What’s the Value of my San Marcos Home?
San Marcos Home Sales for July 2024
The San Marcos real estate market continues to evolve. This report does not include private sales, mobile homes or multi-family housing (the information is from the MLS and believed accurate at the time this report was published but is not guaranteed).
It’s essential that buyers and sellers have up-to-date information about local market conditions in order to make informed buying and/or selling decisions about San Marcos homes for sale.
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70 homes sold in July 2024 in San Marcos’ 2 zip codes (92069 and 92078), the same as last month. Here’s the breakdown of activity.
Single Family Homes Sold
49 (up by 1); 21 Average Days on Market; The Average Sales Price was $1,260,296 (down 6%); Average sale price was 98% of original asking price.
Condos, Townhomes and Duplexes Sold
21 (down by 1); 16 Average Days on Market; The Average Sales Price was $755,233 (up 14%); Average sale price was 99% of original asking price.
The overall sales volume in July did not shift from last month. 1 more single family home sold, while condo, townhome and duplex sales dropped by only 1. The average sales price increased for single family homes, as it also did for condos, townhomes, and duplexes. Sales prices ranged from $450,000 to $2,712,000.
Compared to July 2023, there were 23% more single family home sales in 2024, as well as 62% more condo, townhome and duplex sales in 2024. The average sales price for single family homes in 2024 was 1% higher than 1 year ago (the median was 4% higher). Similarly, the average sales price was 25% higher in July 2024 for condos, townhomes and duplexes while the median price was 41% lower.
The average time on the market in July was 4 days longer for single family homes, and was 3 days longer for condos, townhomes and duplexes compared to last month. 37% of the homes went pending in less than 1 week, fewer than last month.
While the majority of home buyers negotiated their sales prices, 47% of the buyers paid asking price or higher. The median sales price of the single family homes was $1,200,000 (down 4% from June), and was 7% higher for condos, townhomes and duplexes at $751,000.
There were 7 San Marcos home for sale at the end of July with an Active Under Contract status, versus 4 last month. These homes are included in the overall Active statistics below.
The San Marcos housing inventory remained the same as last month with 105 homes for sale at the end of the month. List prices range from $170,000 to $4,159,000. There is a supply of 1.7 months for condos, townhomes and duplexes (down from 1.8 months last month), and 1.4 months for single family homes (no change from 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.
79 new listings came on the market in July, a slight increase from last month’s 77. The number of homes going pending decreased slightly, from 56 to 52, excluding homes that closed escrow in July.
This summary of the San Marcos housing market is based on information found in the MLS. I’m happy to share more details for neighborhoods that interest you (e.g., San Elijo Hills, Lake San Marcos, Santa Fe Hills).
Please reach out to me directly or by text at (760) 840-1360 to discuss your personal housing needs, timing, lifestyle, budget, and questions. Then we can work together to create a plan to buy your new San Marcos home if that’s your desire.
Are you considering selling your San Marcos home? Let’s discuss the current market conditions that may impact your home sale and review a customized market and equity analysis. Then we can create a strategy 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 have a conversation. Please reach out to me directly or by text at (760) 840-1360.
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