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San Marcos Home Sales Report for March 2019
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 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 March 2019 there were 84 homes sold in San Marcos’ 2 zip codes (92069 and 92078), a 33% increase from last month, the second increase since the beginning of the year. Here’s the breakdown of overall activity.
Detached Homes Sold
64 (up 33%), 38 Days on Market, Average Sales Price $771,878 (up 8%), Average sale 97% of original asking price
Attached Homes (condos, town homes) Sold
27 (up 8%), 30 Days on Market, Average Sales Price $470,962 (up 18%), Average sale 97% of original asking price
Overall sales volume in March increased substantially compared to last month, especially for detached single family home sales. Average sales prices rose for both detached and attached home sales. Average time on market shifted down modestly for attached properties but remained the same for detached single family homes.
13% of the transactions were for cash, compared to 27% last month. While buyers negotiated sales prices on average by 3% (off original price), 29% of San Marcos home buyers paid full price or more! The median sales price of detached homes was $715,000 (up 8%) and $480,000 (up 17%) for attached homes/condos/town homes.
There were 6 San Marcos homes for sale at the end of March with a Contingent status, compared to 3 last month. All 6 are first right of refusals based on contingent offers accepted by sellers. These homes are included in the overall Active statistics.
The San Marcos real estate market inventory decreased by 3% from February to 164 listings, in contrast to some other communities that saw increases. This represents an inventory of 2.1 months for attached homes (the same as last month) and 1.6 months for detached single family homes (down 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, especially for detached homes, given buyer demand and current supply.
In March 2019 we saw 131 homes come on the market, substantially more than the number of new listings in February (up 22%). Similarly the number of homes going pending in March also increased, by 15%, to102 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 March. 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 budget, and any questions you have so we can make a plan to get you into a new home in San Marcos when the timing is right for you.
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, our local housing market conditions, or assist you, friends or family in a purchase or sale, please contact my mobile office or text me at (760) 840-1360, or email me at JeffDowlerSolutions@gmail.com
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