What’s my San Marcos Home Worth? San Marcos Market Report April 2018

By
Real Estate Agent with Solutions Real Estate CA DRE #01490977

What’s the Value of my San Marcos Home?

San Marcos Home Sales for April 2018

 

San Elijo Hills town centerThe San Marcos real estate market continues to shift. These data do not include private sales or manufactured housing; the data are derived from the MLS and are believed to be accurate at the time this report was published, but are not guaranteed.

 

Having details about local market conditions benefits you as a buyer or seller so you can make informed decisions about buying and selling San Marcos homes for sale.

 

READ MORE:

San Marcos - A Thriving Inland Residential Community

San Elijo Hills – Award-Winning Master Planned Community in San Marcos

Lake San Marcos – Resort and Residential Community in San Marcos, CA

 

In April 2018 there were 99 homes sold in San Marcos’ 2 zip codes (92069 and 92078), an 8% increase in sales from last month. Here’s the breakdown of overall activity.

 

TOTAL HOMES SOLD

99 (up 8%), 16 Days on Market, Ave. Sales Price $718,128 (up 24%) Ave. sale 99% of asking price

Detached Homes Sold
72 (up 11%), 16 Days on Market, Ave. Sales Price $802,330 (up 21%), Ave. sale 99% of asking price

Attached Homes Sold
27 (down 4%), 16 Days on Market, Ave. Sales Price $493,588 (up 31%), Ave. sale 98% of asking price

 

Overall sales volume in April increased, by 8%, from March, a trend we saw in other nearby communities. Detached home sale increased, while attached home sales remained close to the same. Average time on market decreased for both detached and attached homes to a little over 2 weeks.

 

12% of the transactions were for cash, compared to 21% last month. Buyers negotiated their asking prices on average by 1 - 2%, but 47% of the homes sold at or above asking price! The median sales price of detached homes was $707,000 (up 7%) and $492,400 (up 30%) for attached homes/condos/town homes.

 

There were 11 San Marcos homes for sale at the end of April with a Contingent status (7% of the total), i.e., typically these are homes with offers awaiting approval from short sale and REO lenders, compared to 7 last month. These homes are included in the overall Active statistics since they are still considered active until the approvals are obtained (be aware that these may have multiple offers in place; some are not being shown nor accepting more offers).

 

San Marco home

 

The San Marcos real estate market inventory increased significantly from March, by 22% to 158. This represents an inventory of 1.6 months for attached homes (up from 1 month last month) and 1.9 months for detached (up from 1.4 months last month) based on the current rate of sales over the last 3 months. Despite the inventory increase the San Marcos real estate market remains a very strong seller’s market.

 

In April 2018 we saw 142 homes come on the market, another big bump in new listings by 34% from last month, more good news for buyers. The number of homes going pending in April also increased substantially from March to 104, up by 25%.

 

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 month of so and closed in April. I can provide more details regarding current activity, within the specific zip codes of San Marcos (92078 and 92069), or on certain neighborhoods of interest including San Elijo Hills, Twin Oaks, Lake San Marcos, or Santa Fe Hills.

 

Please call me at (760) 840-1360 so we can discuss your specific housing needs and budget, and any questions you have, so we can make a plan to get you into a new home in San Marcos soon.

 

And if you are considering selling your home in San Marcos, let’s get together to review the current market conditions, the value of your property, and discuss a strategy to make your sale happen.

 

SEARCH FOR SAN MARCOS HOMES FOR SALE

 

READ MORE:

What’s My San Marcos Home Worth? San Marcos Real Estate Market Report March 2018

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Rainmaker
1,594,490
Lise Howe
Keller Williams Capital Properties - Washington, DC
Assoc. Broker and Attorney Licensed in DC, MD, VA,

San Marcos looks like a beautiful community and you are clearly the agent in the know

May 08, 2018 04:05 AM #1
Rainmaker
2,937,732
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

Good morning Jeff. Supply low, demand high! List price to sales price ratio amazing. Enjoy your day!

May 08, 2018 04:42 AM #2
Rainmaker
4,319,042
Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

You always provide good information about your housing market. Thank you for sharing 

May 08, 2018 06:05 AM #3
Rainmaker
4,967,924
Roy Kelley
Realty Group Referrals - Gaithersburg, MD
Roy and Dolores Kelley Photographs

San Marcos home sellers will be in very good hands when they select you as their listing agent.

May 08, 2018 10:20 AM #4
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Jeff Dowler, CRS
Solutions Real Estate - Carlsbad, CA
The Southern California Relocation Dude

Hi Lise Howe 

There are some beautiful areas, near the lake and in the hills, with wonderful views. And a positive for many buyers are lower prices than near the coast!

Jeff

May 09, 2018 08:10 PM #5
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Jeff Dowler, CRS
Solutions Real Estate - Carlsbad, CA
The Southern California Relocation Dude

Thanks for stopping by Wayne Martin  It's been very competitive there for several years and prices have gone up substantially since the recession. There are good opportunities but you have to move quickly

Jeff

May 09, 2018 08:12 PM #6
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Jeff Dowler, CRS
Solutions Real Estate - Carlsbad, CA
The Southern California Relocation Dude

Thanks for the kind words Gita Bantwal 

I appreciate the compliment Roy Kelley . There's a lot to like about this community.

Jeff

May 09, 2018 08:13 PM #7
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