What’s my San Marcos Home Worth? San Marcos Market Report April 2020

By
Real Estate Agent with eXp Realty of California, Inc. CA DRE #01490977

What’s the Value of my San Marcos Home?

San Marcos Home Sales for April 2020

 

San Elijo Hills town center in San Marcos CAThe 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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San Elijo Hills – Award-Winning Master Planned Community in San Marcos

Lake San Marcos – Resort and Residential Community in San Marcos, CA

 

In April 2020 there were 77 homes sold in San Marcos’ 2 zip codes (92069 and 92078), 25% fewer home sales than last month. Here’s the breakdown of overall activity

Detached Homes Sold
57 (down 3%), 26 Days on Market, Average Sales Price $779,809 (down 5%), Average sale 99% of original asking price

Attached Homes (condos, town homes) Sold
20 (down 53%), 15 Days on Market, Average Sales Price $468,635 (up 6%), Average sale 101% of original asking price

 

Overall sales volume in April was substantially lower than last month, mostly due to a big decline in sales of attached homes. The average sales price decreased for detached single family homes but increased for attached homes. The average time on the market was a few days shorter for detached homes and substantially shorter for attached homes, and is under 1 month.

 

5% of the transactions were for cash, vs. 16% last month. While buyers negotiated sales prices on average by 1% off original price, well over half of the San Marcos home buyers, 68%, 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 $719,000 (no change) and $499,000 (up 6%) for attached homes/condos/townhomes.

 

There were 3 San Marcos homes for sale at the end of April with a Contingent status, versus 6 last month. All are first right of refusals. These homes are included in the overall Active statistics.                                                                                                                                                                                        

 

The San Marcos real estate market inventory was the same as last month, with 100 homes for sale. This represents an inventory of only 1.2 months for attached homes (up from 1 month last month) and 1.2 months for detached single family homes (down from 1.3 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, based on the buyer demand and current inventory, especially for attached homes, even during the pandemic.

 

San Marcos home

 

In April 2019 we saw 70 homes come on the market, about 2/3 the number of new listings last month (down 35%). The number of homes going pending also declined, by 19%, to 57 pendings (excluding the homes that closed in April), but that’s still about 2 pendings per day.

 

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 April. 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 get your home sold quickly and for top dollar.

 

We should also talk about the specific CDC recommendations in place, and new procedures due to the SIP Order that impact showings and sales in our area, and I’ll answer any questions you have about what this means for buying and selling.

 

SEARCH FOR SAN MARCOS HOMES FOR SALE

 

READ MORE:

What’s My San Marcos Home Worth? San Marcos Real Estate Market Report March 2020

Comments (10)

Endre Barath, Jr.
Berkshire Hathaway HomeServices - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Jeff what great pictures to illustrate you post, clearly the spammers like it too, two comments already:)Endre

May 04, 2020 11:22 PM
Joseph Doohan
Joseph Doohan - Las Vegas, NV
I offer business strategy advice for realtors

Thank you for taking the time to keep us posted and up to date. Wishing you a great day ahead! Take care.

May 05, 2020 01:34 AM
Jeremy K. Frost
Keller Williams Realty - Dripping Springs, TX
Associate Broker, ABR,CNE,CRS,ePro,PSA,RENE,SRS

Thank you for keeping us posted and up to date. Best of luck!

May 05, 2020 08:44 AM
Jeff Dowler, CRS
eXp Realty of California, Inc. - Carlsbad, CA
The Southern California Relocation Dude

Ha ha Endre Barath, Jr. 

Yep the spammers have been active once again. But at least we get points for reporting them - they sure are prolific!

Jeff

May 05, 2020 09:04 AM
Jeff Dowler, CRS
eXp Realty of California, Inc. - Carlsbad, CA
The Southern California Relocation Dude

Thank you Joseph Doohan  To you as well.

I appreciate your stopping by Jeremy K. Frost  Hope all is well in Dripping Springs.

Jeff

May 05, 2020 01:52 PM
Myrl Jeffcoat
Sacramento, CA
Greater Sacramento Realtor - Retired

San Marcos home buyers and sellers are sure to value your real estate market report, Jeff!

May 06, 2020 01:34 AM