What’s the Value of my San Marcos Home?
San Marcos Market Report for December 2019
The San Marcos real estate market continues to change. These data do not include private sales or manufactured housing (the data are derived from the MLS and are believed to be accurate at the time this report was published, but are not guaranteed).
Having details about up-to-date local market conditions benefits you as a buyer or seller so you can make informed decisions about buying and selling San Marcos homes for sale.
In December 2019 there were 99 homes sold in San Marcos’ 2 zip codes (92069 and 92078), a 9% increase from last month, a trend we saw in other nearby communities. Here’s the breakdown of overall activity.
Detached Homes Sold
68 (up 6%), 43 Days on Market, Average Sales Price $720,687 (up 2%), Average sale 97% of original asking price
Attached Homes (condos, town homes) Sold
31 (up 15%), 38 Days on Market, Average Sales Price $467,165 (up 13%), Average sale 98% of original asking price
Overall sales volume in December was higher compared to last month, and for both detached and attached home sales. The average sales price rose slightly for detached single family homes but more significantly for attached homes. The average time on the market was longer for both types of housing.
13% of the transactions were for cash, about the same as last month. While buyers negotiated sales prices on average by 2 - 3% off original price, 30% of San Marcos home buyers paid full price or more for their new homes, a good indicator of competition and multiple offers! The median sales price of detached homes was $726,500 (up 8%) and $480,000 (up 17%) for attached homes/condos/townhomes.
There were 2 San Marcos homes for sale at the end of December with a Contingent status, versus 6 last month. Both are first right of refusals. These homes are included in the overall Active statistics.
The San Marcos real estate market inventory decreased, again, by 32% from November to 99 listings, the 5th consecutive decline in inventory. This represents an inventory of less than 1 month for attached homes (down from 1.4 months last month) and only 1 month for detached single family homes (down from 1.5 months last month) based on the current rate of sales over the last 3 months.
The San Marcos real estate market remains a very strong seller’s market, based on the buyer demand and current inventory, and became even more competitive in December.
In December 2019 we saw 66 homes come on the market, 12% fewer than last month but not a surprise given the holidays. The number of homes going pending also decreased, by 22%, to 62 pendings (excluding homes that sold in December).
This overview of the San Marcos real estate market is based on data from the MLS for homes that went under contract in the last month or so and closed in December. I can provide more details regarding current activity, within the specific zip codes of San Marcos (92078 and 92069), or in neighborhoods that may interest you including San Elijo Hills, Twin Oaks, Lake San Marcos, or Santa Fe Hills.
Please call me at (760) 840-1360 so we can discuss your specific housing needs, timing, and budget, and any questions you have so we can create a strategy to get you into a new home in San Marcos soon.
And if you are considering selling your home in San Marcos, let’s get together so we can review the current market conditions, do a market and equity analysis, then discuss a strategy to make your sale happen quickly and for top dollar.
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If I can provide more information about homes for sale in Carlsbad and in surrounding areas, local housing market conditions, or assist you, friends or family in a purchase or sale, please call or text me at (760) 840-1360, or email me at JeffDowlerSolutions@gmail.com
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