What’s the Value of my San Marcos Home?
San Marcos Home Sales Report for April 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 up-to-date 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.
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In April 2019 there were 106 homes sold in San Marcos’ 2 zip codes (92069 and 92078), a 5% decrease from last month. Here’s the breakdown of overall activity.
Detached Homes Sold
82 (down 4%), 34 Days on Market, Average Sales Price $700,994 (down 9%), Average sale 97% of original asking price
Attached Homes (condos, town homes) Sold
24 (down 11%), 41 Days on Market, Average Sales Price $484,458 (up 3%), Average sale 98% of original asking price
Overall sales volume in April decreased modestly compared to last month, with a larger decline for attached single family home sales. Average sales prices dropped for detached homes but rose modestly for attached home sales. Average time on market shifted down for detached properties but increased for detached single family homes.
15% of the transactions were for cash, compared to 13% last month. While buyers negotiated sales prices on average by 2 - 3% (off original price), 30% of San Marcos home buyers paid full price or more! The median sales price of detached homes was $662,500 (down 7%) and $480,000 (no change from last month) for attached homes/condos/town homes.
There were 6 San Marcos homes for sale at the end of April with a Contingent status, the same as last month. All 6 are first right of refusals based on contingent offers accepted by sellers. These homes are included in the overall Active statistics.
The San Marcos real estate market inventory increased substantially by 27% from March to 208 listings. This represents an inventory of 2.4 months for attached homes (up from 2.1 months last month) and 2 months for detached single family homes (up from 1.6 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 buyer demand and current supply.
In April 2019 we saw 196 homes come on the market, substantially more than the number of new listings in March (up 50%). Similarly the number of homes going pending in April also increased, by 12%, to 14 pendings (excluding homes that sold last month). Both are signs of our active Spring housing market.
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 so we can review the current market conditions, do a market and equity analysis, then discuss a strategy to make your sale happen quickly and for top dollar.
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