What’s the Value of my San Marcos Home?
San Marcos Market Report for November 2020
The San Marcos real estate market continues to change. These data do not include private sales or manufactured housing (the data are derived from the MLS and are believed to be accurate at the time this report was published, but are not guaranteed).
Having details about up-to-date 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.
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In November 2020 there were 119 homes sold in San Marcos’ 2 zip codes (92069 and 92078), 9% more home sales than last month. Here’s the breakdown of overall activity.
Single Family Homes Sold
84 (up 18%); 11 Average Days on Market; Average Sales Price $864,363 (up 1%); Average sale 100% of original asking price
Condos, Townhomes and Duplexes Sold
35 (down 8%); 13 Average Days on Market; Average Sales Price $450,080 (down 7%); Average sale 101% of original asking price
Overall sales volume in November rose from last month, with an increase in single family home sales but a decrease in sales of condos, townhomes and duplexes. The average sales price shifted upward slightly for single family homes but was lower for condos, townhomes, and duplexes.
While some buyers negotiated sales prices down from list price, the majority of buyers – 72% - paid full price or more for their new homes, a reflection of the competition and multiple offers! The median sales price of single family homes was $785,000 (up 8%) and $441,333 (down 12%) for condos, townhomes and duplexes.
There were 3 San Marcos homes for sale at the end of November with an Active Under Contract status, the same as last month. These homes are included in the overall Active statistics below.
The San Marcos housing inventory dropped significantly from last month by 29%, with 49 homes for sale. This represents an inventory of only 11 days for condos, townhomes and duplexes (down from 16 days last month) and 14 days for single family homes, down from 17 days in October, based on the rate of sales over the last 3 months.
The San Marcos real estate market remains a very strong seller’s market, based on the buyer demand and current inventory, and became even more competitive, with fewer homes for sale in November.
In November 2020 we saw fewer homes come on the market, 76 as compared to 110 last month - not big surprise for the time of year. The number of homes going pending also decreased, by 40%, to 75 pendings (excluding the homes that closed in November). That said, it was still a relatively busy month for buyers and sellers.
This overview of the San Marcos real estate market is based on data from the MLS for homes that went under contract in the last month or so and closed in November. I can provide more details regarding current activity, within the specific zip codes of San Marcos (92078 and 92069), or in neighborhoods that may interest you including San Elijo Hills, Twin Oaks, Lake San Marcos, or Santa Fe Hills.
Please call me at (760) 840-1360 to discuss your specific housing needs, timing, and budget, and any questions you have so we can create a strategy to get you into a new home in San Marcos in 2020.
And if you are considering selling your San Marcos home, let’s get together so we can review the current market conditions, do a market and equity analysis, and discuss a strategy to make your sale happen quickly and for top dollar.
SEARCH FOR SAN MARCOS HOMES FOR SALE
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