What’s my San Marcos Home Worth?
San Marcos Homes and Real Estate Market Report for February 2015
The San Marcos real estate market continues to shift. These data do not include private sales or manufactured housing; the numbers are derived from the MLS and are believed to be accurate at the time this report was published, but are not guaranteed.
Media reports speak in general terms, so their information does not represent the reality of our local San Marcos housing market. Having details about local market conditions benefits you as the buyer or seller so you can make informed decisions about buying and selling San Marcos homes for sale.
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In February 2015 there were 79 homes sold in San Marcos’ 2 zip codes (92069 and 92078), up by 34% from January sales. Here’s the breakdown of overall activity.
|
|
TOTAL |
DETACHED |
ATTACHED |
|
# Sold |
79 (up 34%) |
48 (up 7%) |
31 (up 221%) |
|
Ave. $ |
$480,718 (down 6%) |
$573,458 (down 2%) |
$337,122 (up 16%) |
|
DOM |
47 |
41 |
56 |
|
List $/Sale $ |
97% |
98% |
97% |
Sales volume in February rose fairly significantly from January, especially for attached homes, with more than twice as many homes selling as last month. We saw a slight decrease in average sales prices for detached homes while the average for attached homes rose. Days on market remained the same for attached but increased for detached.
15% of the transactions were cash, compared to 29% last month. Buyers negotiated their asking prices on average 2 - 3%, but a few homes sold for over asking price with others selling below the list price. The Median sales price of detached homes was $548,500 (no change) and $352,000 (up 30%) for attached homes/condos.
There were 21 San Marcos homes for sale at the end of February with a Contingent status (12% of the total), i.e., homes with offers awaiting approval from 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 (be aware that many of these have multiple offers in place and some are not being shown nor accepting more offers).
The San Marcos real estate market inventory dropped from January by 3% to 169, another. This represents an inventory of only 2.4 months for attached homes (down from 2.5 last month) and 2.1 months for detached (up from 2 months last month) based on the current rate of sales over the last 6 months. The San Marcos real estate market continues to be very competitive for buyers, and remains a strong seller’s market.
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In February 2015 we saw 105 homes come on the market, a large increase of 38% from last month. The number of homes going pending in February also increased from January by 6% to 94.
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).
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