What’s the Value of my San Marcos Home?
San Marcos Market Report for September 2021
The San Marcos real estate market continues to shift on a monthly basis. These data do not include private sales, mobile homes or multi-family housing (the data are taken from the MLS and are believed to be accurate at the time this report was published, but are not guaranteed).
Having details about current local market conditions benefits you as a seller or buyer so you can make educated decisions about buying and selling San Marcos homes for sale especially in this competitive market.
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In September 2021 there were 129 homes sold in San Marcos’ 2 zip codes (92069 and 92078), 16% more home sales than last month. Here’s the breakdown of overall activity.
Single Family Homes Sold
90 (up 27%); 16 Average Days on Market; Average Sales Price $973,673 (down 9%); Average sale 101% of original asking price
Condos, Townhomes and Duplexes Sold
39 (up by 1); 14 Average Days on Market; Average Sales Price $620,618 (up 7%); Average sale 101% of original asking price
Overall sales volume in September rose significantly from last month, with more single family home sales, but only 1 more condo, townhome and duplex sale. The average sales price dropped for single family homes, but rose modestly for condos, townhomes, and duplexes. Sales prices ranged from $265,000 to $2,050,000.
The average time on the market (DOM) was 4 days longer for single family homes, but 2 days shorter for condos, townhomes and duplexes. Home buyers should expect to make quick decisions about viewing listings meeting their needs, and to make offers quickly in order to not miss out. Almost half the homes, 47%, went pending in 1 week or less.
While a number of buyers negotiated sales prices down from list price, 67% of the buyers paid full price or more for their new homes! The median sales price of single family homes was $872,500 (down 7%), and $635,000 (up 5%) for condos, townhomes and duplexes.
There were 3 San Marcos homes for sale at the end of September with an Active Under Contract status, compared to 6 last month. These homes are included in the overall Active statistics below.
The San Marcos housing inventory declined again in September, with 62 homes for sale (vs. 80 last month); list prices range from $153,000 to $4,750,000. This represents an inventory of only 15 days for condos, townhomes and duplexes (down from 19 days last month) and only 13 days for single family homes, down from 20 days in August, based on the rate of sales over the last 3 months.
The San Marcos real estate market remains a very strong seller’s market.
In September 2021 we again saw fewer new listings, 89, as compared to 100 last month but still about 3 per day. The number of homes going pending also dropped from 105 last month to 82 (excluding homes that closed in September). Despite these shifts September was a 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 September. I can provide more details regarding current activity, within the zip codes of San Marcos (92078 and 92069), and in specific neighborhoods that may be of interest including San Elijo Hills, Twin Oaks, Lake San Marcos, or Santa Fe Hills.
Let’s talk real estate! Please reach out to me at (760) 840-1360 to discuss your specific housing needs, timing, lifestyle, and budget, and any questions you have. We will then create a strategy to help you buy a new home in San Marcos in 2021.
Are you thinking about selling your San Marcos home? Let’s find a time to have a conversation and review current market conditions affecting your sale, discuss a market and equity analysis of your home, and create a strategy that will make your sale happen quickly and for the best price, terms and conditions.
SEARCH FOR SAN MARCOS HOMES FOR SALE
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