What’s the Value of my San Marcos Home?
San Marcos Home Sales for August 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 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.
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In August 2021 there were 111 homes sold in San Marcos’ 2 zip codes (92069 and 92078), 10% fewer home sales than last month. Here’s the breakdown of overall activity.
Single Family Homes Sold
71 (down 21%); 12 Average Days on Market; Average Sales Price $1,071,492 (up 6%); Average sale 105% of original asking price
Condos, Townhomes and Duplexes Sold
40 (up by 38%); 16 Average Days on Market; Average Sales Price $582,450 (down 1%); Average sale 102% of original asking price
Overall sales volume in August dropped modestly from last month, with significantly few single family home sales, but substantially more condo, townhome and duplex sales. The average sales price rose for single family homes, but went down slightly for condos, townhomes, and duplexes.
Sales prices ranged from $110,000 to $2,450,000.
The average days on the market (DOM) was about the same for single family homes, but was longer for condos, townhomes and duplexes (a little over 2 weeks). Home buyers should decide quickly about viewing listings that meet their needs, and make offers quickly in order to not miss out, since over half the homes, 59%, 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%, the same as last month) paid full price or more for their new homes! The median sales price of single family homes was $935,000 (up 1%), and $605,000 (down 1%) for condos, townhomes and duplexes.
There were 6 San Marcos homes for sale at the end of August with an Active Under Contract status, compared to 12 last month. These homes are included in the overall Active statistics below.
The San Marcos housing inventory dropped in August, with 80 homes for sale (versus 92 last month, down 13%); list prices range from $153,000 to $4,750,000. This represents an inventory of 19 days for condos, townhomes and duplexes (down from 25 days last month) and 20 days for single family homes, down from 22 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 August 2021 we saw fewer new listings, 100, as compared to 145 last month, perhaps not a surprise given the time of year. However, the number of homes going pending rose, with 9 more pendings (105) than last month (excluding homes that closed in August). August was still 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 August. 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 real estate! Please reach out to 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 the best price, terms and conditions.
SEARCH FOR SAN MARCOS HOMES FOR SALE
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