What’s the Value my San Marcos Home?
San Marcos Home Sales for May 2022
The San Marcos real estate market continues to shift each month. These statistics 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 up-to-date information about local market conditions benefits you as a seller or buyer so you can make informed buying and selling decisions about San Marcos homes for sale, especially in our competitive market.
In May 2022 there were 100 homes sold in San Marcos’ 2 zip codes (92069 and 92078), 4 more home sales than last month. Here’s the breakdown of overall activity.
Single Family Homes Sold
64 (up by 4); 8 Average Days on Market; Average Sales Price $1,207,710 (down by 4%); Average sale 109% of original asking price
Condos, Townhomes and Duplexes Sold
36 (no change); 11 Average Days on Market; Average Sales Price $684,624 (down 3%); Average sale 105% of original asking price
Overall sales volume in May increased modestly, with 4 more single family home sales but no change in the number of condo, townhome and duplex sales. The average sales price dropped for single family homes, and for condos, townhomes, and duplexes. Sales prices ranged from $162,500 to $2,585,000.
The average time on the market (DOM) dropped by 1 day for single family homes, but was 5 days longer for condos, townhomes and duplexes. Buyers should be ready to decide quickly about seeing homes they like, and making offers, since 3 out of 5 homes (60%) went pending in 1 week or less.
While some buyers negotiated their sales prices, many (73%) paid over asking price! The median sales price of single family homes was $1,116,500 (down 2%), and $737,500 (no change) for condos, townhomes and duplexes.
There were 6 San Marcos home for sale at the end of May with an Active Under Contract status, compared to 4 last month. These homes are included in the overall Active statistics below.
The San Marcos housing inventory rose fairly significantly in May, with 77 homes for sale (up 26%)…some good news for buyers. List prices range from $150,000 to $3,999,999. This represents a supply of 16 days for condos, townhomes and duplexes (up from 10 days last month), and 27 days for single family homes, about the same as in April (26), based on the rate of sales over the last 3 months.
San Marcos remains a very strong seller’s market based on supply and demand.
In May we saw more new listings, 114 (up 11%), which was positive news. The number of homes going pending dropped modestly to 75 (down 9%), excluding homes that closed. It was still a busy month for selling and buying.
This overview of the San Marcos real estate market is based on information in the MLS. I can provide more details regarding current activity, within the zip codes of San Marcos, or for neighborhoods that interest you, 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 by text or direct call so we can review your personal housing needs, timing, lifestyle, budget, and questions. We can then design a plan to buy your new San Marcos home.
Are you considering selling your San Marcos home? Let’s discuss the current market conditions affecting your sale, review a market and equity analysis for your home, and create a strategy to sell your home quickly for the best price, terms and conditions.
If you are interested in the market value of your home, please reach out to me at (760) 840-1360. There is a lot to talk about!!