What’s my San Marcos Home Worth? Market Report for November 2023

By
Real Estate Agent with eXp Realty of California, Inc. CA DRE #01490977

What’s the Value of my San Marcos Home?

San Marcos Home Sales for November 2023

 

San Elijo Hills town center in San Marcos CAThe San Marcos real estate market continues to evolve. 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).

 

It’s essential for buyers and sellers to have current information about local market conditions in order to make informed buying and/or selling decisions about San Marcos homes for sale.

 

READ MORE:

 San Marcos - A Thriving Inland Residential Community

San Elijo Hills – Award-Winning Master Planned Community in San Marcos

Lake San Marcos – Resort and Residential Community in San Marcos, CA

 

44 homes sold in November 2023 in San Marcos’ 2 zip codes (92069 and 92078), 31% fewer than last month. Here’s the breakdown of activity.

 

Single Family Homes Sold
25 (down 39%); 34 Average Days on Market; Average Sales Price $1,198,718 (up 1%); Average sale was 98% of original asking price.

Condos, Townhomes and Duplexes Sold
19 (down by 4); 19 Average Days on Market; Average Sales Price $763,313 (up 8%); Average sale was 99% of original asking price.

 

Overall sales volume in November decreased substantially from October. There were fewer single family homes sold, as well as fewer condo, townhome and duplex sales. The average sales price rose slightly for single family homes, and was up modestly for condos, townhomes, and duplexes. Sales prices ranged from $175,000 to $3,200,000.

 

Compared to November 2022, there were 36% fewer single family home sales in 2023, while 27% more condos, townhomes and duplexes were sold. The average sales price for single family homes in 2023 was 12% higher than 1 year ago (the median was 5% higher). Similarly, the average price was 22% higher in November 2023 for condos, townhomes and duplexes while the median price was 27% higher.

 

The average time on the market in November was longer for single family homes, as it was for condos, townhomes and duplexes compared last month. 41% of the homes went pending in 7 days or less, fewer than in October.

 

Almost half of the home buyers were able to negotiate their sales prices down. Thus over half, 55%, of the buyers paid asking price or higher. The median sales price of the single family homes was $1,025,000 (down 11% from last month), and $770,000 (up 4%) for condos, townhomes and duplexes.

 

There were 6 San Marcos homes for sale at the end of November with an Active Under Contract status, compared to 3 last month. These homes are included in the overall Active statistics below.                                                                                                                                                                                      

 San Marcos homes in San Elijo Hills

The San Marcos housing inventory rose slightly in November, with 66 homes for sale at the end of the month (versus 63 last month). List prices range from $299,000 to $2,150,000. This is a supply of only 1.2 months for condos, townhomes and duplexes (up from 28 days last month), and 1.3 months for single family homes (up from 1.1 months last month), based on the rate of sales over the last 3 months.

 

San Marcos remains a very strong seller’s market based on current supply and demand.

 

59 new listings came on the market in November, an increase from last month (52). The number of homes going pending decreased, from 37 to 33, excluding homes that closed in November.

  

This overview of the San Marcos real estate market is based on MLS data. I can share more details for particular neighborhoods of interest (e.g., San Elijo Hills, Twin Oaks, Lake San Marcos, Santa Fe Hills).

 

Is it time o talk about your real estate plans given today’s real estate market? Please contact me directly or by text at (760) 840-1360 to discuss your personal housing needs, timing, lifestyle, budget, and questions. Then we’ll create a strategy to buy your new San Marcos home if that’s your plan.

 

Are you thinking about selling your San Marcos home? Let’s talk about the current market conditions that may affect your sale and review a market and equity analysis. Then we can develop a plan to sell your home for the best price, terms and conditions.

 

If you would like to know more about your home’s current market value let’s talk - please reach out to me at (760) 840-1360.

 

SEARCH FOR SAN MARCOS HOMES FOR SALE

 

READ MORE:

What’s My San Marcos Home Worth? San Marcos Real Estate Market Report October 2023

Posted by

Jeff Dowler, CRS
Certified Residential Specialist / Realtor®


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Comments (9)

Paul S. Henderson, REALTOR®, CRS
Fathom Realty Washington LLC - Tacoma, WA
South Puget Sound Washington Agent/Broker!

Another fine introduction to the San Marcos area. Your market reportss are a lot more than just numbers you paint a wonderful picture of the area. Thank you for sharing Jeff 🙂

Dec 08, 2023 03:44 PM
Endre Barath, Jr.
Berkshire Hathaway HomeServices California Properties - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Jeff Dowler, CRS  wishing you listings from this post, and when you do please brag about it:)Endre

Dec 08, 2023 10:41 PM
Brian England
Ambrose Realty Management LLC - Gilbert, AZ
MBA, GRI, REALTOR® Real Estate in East Valley AZ

The days on market seem low, so things must be moving in San Marcos.  I hope that you will have a fun weekend!

Dec 09, 2023 05:17 AM
Jeff Dowler, CRS
eXp Realty of California, Inc. - Carlsbad, CA
The Southern California Relocation Dude

Thank you for the wonderful compliment Paul S. Henderson, REALTOR®, CRS 

Enjoy the rest of your weekend!

Jeff

Dec 09, 2023 08:40 AM
Jeff Dowler, CRS
eXp Realty of California, Inc. - Carlsbad, CA
The Southern California Relocation Dude

Thank you Endre Barath, Jr.  We'll see what happens.

Jeff

Dec 09, 2023 09:39 AM
Jeff Dowler, CRS
eXp Realty of California, Inc. - Carlsbad, CA
The Southern California Relocation Dude

Hi Brian England 

With the time of year, inventory and interest rates the decline in sales is not a surprise. The San Marcos market is still pretty competitive and plenty of buyers made quick decisions about their home purchases.

Jeff

Dec 09, 2023 09:42 AM
Dorie Dillard Austin TX
Coldwell Banker Realty ~ 512.750.6899 - Austin, TX
NW Austin ~ Canyon Creek and Spicewood/Balcones

Good morning Jeff,

You really do paint such a wonderful picture of your area. Great market report, I'm not surprised with the lowers sales when you factor in the time of year, low inventory and interest rates.

Dec 09, 2023 11:24 AM
Jeff Dowler, CRS
eXp Realty of California, Inc. - Carlsbad, CA
The Southern California Relocation Dude

Thank you for the kind words, Dorie Dillard Austin TX 

I wasn't surprised about the decline in sales either, and for those reasons.

Jeff

Dec 09, 2023 12:14 PM
Myrl Jeffcoat
Sacramento, CA
Greater Sacramento Realtor - Retired

San Marcos home buyers and sellers are sure to value your real estate market report, Jeff.

Dec 10, 2023 05:03 PM