San Marcos Real Estate Market Report for August 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 August 2011 there were 102 homes sold in San Marcos’ 2 zip codes (92069 and 92078), up 9% from last month. Here’s the breakdown of overall activity.
|
|
TOTAL |
DETACHED |
ATTACHED |
|
# Sold
|
102 (up 9%) |
71 (up 4%) |
31 (up 19%) |
|
Ave. $
|
$351,009 (down 2%) |
$400,353 (down 4%) |
$237,995 (up 13%) |
|
DOM
|
72 |
68 |
80 |
|
List $/Sale $
|
98% |
97% |
98% |
Sales volume rose overall, particularly for attached home sale, combined with a decline in average sales price for detached homes but a bump up in average prices for attached.
There were 142 San Marcos homes for sale at the end of August with a Contingent status, i.e., homes with offers awaiting approval from the short sale and REO lenders, the same as last month. These homes are included in the overall Active stats since they are still considered active until the approvals are obtained.
At the end of August 2011 the San Marcos real estate market had 456 homes for sale (31% are contingent), a 3% decrease in inventory from July. This represents an inventory of 4.3 months for attached homes (down from 4.6 months) and 4.5 months for detached (down from 4.9 months in July) based on the current rate of sales over the last 6 months. The San Marcos real estate market remains competitive for buyers, with the lowest absorption rates for the North San Diego County coastal communities!
READ MORE: How Important is Inventory when Buying or Selling? Very!!
In August 2011 we saw 132 homes come on the market, 24% fewer than last month, which may lead to an even more competitive market. The number of homes going pending in August (81) saw a decline, by 6%, from July 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 August. 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 July 2011
San Marcos Homes for Sale | San Marcos Real Estate Market Report for June 2011
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
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Interesting. As long as the List to Sale percentage remains high, sellers should be pleased.
Hi Jeff, I think San Marcos always has good demand due to its great location between the 15 and 5 freeways. And the San Elijo Hills community definitely helps out!
Lenn - plus things are selling fairly quickly and absorption is low.
Steve - so true. THings have inproved over the last year.
Jeff