What’s the Value of my San Marcos Home?
San Marcos Home Sales for October 2018
The San Marcos real estate market continues to shift. 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 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 October 2018 there were 77 homes sold in San Marcos’ 2 zip codes (92069 and 92078), the same as last month. Here’s the breakdown of overall activity.
TOTAL HOMES SOLD
77 (no change), 34 Days on Market, Ave. Sales Price $669,206 (up 2%), Ave. sale 96% of asking price
Detached Homes Sold
47 (down 13%), 31 Days on Market, Ave. Sales Price $805,551 (up 5%), Ave. sale 96% of asking price
Attached Homes (condos, town homes) Sold
30 (up 30%), 39 Days on Market, Ave. Sales Price $455,599 (up 16%), Ave. sale 97% of asking price
Overall sales volume in October remained the same as last month but with fewer detached home sales but more attached. Average time on market shifted up for attached homes but did not change for detached.
22% of the transactions were for cash, compared to 16% last month. Buyers negotiated their asking prices on average by 3 - 4%, but 25% of the homes sold at or above asking price! The median sales price of detached homes was $665,000 (down 9%) and $469,500 (up 24%) for attached homes/condos/town homes.
There were 11 San Marcos homes for sale at the end of October with a Contingent status (4% of the total) the same as last month. Typically these are homes with offers awaiting approval from short sale and REO lenders, but some are first right of refusals based on contingent offer. These homes are included in the overall Active statistics.
The San Marcos real estate market inventory decreased by 9% from September to 239. This represents an inventory of 2.6 months for attached homes (down from 2.7 months last month) and 2.8 months for detached (up from 2.5 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 given the buyer demand and current inventory.
In October 2018 we saw 124 homes come on the market, a decrease in new listings, by 17%, from last month. In contrast the number of homes going pending in October increased, by 5%, to 77 pendings (excluding homes that sold last month).
This overview of the San Marcos real estate market is based on information provided by the MLS for homes that went under contract in the last month of so and closed in October. I can provide more details regarding current activity, within the specific zip codes of San Marcos (92078 and 92069), or on certain neighborhoods of interest 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 and any questions you have so we can make a plan 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, the expected value of your property, and 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, our local housing market, or otherwise assist you, friends or family in a home search or home sale, please contact my mobile office or text me at (760) 840-1360, or feel free to email me at JeffDowlerSolutions@gmail.com
Serving Carlsbad (including Aviara, La Costa & Carlsbad Village), Encinitas (including Leucadia & Olivenhain), Cardiff, Solana Beach, Del Mar, La Jolla, Rancho Santa Fe, San Marcos (including San Elijo Hills), Oceanside, Escondido, and San Diego
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