The San Marcos real estate market continues to evolve, especially with the large number of distress sales. These data do not include any private sales nor manufactured housing; the numbers are derived from the MLS and are believed to be accurate but are not guaranteed.
Media reports speak in general terms, rather than local, so that information may not represent the reality of our local San Marcos real estate market. Having data from a knowledgeable agent about the local market conditions benefits you as the buyer or seller.
In January 2009 there were 74 homes sold in San Marcos' 2 zipcodes, as compared to 103 for December (a 28% decrease in sales). Here's the breakdown of overall activity.
|
|
TOTAL HOMES |
Detached |
Attached |
|
Number
|
74 (down 28% |
54 |
20 |
|
Days on Market
|
57 |
56 |
57 |
|
Average $/SF
|
$186/SF |
$188/SF |
$181/SF |
|
Average Sales Price
|
$354,989 |
$402,148 |
$219,560 |
|
Median Sales Price
|
$350,000 |
$384,950 |
$216,250 |
|
Average Sale$ / List$
|
99% |
98% |
101% |
The number of sales was almost 30% less than in December. This is not surprising given that with the holidays sales activity would be expected to decline; the homes that went under contract in December are the ones showing as closed deals in January.
It's important to note that 53% of the sales were REOs (bank owned properties) and 27% were short sales or homes in the foreclosure process, a grand total of 80% of all sales in January.
At the end of January 2009 there were 417 San Marcos homes for sale (280 detached, priced from $139K up to $7.15 million, and 137 attached homes, priced from $69,900 to $579,000), a decrease of 23% in total inventory from December. This represents an inventory of 4.9 months for attached homes and 4.2 months for detached based on the current rate of sales over the last 6 months. These absorption rates continue to be encouraging when compared to many other parts of the country, some of which have over 2 years of inventory.
In January 101 new homes came on the market: 60 detached and 41 attached. During this time 118 homes went pending (88 detached, 30 attached) as compared to 92 going pending in December.
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 Carlsbad.
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If I can provide more information about San Marcos, Carlsbad and surrounding areas, or the housing market in general, or otherwise assist you in your homes search, please contact me by phone or text at (760) 840-1360 or email me at JDowler@remax.net.
All content copyright © 2008 Jeff Dowler Carlsbad Homes and Real Estate Tidbits
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