Here are the summary market statistics from the MLS for January and February 2007 for San Marcos.
It's important to note that firm conclusions about San Marcos real estate should not be drawn from these data, since we are looking at a limited sample of homes for sale (31 days in January, and 59 days at the end of February). The inventory in San Marcos is essentially the same for both January and February, which represents a drop of 37% from the peak inventory we saw in August 2006.
We are still seeing some shifts in the median price from month to month, likely due to correction that is still going on as well as the changes in the inventory of homes for sale. The prices have dropped a bit for attached homes from the level we saw a year ago, but the median has remained pretty much the same for detached homes.
The next few months will be helpful in gaining a better idea of where the housing market is headed in San Marcos.
[photo is of Lake San Marcos, in the resort/neighborhood of the same name, on the western end of town bordering Carlsbad]
AS OF JAN. 2007
ATTACHED HOMES
DETACHED HOMES
Active (homes for sale)
154
344
New on market in January
52
116
Sold in Last 6 Months
94
306
Sold/Pending In Last 6 months
118
408
Absorption Rate (Solds)
295 days
202 days
Absorption Rate (Solds Plus Pendings)
235 days
152 days
Average Days on Market
77
97
Median Price Change From 1 Year Ago
-4%
0%
Median Price
$364,995
$601,000
% Chng. In MDN from prior month
-7%
3%
Average Price
$393,398
$613,007
AS OF FEB. 2007
ATTACHED HOMES
DETACHED HOMES
Active (homes for sale)
157
344
New on market in February
47
118
Sold in Last 6 Months
99
308
Sold/Pending In Last 6 months
133
417
Absorption Rate (Solds)
285 days
201 days
Absorption Rate (Solds Plus Pendings)
212 days
148 days
Average Days on Market
84
93
Median Price Change From 1 Year Ago
-7%
-1%
Median Price
$372,495
$595,000
% Chng. In MDN from prior month
0%
-1%
Average Price
$364,104
$600,016
As an San Marcos REALTOR, if I can provide more information or answer any questions about the San Marcos housing market, or other surrounding communities (e.g., Encinitas, Del Mar, Solana Beach, Carlsbad/La Costa, Cardiff), please email me at jdowler@remax.net or call my cell (760) 840-1360.
If you are a first time buyer, check out First Time Buyer Central for information on the buying process and everything you need to know as a buyer. And if you are relocating, Relocation A to Z is a great resource.
Here are some other articles that may be of interest to you:
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Here are the summary market statistics from the MLS for January and February 2007 for San Marcos.
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