San Marcos Homes for Sale - San Marcos Real Estate Market Report for January 2011

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Real Estate Agent with eXp Realty of California, Inc. CA DRE #01490977

San Marcos Real Estate Market Report for January 2011

San Marcos Real Estate Market Report for January 2011

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.

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Media reports tend to speak in general terms, rather than local, so their information will not likely represent the reality of our local San Marcos real estate market. Having data from a knowledgeable agent about local market conditions benefits you as the buyer or seller when making decisions about buying and selling. 

In January 2011 there were 62 homes sold in San Marcos' 2 zip codes (92069 and 92078), 46% less than last month. Here's the breakdown of overall activity.

 

 

TOTAL

DETACHED

ATTACHED

# Sold

62 (down 46%)

40 (down 47%)

22 (down 46%)

Ave. $

$339,366 (down 2%)

$399,031 (down 3%)

$230,885 (up 10%)

DOM

76

68

89

List $/Sale $

97%

96%

98%

 

Sales volume declined dramatically across the board, while average prices dipped modestly for detached homes but rose for attached properties. 

There were 121 San Marcos homes for sale at the end of January with a Contingent status, i.e., homes with offers awaiting approval from the short sale and REO lenders. These homes are included in the overall Active stats since they are still considered active until the approvals are obtained. 

At the end of January 2011 the San Marcos real estate market had 441 homes for sale (27% are contingent), just 3 more homes than in December. This represents an inventory of 5.2 months for attached homes (up from 5 months) and 4.8 months for detached (up from 4.6 months at the end of December) based on the current rate of sales over the last 6 months.

READ MORE:   How Important is Inventory when Buying or Selling? Very!!

In January 2011 we saw 154 homes come on the market, a whopping 54% more than last month. The number of homes going pending in January (81) was more than 3 times the number that went pending in December (25), likely because of the holidays. 

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 January. More details can be provided if needed with regard to current activity as well as within the specific zip codes of San Marcos (92078 and 92069).

READ MORE:

San Marcos Homes for Sale | San Marcos Real Estate Market Report for November 2010

San Marcos Homes for Sale | San Marcos Real Estate Market Report for November 2010

San Marcos Homes for Sale| San Marcos Real Estate Market Report for October 2010

San Marcos Homes for Sale | San Marcos Real Estate Market Report for September 2010

San Marcos Homes for Sale | San Marcos Real Estate Market Report for August 2010

San Marcos Homes for Sale - San Marcos Real Estate Market Report for July 2010

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Rainmaker
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Ginny Gorman
RI Real Estate Services ~ 401-529-7849~ RI Waterfront Real Estate - North Kingstown, RI
Homes for Sale in Southern RI and beyond
well Jeff, the absorption rate is good right now in San Marcos and that's good for realtors too!
Feb 09, 2011 03:12 AM #1
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Lee & Pamela St. Peter
Berkshire Hathaway HomeServices YSU Realty: (919) 645-2522 - Raleigh, NC
Making Connections to Success in Real Estate

Sounds like there was some pent-up sellers in San Marcos Jeff.  But I agree with Ginny, a 5.2 absorption rate isn't that bad.  Hope that the spring market will help to lower that number back down.

Feb 09, 2011 04:02 AM #2
Rainer
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Jack Mossman - The Nines Team at Keller Williams in Lodi
The Nines Team at Keller Williams in Lodi - Lodi, CA
The Nines Team in Lodi

Jeff - things are starting to look a little "normal" at least on paper.  Unless I'm doing something really wrong (and there is always that possibility) I can't find a San Diego area of San Marcos ... could you provide a little geographic education?  Thanks ...

Feb 09, 2011 01:24 PM #3
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Jeff Dowler, CRS

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