What’s the Value of my San Marcos Home?
San Marcos Home Sales for October 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 in order to make educated 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
58 homes sold in October in San Marcos’ 2 zip codes (92069 and 92078), 4 more than last month. Here’s the breakdown of activity.
Single Family Homes Sold
40 (up by 6); 21 Average Days on Market; The Average Sales Price was $1,207,021 (down 5%); Average sale price was 99% of original asking price.
Condos, Townhomes and Duplexes Sold
18 (down by 2); 26 Average Days on Market; The Average Sales Price was $772,277 (up 8%); Average sale price was 99% of original asking price.
The overall sales volume in October rose modestly from last month. There were more single family homes sold, while condo, townhome and duplex sales declined by 2. The average sales price decreased for single family homes, while average price was higher for condos, townhomes, and duplexes. October sales prices ranged from $360,000 to $1,887,000.
There were 2 fewer single family home sales in 2024 than 1 year ago, and 5 fewer 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 2% higher). Similarly, the average sales price was 10% higher in October 2024 for condos, townhomes and duplexes while the median price was 7% higher.
The average time on the market in October was 7 days shorter for single family homes, and 2 days longer for condos, townhomes and duplexes compared to last month. 36% of the homes went pending in 1 week or less, more than last month.
50% of the home buyers negotiated their sales prices, which means that 50% paid asking price or more. The median sales price of the single family homes was $1,180,000 (down 9% from September), but was 4% higher for condos, townhomes and duplexes at $787,500.
There were 5 San Marcos home for sale at the end of October with an Active Under Contract status, versus 9 last month. These homes are included in the overall Active statistics below.
The San Marcos housing inventory remained stable with 127 homes for sale at the end of the month. List prices range from $155,000 to $4,159,000. There is a supply of 2 months for condos, townhomes and duplexes (the same as last month), and 1.9 months for single family homes (up from 1.8 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.
76 new listings came on the market in October, an increase from last month’s 68. On the other hand the number of homes going pending decreased, from 49 to 44, excluding homes that closed escrow in October.
This review of the San Marcos housing market is based on information from 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 thinking about selling your San Marcos home? Let’s talk about the current market conditions that may impact your home sale and review a customized market and equity analysis. Then we can develop 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
READ MORE:
What’s My San Marcos Home Worth? San Marcos Real Estate Market Report September 2024
Comments(6)