What’s the Value of my San Marcos Home?
San Marcos Market Report for August 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 August 2019 there were 132 homes sold in San Marcos’ 2 zip codes (92069 and 92078), a 13% increase from last month. Here’s the breakdown of overall activity.
Detached Homes Sold
87 (up 10%), 34 Days on Market, Average Sales Price $720,405 (no change), Average sale 97% of original asking price
Attached Homes (condos, town homes) Sold
45 (up 18%), 32 Days on Market, Average Sales Price $421,546 (down 2%), Average sale 96% of original asking price
Overall sales volume in August increased compared to last month, and for both detached and attached home sales. Average sales prices did not shift for detached single family homes but declined slightly for attached homes. Average days on the market rose slightly by several days for both detached and attached homes but remains just a little longer than a month.
9% of the transactions were for cash, versus 12% last month. While buyers negotiated sales prices on average by 3 - 4% off original price, 32% of San Marcos home buyers paid full price or more for their new homes, a good indicator of competition and multiple offers! The median sales price of detached homes was $689,000 (up 3%) and $427,000 (down 8%) for attached homes/condos/townhomes.
There were 8 San Marcos homes for sale at the end of August with a Contingent status, versus 9 last month. 1 is a short sale, and the other 7 are first right of refusals. These homes are included in the overall active statistics.
The San Marcos real estate market inventory decreased, again, by 4% from July to 217 listings following 3 months of inventory increases. This represents an inventory of only 1.5 months for attached homes (down from 2 months last month) and 1.9 months for detached single family homes (the same as 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, based on the buyer demand and current inventory.
In August 2019 we saw 139 homes come on the market, 11% fewer than last month. The number of homes going pending in August also decreased, by 20%, to 88 pendings (excluding homes that sold in August).
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 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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