What’s the Value of my San Marcos Home?
San Marcos Market Report for December 2018
The 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.
In December 2018 there were 72 homes sold in San Marcos’ 2 zip codes (92069 and 92078), down 19% from last month, a trend seen in other communities during the holiday season. Here’s the breakdown of overall activity.
Detached Homes Sold
.52 (down 15%), 39 Days on Market, Ave. Sales Price $747,730 (up 2%), Ave. sale 97% of asking price
Attached Homes (condos, town homes) Sold
20 (down 29%), 46 Days on Market, Ave. Sales Price $429,520 (up 5%), Ave. sale 91% of asking price
Overall sales volume in December dropped substantially compared to last month, but average sales prices rose. Average time on market shifted up particularly for attached homes.
14% of the transactions were for cash, compared to 17% last month. While buyers negotiated their asking prices on average by 3 - 9%, 16% of the San Marcos home buyers paid full price or better! The median sales price of detached homes was $717,450 (up 6%) and $434,500 (down 3%) for attached homes/condos/town homes.
There were 2 San Marcos homes for sale at the end of December with a Contingent status (4% of the total) compared to 3 last month. Typically these are homes with offers awaiting approval from short sale (1) and REO lenders, but 1 is a first right of refusal based on a contingent offer. These homes are included in the overall Active statistics.
The San Marcos real estate market inventory decreased, again, by 21% from November to 169, a trend seen in other communities over the holidays. This represents an inventory of 1.9 months for attached homes (down from 2.5 months last month) and 2.2ed 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 December 2018 we saw 57 homes come on the market, a decrease in new listings, by 40%, from last month. Similarly the number of homes going pending in December decreased, by 30%, to 45 pendings (excluding homes that sold last month).
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 December. 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 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.