What’s the Value of my San Marcos Home?
San Marcos Home Sales for January 2019
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 January 2019 there were 56 homes sold in San Marcos’ 2 zip codes (92069 and 92078), down 22% from last month, another decline in sales. Here’s the breakdown of overall activity.
Detached Homes Sold
36 (down 31%), 42 Days on Market, Ave. Sales Price $729,416 (down 2%), Ave. sale 96% of asking price
Attached Homes (condos, town homes) Sold
20 (no change), 34 Days on Market, Ave. Sales Price $421,000 (down 2%), Ave. sale 97% of asking price
Overall sales volume in January dropped substantially compared to last month, due to a decline in detached single family home sale. Average sales prices also declined modestly. Average time on market shifted up for detached homes but dropped for attached properties.
18% of the transactions were for cash, compared to 14% last month. While buyers negotiated their asking prices on average by 3 - 4%, 36% of the San Marcos home buyers paid full price or better! The median sales price of detached homes was $717,450 (down 5%) and $438,000 (up 1%) for attached homes/condos/town homes.
There were 10 San Marcos homes for sale at the end of January with a Contingent status (5% of the total) compared to 2 last month. A number of these are homes with offers awaiting approval from short sale and REO lenders, several are first right of refusals based on contingent offers. These homes are included in the overall Active statistics.
The San Marcos real estate market inventory increased, by 8%, from December to 182, a trend seen in other communities. This represents an inventory of 1.9 months for attached homes (the same as last month) and 2.8 months (up from 2.2 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, especially for attached homes, given buyer demand and current inventory.
In January 2019 we saw 57 homes come on the market, more than double the number of new listings in December (up 153%). Similarly the number of homes going pending in January also increased, by 78%, to 80 pendings (excluding homes that sold last month), so there was a fair amount of activity following the holidays.
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 January. 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, and 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.