What’s the Value of my San Marcos Home?
San Marcos Home Sales for January 2020
The San Marcos real estate market continues to change. 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 January 2020 there were 68 homes sold in San Marcos’ 2 zip codes (92069 and 92078), a 31% decrease from last month, a trend we saw in several other communities. Here’s the breakdown of overall activity.
Detached Homes Sold
43 (down 37%), 48 Days on Market, Average Sales Price $778,023 (up 8%), Average sale 97% of original asking price
Attached Homes (condos, town homes) Sold
25 (down 19%), 35 Days on Market, Average Sales Price $472,964 (up 1%), Average sale 97% of original asking price
Overall sales volume in January was significantly lower than last month, and for both detached and attached home sales. The average sales price rose for detached single family homes and also went up slightly for attached homes. The average time on the market was a few days longer for detached homes, and several days less for attached.
24% of the transactions were for cash, vs. 13% last month. While buyers negotiated sales prices on average by 3% off original price, 35% of San Marcos home buyers paid full price or more for their new homes, a good indication of competition and multiple offers! The median sales price of detached homes was $755,000 (up 4%) and $470,550 (down 2%) for attached homes/condos/townhomes.
There were 3 San Marcos homes for sale at the end of January with a Contingent status, versus 2 last month. 1 is a first right of refusal, 2 are short sales. These homes are included in the overall Active statistics.
The San Marcos real estate market inventory increased by 32% from December to 112 listings, after 5 consecutive monthly declines. This represents an inventory of 1.6 months for attached homes (up from under a month last month) and 1.2 months for detached single family homes (up from 1 month 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 January 2019 we saw 121 homes come on the market, substantially more than last month (up 83%). The number of homes going pending also increased, by 24%, to 77 pendings (excluding homes that closed in January).
This overview of the San Marcos real estate market is based on data from the MLS for homes that went under contract in the last month or 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 in neighborhoods that may interest you including San Elijo Hills, Twin Oaks, Lake San Marcos, or Santa Fe Hills.
Please call me at (760) 840-1360 to discuss your specific housing needs, timing, and budget, and any questions you have so we can create a strategy to get you into a new home in San Marcos in 2020.
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 San Marcos home sale happen quickly and for top dollar.
SEARCH FOR SAN MARCOS HOMES FOR SALE
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