What’s my San Marcos Home Worth? Market Report for December 2016

By
Real Estate Agent with Solutions Real Estate CalBRE License #01490977
http://activerain.com/droplet/4YKJ

What’s the Value of my San Marcos Home?

 

San Elijo Hills Town Center in San MarcosThe 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, and do not represent the reality of the local San Marcos housing market. Having details about local market conditions benefits you as a 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 2016 there were 94 homes sold in San Marcos’ 2 zip codes (92069 and 92078), a decrease of 4% from last month, a trend we saw in other North San Diego County communities. Here’s the breakdown of overall activity.

 

 

TOTAL HOMES SOLD

94 (down 4%), 36 Days on Market, Ave. Sales Price $547,533 (down 8%) Ave. sale 96% of asking price

Detached Homes Sold
66 (down 1%), 41 Days on Market, Ave. Sales Price $617,565 (down 11%), Ave. sale 95% of asking price

Attached Homes Sold,
28 (down 7%), 23 Days on Market, Ave. Sales Price $382,458 (up 1%), Ave. sale 98% of asking price

 

Home for sale in San Marcos CA 

 

Overall sales volume in December decreased slightly from November across the board, the 3rd consecutive decline. Average time on market increased for both detached and attached homes but remained pretty low.

 

14% of the transactions were for cash, compared to 16% last month. Buyers negotiated their asking prices on average 2 - 5%, but 25 homes (27%) sold at or above asking price. The Median sales price of detached homes was $592,500 (down 10%) and $372,500 (down 6%) for attached homes/condos.

 

There were 13 San Marcos homes for sale at the end of December with a Contingent status (15% of the total), i.e., homes with offers awaiting approval from short sale and REO lenders, up from 10 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 significantly from November by 28% to 88, the 7th consecutive inventory decline. This represents an inventory of less than 1 month for attached homes (the same as last month) and less than 1 month for detached (down from 1.2 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 very strong seller’s market.

 

READ MORE:   

How Important is Inventory when Buying or Selling? Very!!

 

In December 2016 we saw 50 homes come on the market, down by 32% from last month. Similarly the number of homes going pending in December decreased, by 26%, to 61.

 

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. I can provide more details with regard to current activity as well as within the specific zip codes of San Marcos (92078 and 92069), or focus on certain communities that interest you 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 2016

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Tags:
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Paul S. Henderson, REALTOR®,CRS,
RE/MAX Professionals. - Tacoma, WA
Tacoma Washington Agent/Broker & Market Authority!

Jeff Dowler,  you have made your market reports a thing of art and what a joy to read!

Jan 09, 2017 08:56 PM #1
Rainmaker
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Sally K. & David L. Hanson
Keller Williams 414-525-0563 - Brookfield, WI
WI Realtors - Luxury - Divorce - Short Sale

We know as do people in your area, that we can depend on the details in your market reports !

Jan 10, 2017 03:22 AM #2
Rainmaker
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Sheri Sperry - MCNE®
Coldwell Banker Residential Brokerage - Sedona, AZ
(928) 274-7355 ~ YOUR Solutions REALTOR®

As I have said before Jeff, San Marcos is a gabulous area to get the best value for your money.  The proximity to close by beaches and the San Diego area as well as Orange County and the Inland Empire can't be beat. You are only minutes to the beach.  How can you beat this value? !!

Jan 10, 2017 05:53 AM #3
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Liz and Bill Spear
RE/MAX Elite 513.520.5305 www.LizTour.com - Mason, OH
RE/MAX Elite Warren County OH (Cincinnati/Dayton)

Jeff, Great report on San Marcos and with it being December and the holiday season, I think we can "blame" those decreases on different priorities and expect a bounce .  You've got far more cash buyers than our market.  With your coverage of the market, San Marcos buyers and sellers would be doing themselves a favor by talking to you about obtaining your services.

Jan 10, 2017 02:12 PM #5
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George Souto
George Souto NMLS #65149 FHA, CHFA, VA Mortgages - Middletown, CT
Your Connecticut Mortgage Expert

Jeff it is never good to see a decrease in sales from the previous month, but it is December, and December tends to be one of the slowest sales months of the year.  Hopefully January will show an increase.

Jan 10, 2017 05:43 PM #7
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Jeff Dowler

The Southern California Relocation Dude - Carlsbad
What's my Carlsbad CA Area Home Worth??
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