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

 

San Elijo Town Center in San MarcosThe 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 August 2018 there were 102 homes sold in San Marcos’ 2 zip codes (92069 and 92078), down 16% from last month. Here’s the breakdown of overall activity.

 

TOTAL HOMES SOLD

102 (down 16%), 29Days on Market, Ave. Sales Price $680,279 (up 4%), Ave. sale 98% of asking price

Detached Homes Sold
74 (down 16%), 28 Days on Market, Ave. Sales Price $778,455 (up 8%), Ave. sale 98% of asking price

Attached Homes (condos, town homes) Sold
28 (down 18%), 31 Days on Market, Ave. Sales Price $476,564 (down 12%), Ave. sale 97% of asking price

 

Overall sales volume in August decreased fairly substantially from July. Average time on market shifted up slightly for detached but more significantly for attached homes, but remains at or below 1 month.

 

14% of the transactions were for cash, compared to 10% last month. Buyers negotiated their asking prices on average by 2 - 3%, but 36% of the homes sold at or above asking price! The median sales price of detached homes was $699,950 (up by 1%) and $445,000 (down 9%) for attached homes/condos/town homes.

 

There were 9 San Marcos homes for sale at the end of August with a Contingent status (4% of the total) compared to 3 last month. Typically these are homes with offers awaiting approval from short sale and REO lenders, but 6 are first right of refusals based on contingent offers; 2 are short sales and 1 needs court approval. These homes are included in the overall Active statistics since they are still considered active until the approvals are obtained.

 

San Marcos home

 

The San Marcos real estate market inventory increased substantially by 22% from July to 234, which is more than double the inventory in January. This represents an inventory of 2.2 months for attached homes (up from 1.5 months last month) and 1.9 months for detached (up from 1.7 months last month) based on the current rate of sales over the last 3 months. The San Marcos real estate market remains a very strong seller’s market given the buyer demand and current inventory.

 

In August 2018 we saw 154 homes come on the market, a slight increase in new listings, up by 2 (1%) from last month. In contrast the number of homes going pending in August decreased, by 21% to 75 pendings.

 

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 August. 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 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 so we can review the current market conditions, the expected value of your property, and discuss a strategy to make your sale happen quickly and for top dollar.

 

SEARCH FOR SAN MARCOS HOMES FOR SALE

 

READ MORE:

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

close

This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At
Topic:
Real Estate Market Trends
Location:
California
Groups:
CALIFORNIA REAL ESTATE
Market Updates
Market Reports
HyperLocal Neighborhood and Community Posts
Tags:
san marcos homes for sale
homes for sale in san marcos
san marcos real estate market reports

Post a Comment
Spam prevention
Spam prevention
Show All Comments
Rainmaker
753,238
Anthony Acosta - ALLATLANTACONDOS.COM
Harry Norman, REALTORS® - Atlanta, GA
Associate Broker

Good day 

Thank you for sharing your information with us 

Have a great day.

09/07/18. 

Sep 07, 2018 05:33 PM #1
Rainmaker
1,357,089
Bob "RealMan" Timm
Tivoli Custom Homes - Minot, ND
Bob Timm, Project Coordinator for Tivoli Homes

Interesting report Jeff Dowler, CRS . Is this a seasonal slow down?

Sep 07, 2018 07:28 PM #2
Ambassador
3,720,189
Jeff Dowler, CRS
Solutions Real Estate - Carlsbad, CA
The Southern California Relocation Dude

Bob "RealMan" Timm 

It may be the summer. Other communities nearby went UP in sales. This community has been very competitive...I don't think this drop in sales is a trend, but that's a good question you've asked. Time will tell.

Jeff

Sep 07, 2018 07:46 PM #3
Rainmaker
4,224,866
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.

Sep 08, 2018 04:07 AM #4
Rainmaker
2,780,863
Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

Great information as always Jeff from you and buyers  and sellers should be reading your blogs all the time.

 

Sep 08, 2018 11:39 AM #5
Rainmaker
1,646,795
Grant Schneider
Performance Development Strategies - Armonk, NY
Your Coach Helping You Create Successful Outcomes

Good morning Jeff - thanks for the update.  I see your shift in the report and will look forward to future reports since trends tell us even more.

Sep 10, 2018 05:48 AM #6
Post a Comment
Spam prevention
Show All Comments

What's the reason you're reporting this blog entry?

Are you sure you want to report this blog entry as spam?

Ambassador
3,720,189

Jeff Dowler, CRS

The Southern California Relocation Dude
What's my Carlsbad CA Area Home Worth??
*
*
*
*
Spam prevention

Additional Information