What’s the Value of my San Marcos Home?
San Marcos Home Sales for April 2021
The San Marcos real estate market continues to shift, with changes each month. 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 educated decisions about buying and selling San Marcos homes for sale.
In April 2021 there were 124 homes sold in San Marcos’ 2 zip codes (92069 and 92078), 29% more home sales than last month and another substantial increase in sales. Here’s the breakdown of overall activity.
Single Family Homes Sold
89 (up 25%); 9 Average Days on Market; Average Sales Price $1,006,380 (8% higher); Average sale 106% of original asking price
Condos, Townhomes and Duplexes Sold
35 (up 40%); 11 Average Days on Market; Average Sales Price $565,438 (up 16%); Average sale 107% of original asking price
Overall sales volume in April rose substantially from last month, with a big jump in single family home sales, and a more significant increase for condo, townhome and duplex sales from last month. The average sales price was higher for single family homes, as well as for condos, townhomes, and duplexes. Sales prices ranged from $280,000 to $3,095,000.
The average days on the market (DOM) was the same for single family homes, but slightly shorter for condos, townhomes and duplexes compared to last month. Home buyers should keep in mind they must decide quickly about touring listings that are appealing, and should be prepared to make offers in order to not miss limited opportunities, since 73% of the homes went pending in 1 week or less.
While some buyers were able to negotiate sales prices down from list price, the vast majority of buyers, 93%, paid full price or more for their new homes, no doubt the result of competing offers! The median sales price of single family homes was $875,000 (up 3%), and $595,000 (21% higher) for condos, townhomes and duplexes.
There were 9 San Marcos homes for sale at the end of April with an Active Under Contract status, compared to 3 last month. These homes are included in the overall Active statistics below.
The San Marcos housing inventory increased from last month with 54 homes for sale compared to 38 last month, some good news for buyers; list prices range from $136,500 to $5,250,000. This represents an inventory of 25 days for condos, townhomes and duplexes (the same as last month) and only 14 days for single family homes, up from 13 days in March, 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 buyer demand and available inventory.
In April 2021 we saw more homes come on the market, 126, as compared to 106 last month, more good news for buyers. The number of homes going pending remained about the same at 98, versus 99 pendings last month (excluding the homes that closed in April). It was another busy month for both 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 April. I can provide more details regarding current activity, within the zip codes of San Marcos, 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 can then develop 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, 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.