What’s the Value of my San Marcos Home?
San Marcos Market Report for October 2021
The San Marcos real estate market continues to shift on a monthly basis. These data do not include private sales, mobile homes or multi-family housing (the data are taken 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 seller or buyer so you can make educated decisions about buying and selling San Marcos homes for sale especially in this competitive market.
In October 2021 there were 129 homes sold in San Marcos’ 2 zip codes (92069 and 92078), 26% fewer home sales than last month. Here’s the breakdown of overall activity:
Single Family Homes Sold
73 (down 19%); 15 Average Days on Market; Average Sales Price $989,103 (up 2%); Average sale 104% of original asking price
Condos, Townhomes and Duplexes Sold
23 (down by 41%); 20 Average Days on Market; Average Sales Price $600,978 (down by 3%); Average sale 102% of original asking price
Overall sales volume in October declined significantly from last month, in particular for condo, townhome and duplex sales. The average sales price rose slightly for single family homes, but dropped modestly for condos, townhomes, and duplexes. Sales prices ranged from $235,000 to $1,650,000.
The average time on the market (DOM) was 1 day shorter for single family homes, but almost 1 week longer for condos, townhomes and duplexes. Home buyers still should expect to make quick decisions about viewing listings that appear to meet their needs, and to make offers quickly. Almost half of the homes, 48%, went pending in 1 week or less.
While a number of buyers negotiated sales prices down from list price, the majority of buyers (79%) paid full price or more! The median sales price of single family homes was $926,500 (up 6%), and $639,000 (up 1%) for condos, townhomes and duplexes.
There were 4 San Marcos homes for sale at the end of October 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 declined again in October, with 45 homes for sale (vs. 62 last month); list prices range from $132,000 to $1,999,000. This represents an inventory of only 12 days for condos, townhomes and duplexes (down from 15 days last month) and only 12 days for single family homes, down from 13 days in September, based on the rate of sales over the last 3 months.
It is still a very strong seller’s market in San Marcos.
In October 2021 we again saw fewer new listings, 78, as compared to 89 last month, another decline. The number of homes going pending also dropped modestly from 82 last month to 78 (excluding homes that closed in October). Despite these declines October was still a 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 October. I can provide more details regarding current activity, within the zip codes of San Marcos (92078 and 92069), and in neighborhoods that may be of interest including Twin Oaks, San Elijo Hills, Santa Fe Hills, or Lake San Marcos.
Let’s talk real estate! Please contact me at (760) 840-1360 to discuss your particular housing needs, timing, lifestyle, and budget, and questions that you have. We will then create a plan to help you buy a new home in San Marcos.
Are you considering 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 help your sale happen quickly and for the best price, terms and conditions.