What’s the Value of my San Marcos Home?
San Marcos Market Report for November 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.
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53 homes sold in November in San Marcos’ 2 zip codes (92069 and 92078), 5 fewer than last month. Here’s the breakdown of activity:
Single Family Homes Sold
33 (down by 7); 43 Average Days on Market; The Average Sales Price was $1,236,328 (up 2%); Average sale price was 94% of original asking price.
Condos, Townhomes and Duplexes Sold
20 (up by 2); 30 Average Days on Market; The Average Sales Price was $745,900 (down 3%); Average sale price was 98% of original asking price.
The overall sales volume in November dropped modestly from last month. There were fewer single family homes sold, while condo, townhome and duplex sales rose by 2. The average sales price increased slightly for single family homes, while average price was lower for condos, townhomes, and duplexes. November sales prices ranged from $255,000 to $2,670,000.
There were 7 more single family home sales in 2024 than 1 year ago, and 1 more condo, townhome and duplex sale in 2024. The average sales price for single family homes in 2024 was 4% higher than 1 year ago (while the median was 14% higher). In contrast, the average sales price was 2% lower in November 2024 for condos, townhomes and duplexes while the median price did not shift.
The average time on the market in November was longer for single family homes, as it also was for condos, townhomes and duplexes compared to last month. 23% of the homes went pending in 6 days or less, fewer than last month.
The majority of the home buyers negotiated their sales prices, while 28% paid asking price or more. The median sales price of the single family homes was $1,180,000 (the same as in October), and was 2% lower for condos, townhomes and duplexes at $770,000.
There were 5 San Marcos home for sale at the end of November with an Active Under Contract status, the same as last month. These homes are included in the overall Active statistics below.
The San Marcos housing inventory declined by 9% with 116 homes for sale at the end of the month. List prices range from $145,000 to $4,159,000. There is a supply of 2.3 months for condos, townhomes and duplexes (up from 2 months last month), and 1.9 months for single family homes (the same as last month), based on the rate of sales over the last 3 months.
San Marcos remains a very strong seller’s market based on supply and demand.
48 new listings came on the market in November, a decrease from last month’s 76. Similarly, the number of homes going pending decreased, from 44 to 38, excluding homes that closed escrow in November.
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.
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