What’s the Value of my San Marcos Home?
San Marcos Market Report for February 2023
The San Marcos real estate market continues to shift some each month. This report does not include private sales, mobile homes or multi-family housing (the information is taken from the MLS and believed to be accurate at the time this report was published, but not guaranteed).
Having current information about local market conditions benefits you so you can make informed buying and/or selling decisions about San Marcos homes for sale.
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45 homes sold in February 2025 in San Marcos’ 2 zip codes (92069 and 92078), 33% more than last month. Here’s the breakdown of overall activity.
Single Family Homes Sold
27 (no change); 48 Average Days on Market; Average Sales Price $1,095,996 (up 2%); Average sale was 97% of original asking price.
Condos, Townhomes and Duplexes Sold
18 (up 300%); 40 Average Days on Market; Average Sales Price $677,994 (up 10%); Average sale was 92% of original asking price.
Overall sales volume in February improved significantly from January. The same number of single family homes was sold, but there were 3 times as many condo, townhome and duplex sales. The average sales price rose slightly for single family homes, and also increased for condos, townhomes, and duplexes. Sales prices ranged from $275,000 to $1,741,000.
Looking back to February 2022, there were 36% fewer single family home sales in 2023, and 50% fewer sales of condos, townhomes and duplexes. The average sales price for single family homes in 2023 was 1% lower than 1 year ago (but the median was 7% higher). The average was 12% higher in February 2023 for condos, townhomes and duplexes while the median was 10% higher.
The average time on the market (DOM) in February was substantially longer for single family homes, but shorter for condos, townhomes and duplexes than last month. 16% of the homes went pending in 7 days or less, a few more than in January.
The majority of home buyers were able to negotiate their sales prices in February. However, 33% of the buyers paid asking price or higher, about the same percentage as last month. The median sales price of the single family homes was $1,065,000 (down 1% from last month), and $713,500 (up 12%) for condos, townhomes and duplexes.
There were 7 San Marcos homes for sale at the end of February with an Active Under Contract status, compared to 2 last month. These homes are included in the overall Active statistics below.
The San Marcos housing inventory remained the same in February, with 60 homes for sale at the end of the month. List prices range from $275,000 to $3,295,000. This is a supply of 1.7 months for condos, townhomes and duplexes (down from 2.4 months last month), and 1.4 months for single family homes (up from 1.2 months last month), based on the rate of sales over the last 3 months.
San Marcos continues to be a very strong seller’s market based on current supply and demand.
The number of listings coming on the market in February, 57, was about the same as last month (56). The number of homes going pending decreased to 52 (versus 58 in January), excluding homes that closed in February.
This overview of the San Marcos real estate market is based on MLS data. I can share more details regarding current activity, and for particular neighborhoods (e.g., San Elijo Hills, Twin Oaks, Lake San Marcos, Santa Fe Hills).
Given the changing market should we talk about your real estate plans? Please contact me at (760) 840-1360 directly or via text to discuss your personal housing needs, timing, lifestyle, budget, and questions. Then we’ll create a strategy to buy your new San Marcos home.
Are you thinking about selling your San Marcos home? Let’s discuss the current market conditions that will affect your sale, and review a market and equity analysis. Then we can develop a plan to sell your home quickly for the best price, terms and conditions.
If you are simply interested in your home’s current estimated market value, please reach out to me at (760) 840-1360.
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