What’s my San Marcos Home Worth?
San Marcos Homes Real Estate Market Report for October 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 October 2015 there were 79 homes sold in San Marcos’ 2 zip codes (92069 and 92078), down 34% from last month, another decline. Here’s the breakdown of overall activity.
TOTAL HOMES SOLD
79 (down 34%), 31 Days on Market, Ave. Sales Price $525,814 (up 2%), Ave. sale 97% of asking price
Detached Homes Sold
53 (down 36%), 29 Days on Market, Ave. Sales Price $594,320 (up 2%), Ave. sale 97% of asking price
Attached Homes Sold,
26 (down 28%), 36 Days on Market, Ave. Sales Price $386,167 (up 6%), Ave. sale 96% of asking price
Overall sales volume in October declined fairly significantly from September. On contrast there was a modest increase in average sales prices for attached homes but a decline for detached. Days on market remained roughly the same for detached but rose for attached.
17% of the transactions were cash, compared to 21% last month. Buyers negotiated their asking prices on average 3 - 4%, but some homes sold for over asking price. The Median sales price of detached homes was $545,000 (up 6%) and $389,000 (up 2%) for attached homes/condos.
There were 9 San Marcos homes for sale at the end of October with a Contingent status (7% of the total), i.e., homes with offers awaiting approval from short sale and REO lenders, compared to 15 last month. 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 decreased from September by 13% to 179, the 3rd month of decline following 5 consecutive increases. This represents an inventory of only 1.1 months for attached homes (down from 1.4 months last month) and 1.6 months for detached (the same as 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 October 2015 we saw 113 homes come on the market, an increase of 4% from last month. The number of homes going pending in October also increased by 3% to 92.
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 October. 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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What’s My San Marcos Home Worth? San Marcos Real Estate Market Report September 2015
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