What’s my San Marcos Home Worth?
San Marcos Homes Real Estate Market Report for July 2015?
The San Marcos real estate market continues to shift. These data do not include private sales or manufactured housing; the numbers are derived from the MLS and are believed to be accurate at the time this report was published, but are not guaranteed.
Media reports speak in general terms, so their information does not represent the reality of our local San Marcos housing market. Having details about local market conditions benefits you as the buyer or seller so you can make informed decisions about buying and selling San Marcos homes for sale.
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In July 2015 there were 143 homes sold in San Marcos’ 2 zip codes (92069 and 92078), about the same as last month (142), up 1%. Here’s the breakdown of overall activity.
|
TOTAL |
DETACHED |
ATTACHED |
# Sold |
143 (up 1%) |
93 (down 2%) |
50 (up 6%) |
Ave. $ |
$524,041 (no change) |
$610,704 (up 1%) |
$362,848 (up 1%) |
DOM |
28 |
25 |
34 |
List $/Sale $ |
97% |
98% |
97% |
Overall sales volume in July changed slightly from June, with only 1 more sale overall, but another increase - there was a modest decline in detached home sales but we saw more attached homes sell on July. We also saw a slight increase in average sales prices for detached homes and attached homes. Days on market remained the same for detached homes but increased modestly for attached.
17% of the transactions were cash, compared to 13% last month. Buyers negotiated their asking prices on average 2 - 3%, but a few homes sold for over asking price with others selling below the list price. The Median sales price of detached homes was $575,000 (down 3%) and $363,000 (down 7%) for attached homes/condos.
There were 17 San Marcos homes for sale at the end of July with a Contingent status (7% of the total), i.e., homes with offers awaiting approval from 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 (be aware that many of these have multiple offers in place and some are not being shown nor accepting more offers).
The San Marcos real estate market inventory increased from June by 8% to 244, the 5th consecutive increase. This represents an inventory of only 1.6 months for attached homes (down from 2 months last month) and 2.3 months for detached (the same as last month) based on the current rate of sales over the last 6 months. The San Marcos real estate market continues to be very competitive for buyers, and remains a strong seller’s market.
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In July 2015 we saw 180 homes come on the market, a decrease of 7% from last month. The number of homes going pending in July also decreased by 20% to 113.
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 July. 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).
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What’s My San Marcos Home Worth? San Marcos Real Estate Market Report June 2015
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