San Marcos Real Estate Market Report for June 2011
The San Marcos real estate market continues to evolve, especially with the large number of distress sales. These data do not include any private sales nor manufactured housing; the numbers are derived from the MLS and are believed to be accurate but are not guaranteed.
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Media reports tend to speak in general terms, rather than local, so their information will not likely represent the reality of our local San Marcos real estate market. Having data from a knowledgeable agent about local market conditions benefits you as the buyer or seller when making decisions about buying and selling.
In June 2011 there were 121 homes sold in San Marcos' 2 zip codes (92069 and 92078), 14% more than last month. Here's the breakdown of overall activity.
|
|
TOTAL |
DETACHED |
ATTACHED |
|
# Sold
|
121 (up 13%) |
88 (up 24%) |
33 (down 6%) |
|
Ave. $
|
$390,758 (up 16%) |
$457,752 (up 15%) |
$212,106 (down 3%) |
|
DOM
|
77 |
68 |
103 |
|
List $/Sale $
|
97% |
97% |
98% |
Sales volume rose overall, with a fairly significant bump up in sales of detached homes but a decline for attached home sales. Average sales prices showed a similar pattern.
There were 156 San Marcos homes for sale at the end of June with a Contingent status, i.e., homes with offers awaiting approval from the short sale and REO lenders. These homes are included in the overall Active stats since they are still considered active until the approvals are obtained.
At the end of June 2011 the San Marcos real estate market had 485 homes for sale (32% are contingent), an increase of 8% in inventory from May. This represents an inventory of 4.7 months for attached homes (up from 4.5 months) and 5.5 months for detached (up from 5.2 months in May) based on the current rate of sales over the last 6 months. The San Marcos real estate market remains competitive for buyers!
READ MORE: How Important is Inventory when Buying or Selling? Very!!
In June 2011 we saw 174 homes come on the market, 23% more than last month, another increase in overall inventory. The number of homes going pending in June (86) saw a decline, by 16%, from May pendings.
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 couple of months and closed in June. More details can be provided if needed with regard to current activity as well as within the specific zip codes of San Marcos (92078 and 92069).
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READ MORE:
San Marcos Homes for Sale | San Marcos Real Estate Market Report for May 2011
San Marcos Homes for Sale | San Marcos Real Estate Market Report for April 2011
San Marcos Homes for Sale | San Marcos Real Estate Market Report for March 2011
San Marcos Homes for Sale | San Marcos Real Estate Market Report for February 2011
San Marcos Homes for Sale | San Marcos Real Estate Market Report for January 2011
San Marcos Homes for Sale | San Marcos Real Estate Market Report for December 2010
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Jeff - Love these market reports. You certainly are consistent!