What’s the Value of my San Marcos Home?
San Marcos Market Report for July 2021
The 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 compiled, 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.
In July 2021 there were 123 homes sold in San Marcos’ 2 zip codes (92069 and 92078), just 4 fewer home sales than last month. Here’s the breakdown of overall activity.
Single Family Homes Sold
90 (down by 3); 13 Average Days on Market; Average Sales Price $1,015,333 (down 4%); Average sale 105% of original asking price
Condos, Townhomes and Duplexes Sold
29 (down by 1); 9 Average Days on Market; Average Sales Price $587,927 (up 1%); Average sale 104% of original asking price
Overall sales volume in July dropped modestly from last month, with fewer single family home sales, and fewer condo, townhome and duplex sales. The average sales price dropped for single family homes, but went up slightly for condos, townhomes, and duplexes. Sales prices ranged from $285,000 to $2,700,000.
The average days on the market (DOM) rose for single family homes, and condos, townhomes and duplexes, but remains below 2 weeks. Home buyers should be prepared to decide quickly about touring listings that appeal to them, and to make offers quickly in order to not miss the limited opportunities, since half the homes, 52%, went pending in 7 days or less.
While some buyers were able to negotiate sales prices down from list price, the majority of buyers (82%) paid full price or more for their new homes! The median sales price of single family homes was $922,500 (down 1%), and $610,000 (no change) for condos, townhomes and duplexes.
There were 12 San Marcos homes for sale at the end of July with an Active Under Contract status, compared to 13 last month. These homes are included in the overall Active statistics.
The San Marcos housing inventory was higher in July, with 92 homes for sale (versus 74 homes last month); list prices range from $124,500 to $2,450,000. This represents an inventory of 25 days for condos, townhomes and duplexes (up from 18 days last month) and 22 days for single family homes, up from 19 days in June, 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.
In July 2021 we saw more new listings, 145, as compared to 123 last month. The number of homes going pending dropped, with 6 fewer pendings (96) than last month (excluding homes that closed in July). July was a busy month for 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 July. I can provide more details regarding current activity, within the zip codes of San Marcos (92078 and 92069), and in specific neighborhoods that may be of interest 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.
Are you 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.