What’s the Value of my San Marcos Home?
San Marcos Home Sales Report for March 2021
The San Marcos real estate market continues to shift, especially with the pandemic and great interest rates.
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.
In March 2021 there were 96 homes sold in San Marcos’ 2 zip codes (92069 and 92078), a significant 57% more home sales than last month. Here’s the breakdown of overall activity.
Single Family Homes Sold
71 (up 42%); 9 Average Days on Market; Average Sales Price $933,920 (2% lower); Average sale 105% of original asking price
Condos, Townhomes and Duplexes Sold
25 (up 127%); 13 Average Days on Market; Average Sales Price $487,228 (down 8%); Average sale 103% of original asking price
Overall sales volume in March rose substantially from last month, with a big jump in single family home sales; and condo, townhome and duplex sales more than doubled from February. The average sales price was slightly lower for single family homes, and modestly lower for condos, townhomes, and duplexes. Sales prices ranged from $257,000 to $2,700,000.
The average days on the market (DOM) was shorter for single family homes, as well as for condos, townhomes and duplexes, however 65% of the homes went pending in 1 week or less. Prospective buyers should keep in mind they must decide quickly about touring listings that appeal to them, and should be prepared to make offers in order to not miss out on limited opportunities.
Some buyers were able to negotiate sales prices down from list price, however the majority of buyers, 86%, paid full price or more for their new homes, no doubt the result of multiple offers! The median sales price of single family homes was $850,000 (down 7%), and $490,000 (8% lower) for condos, townhomes and duplexes.
There were 3 San Marcos homes for sale at the end of March with an Active Under Contract status, compared to 2 last month. These homes are included in the overall Active statistics below.
The San Marcos housing inventory decreased from last month with 38 homes for sale compared to 51 last month, at list prices ranging from $130,000 to $5,295,000. This represents an inventory of 25 days for condos, townhomes and duplexes (compared to 24 days last month) and only 13 days for single family homes, down from 18 days in February, based on the rate of sales over the last 3 months.
The San Marcos real estate market continues to be a very strong seller’s market, based on the buyer demand and current inventory, and became even more competitive, with fewer homes for sale in March and a month with substantial sales.
In March 2021 we saw more homes come on the market, 106, as compared to 94 last month which was some good news for buyers. The number of homes going pending also increased, by 36%, to 99 pendings (excluding the homes that closed in March). It was a very busy month for buyers and sellers.
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 March. I can provide more details regarding current activity, within the zip codes of San Marcos (92078 and 92069), and in specific neighborhoods that may interest you including San Elijo Hills, Twin Oaks, Lake San Marcos, or Santa Fe Hills.
Let’s talk! Please call me at (760) 840-1360 to discuss your specific housing needs, timing, lifestyle, and budget, and any questions you have. We will then create a strategy to help you buy a new home in San Marcos in 2021.
And if you are thinking about selling your San Marcos home, lets it’s time to have a conversation to review current market conditions affecting your sale, discuss a market and equity analysis, and create a strategy that will make your home sale happen quickly and for top dollar.