What’s my San Marcos Home Worth?
San Marcos Homes Real Estate Market Report for August 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 August 2015 there were 131 homes sold in San Marcos’ 2 zip codes (92069 and 92078), down 8% from last month. Here’s the breakdown of overall activity.
TOTAL HOMES SOLD
131 (down 18%), 29 Days on Market, Ave. Sales Price $561,619 (up 7%), Ave. sale 97% of asking price
Detached Homes Sold
98 (up 5%), 28 Days on Market, Ave. Sales Price $633,426 (up 4%), Ave. sale 97% of asking price
Attached Homes Sold,
33 (down 34%), 32 Days on Market, Ave. Sales Price $348,375 (down 4%), Ave. sale 98% of asking price
Overall sales volume in August declined from July, fueled by a significant drop in attached home sales coupled with a rise in detached home sales. We also saw a modest increase in average sales prices for detached homes but a decline for attached. Days on market remained roughly the same, about 1 month, across the board.
16% of the transactions were cash, compared to 17% last month. Buyers negotiated their asking prices on average 2 - 3%, but some homes sold for over asking price. The Median sales price of detached homes was $585,600 (up 2%) and $394,000 (up 9%) for attached homes/condos.
There were 15 San Marcos homes for sale at the end of August 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 decreased from July by 11% to 244 following 5 consecutive increases. This represents an inventory of only 1.4 months for attached homes (down from 1.6 months last month) and 1.9 months for detached (down from 2.3 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 August 2015 we saw 133 homes come on the market, a decrease of 26% from last month. The number of homes going pending in August also decreased by 4% to 109.
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 August. 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 July 2015
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