What’s the Value of my San Marcos Home?
San Marcos Home Sales for August 2024
The San Marcos real estate market continues to change. 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 important that buyers and sellers have up-to-date information about local market conditions to help make educated buying and/or selling decisions about San Marcos homes for sale.
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78 homes sold in August in San Marcos’ 2 zip codes (92069 and 92078), 8 more than last month. Here’s the breakdown of activity.
Single Family Homes Sold
48 (down by 1); 15 Average Days on Market; The Average Sales Price was $1,130,359 (down 10%); Average sale price was 100% of original asking price.
Condos, Townhomes and Duplexes Sold
30 (up 43%); 22 Average Days on Market; The Average Sales Price was $665,650 (down 12%); Average sale price was 99% of original asking price.
The overall sales volume in August rose from last month. 1 less single family home sold, while condo, townhome and duplex sales went up substantially. The average sales price decreased for single family homes, as it also did for condos, townhomes, and duplexes. August sales prices ranged from $408,000 to $2,900,000.
There was 1 more single family home sale in 2024 than 1 year ago, as well as 4 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 (while the median was 5% lower). On the other hand, the average sales price was 4% lower in August 2024 for condos, townhomes and duplexes while the median price was 8% lower.
The average time on the market in August was shorter for single family homes, but longer for condos, townhomes and duplexes compared to last month. 45% of the homes went pending in 7 days or less, more than last month.
While many home buyers negotiated their sales prices, 56% of the buyers paid asking price or more. The median sales price of the single family homes was $1,017,000 (down 15% from August), and was 15% lower for condos, townhomes and duplexes at $665,000.
There were 2 San Marcos home for sale at the end of August with an Active Under Contract status, versus 7 last month. These homes are included in the overall Active statistics below.
The San Marcos housing inventory increased from last month (105) with 121 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 (the same as last month), and 1.6 months for single family homes (up from 1.4 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.
86 new listings came on the market in August, an increase from last month’s 79. The number of homes going pending decreased, from 52 to 46, excluding homes that closed escrow in August.
This summary of the San Marcos housing market is based on information in the MLS. I’m happy to share more details for neighborhoods of interest (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.
SEARCH FOR SAN MARCOS HOMES FOR SALE
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