What’s my San Marcos Home Worth? San Marcos Market Report for May 2021

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 May 2021

 

San Elijo Hills town center in San Marcos CAThe San Marcos real estate market continues to shift each month. These data do not include private sales, mobile homes or multi-family 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 current 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 especially in this busy market.

 

READ MORE:

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

 

In May 2021 there were 109 homes sold in San Marcos’ 2 zip codes (92069 and 92078), 12% fewer home sales than last month, following several increases. Here’s the breakdown of overall activity.



Single Family Homes Sold
75 (down 16%); 9 Average Days on Market; Average Sales Price $1,011,395 (no change); Average sale 107% of original asking price

Condos, Townhomes and Duplexes Sold

34 (down by 1); 12 Average Days on Market; Average Sales Price $544,492 (down 4%); Average sale 106% of original asking price

 

Overall sales volume in May dropped from last month, with fewer single family home sales, and 1 fewer condo, townhome and duplex sale. The average sales price did not shift for single family homes, but declined modestly for condos, townhomes, and duplexes. Sales prices ranged from $125,000 to $2,380,000.

 

The average days on the market (DOM) was the same for single family homes at 9 days, but was slightly longer for condos, townhomes and duplexes compared to last month. Home buyers should bear in mind they must decide quickly about touring listings that appeal to them, and should be prepared to make offers quickly in order to not miss limited opportunities, since 76% of the homes went pending in 7 days or less.

 

San Marcos home at Old Creek Ranch

 

While some buyers were able to negotiate sales prices down from list price, the majority of buyers, 88%, paid full price or more for their new homes, the result of multiple competing offers! The median sales price of single family homes was $892,000 (up 2%), and $577,750 (3% lower) for condos, townhomes and duplexes.

 

There were 6 San Marcos homes for sale at the end of May with an Active Under Contract status, compared to 9 last month. These homes are included in the overall Active statistics below.                                                                                                                                                                                      

The San Marcos housing inventory increased again, up 41% from last month with 76 homes for sale, more good news for buyers; list prices range from $136,500 to $5,250,000. This represents an inventory of 21 days for condos, townhomes and duplexes (down from 25 days last month) and 21 days for single family homes, up from 14 days in April, 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 May 2021 we saw about the same number of homes come on the market, 127, as compared to 126 last month. The number of homes going pending rose slightly, with 2 more pendings (100) than last month (excluding the homes that closed in May). It was a busy month for both sellers and buyers.

 

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 May. 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. With this information we can 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, let’s find a time to have a conversation and review current market conditions affecting your sale, discuss a market and equity analysis of your home, and create a strategy that will make your sale happen quickly and for top dollar.

 

SEARCH FOR SAN MARCOS HOMES FOR SALE

 

READ MORE:

What’s My San Marcos Home Worth? San Marcos Real Estate Market Report April 2021

Comments (8)

Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

Good morning Jeff. Buyers need to have the shoes laced tight and be ready to race. With 88% of sellers getting full ask or above, the market is hot, hot, hot! Enjoy your day.

Jun 09, 2021 05:53 AM
Grant Schneider
Performance Development Strategies - Armonk, NY
Your Coach Helping You Create Successful Outcomes

Good morning Wayne - as always everything a buyer and seller needs to know now.

Jun 09, 2021 09:24 AM
Jeff Dowler, CRS
eXp Realty of California, Inc. - Carlsbad, CA
The Southern California Relocation Dude

That's so true Wayne Martin San Marcos has been very competitive for some time and homes move quickly.

Jeff

Jun 09, 2021 11:47 AM
Jeff Dowler, CRS
eXp Realty of California, Inc. - Carlsbad, CA
The Southern California Relocation Dude

Thanks for the compliment Grant Schneider Hope all is well!

Jeff

Jun 09, 2021 12:27 PM
Myrl Jeffcoat
GreatWest Realty - Sacramento, CA
Greater Sacramento Real Estate Agent

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

Jun 10, 2021 07:47 AM
Jeff Dowler, CRS
eXp Realty of California, Inc. - Carlsbad, CA
The Southern California Relocation Dude

Hi Myrl Jeffcoat 

Thank you! It's a very competitive market and buyers need to understand so they can make informed decisions.

Jeff

Jun 10, 2021 09:17 AM
Sheri Sperry - MCNE®
Coldwell Banker Realty - Sedona, AZ
(928) 274-7355 ~ YOUR Solutions REALTOR®

Hi Jeff Dowler, CRS - It is certainly good news for buyers to have 76 more homes on the San Marcos market.  But they still need someone like you that knows the way around this volatile market.  

Jun 10, 2021 09:59 AM
Jeff Dowler, CRS
eXp Realty of California, Inc. - Carlsbad, CA
The Southern California Relocation Dude

Hi Sheri Sperry - MCNE® 

The new listings help but it's not enough because of the continued demand.

Thanks for the kind words!

Jeff

Jun 10, 2021 09:33 PM