What’s my San Marcos Home Worth?
San Marcos Homes Real Estate Market Report for December 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.
READ MORE:
San Marcos - A Thriving Inland Residential Community
San Elijo Hills – Award-Winning Master Planned Community in San Marcos
Lake San Marcos – Resort and Residential Community in San Marcos, CA
In December 2015 there were 89 homes sold in San Marcos’ 2 zip codes (92069 and 92078), up by 17% from last month. Here’s the breakdown of overall activity.
TOTAL HOMES SOLD
89 (up 17%), 40 Days on Market, Ave. Sales Price $516,501 (down 9%), Ave. sale 97% of asking price
Detached Homes Sold
56 (up 8%), 42 Days on Market, Ave. Sales Price $599,141 (down 7%), Ave. sale 98% of asking price
Attached Homes Sold,
33 (up 38%), 38 Days on Market, Ave. Sales Price $376,265 (down 7%), Ave. sale 97% of asking price
Overall sales volume in December increased significantly from November. In contrast there was a modest decline in average sales prices across the board. Average days on market remained the same for detached homes but increased for attached.
10% of the transactions were cash, compared to 9% last month. Buyers negotiated their asking prices on average 2 - 3%, but some homes sold for over asking price. The Median sales price of detached homes was $583,000 (down 10%) and $399,000 (down 3%) for attached homes/condos.
There were 10 San Marcos homes for sale at the end of December with a Contingent status (7% of the total), i.e., homes with offers awaiting approval from short sale and REO lenders, compared to 11 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 November by 10% to 136, the 5th month of inventory decline. This represents an inventory of 1.1 months for attached homes (up from less than 1 month last month) and 1.3 months for detached (down from 1.4 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.
READ MORE:
How Important is Inventory when Buying or Selling? Very!!
In December 2015 we saw 68 homes come on the market, a decrease of 15% from last month. The number of homes going pending in December also decreased, by 15%, to 70.
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) or certain communities such as San Elijo Hills. Lake San Marcos, or Santa Fe Hills.
SEARCH FOR SAN MARCOS HOMES FOR SALE
READ MORE:
What’s My San Marcos Home Worth? San Marcos Real Estate Market Report November 2015
Comments(4)