San Marcos Real Estate Market Report for October 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 October 2011 there were 77 homes sold in San Marcos’ 2 zip codes (92069 and 92078), down 7% from September, the second month of decline. Here’s the breakdown of overall activity.
|
|
TOTAL |
DETACHED |
ATTACHED |
|
# Sold |
77 (down 7%) |
49 (down 16%) |
28 (up 12%) |
|
Ave. $ |
$353,724 (no change) |
$421,476 (up 4%) |
$235,158 (no change) |
|
DOM |
65 |
65 |
65 |
|
List $/Sale $ |
98% |
98% |
99% |
Sales volume declined for detached single family homes in San Marcos but rose for attached properties. Average sales prices remained about the same as last month for attached home but rose 4% for single family detached homes.
There were 143 San Marcos homes for sale at the end of October 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 October 2011 the San Marcos real estate market had 443homes for sale (32% are contingent), just 1% fewer than at the end of September. This represents an inventory of 4.2 months for attached homes (up from 3.8 months) and 4.5 months for detached (the same as for the prior 2 monthst) based on the current rate of sales over the last 6 months. The San Marcos real estate market remains highly 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 October 2011 we saw 125 homes come on the market, 9% fewer than last month. The number of homes going pending in October (86) saw an decrease of 12% from September 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 October. 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 September 2011
San Marcos Homes for Sale | San Marcos Real Estate Market Report for August 2011
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
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H Jeff, Another excellent report. Mybusiness has sort of tanked other than a few listings. But it does every year at this time and hoepfully next year will have lots of activity for everyone. I have a number of new listings lined up for early Spring which I think bodes well for some early activity.
Jeff - Great real estate market report for San Marcos homes, hopefully they're be an increase in sales next month.
Hi Jeff - excellent real estate market report for San Marcos. And I am with Michelle and hope that you will have a surge in sales.
William - good for you. The trend here seems to be simil arin other communities in my area, although the San Marcos absoprtion rate is the lowest in the area.
Michelle - thanks for the compliment. This trend seems to be pretty common around here right at the moment.
Sharon - I hope so too, although the current trend is not worrisome. THings ARE selling and the market there remains pretty competitive.
Jeff