San Marcos Homes for Sale -
What Happened in the San Marcos Real Estate Market in January 2012?
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 information about local market conditions benefits you as the buyer or seller when making decisions about buying and selling.
In January 2012 there were 75 homes sold in San Marcos’ 2 zip codes (92069 and 92078), down 35% from December. Here’s the breakdown of overall activity.
|
|
TOTAL |
DETACHED |
ATTACHED |
|
# Sold |
75 (down 35%) |
46 (down 48%) |
29 (up 7%) |
|
Ave. $ |
$330,520 (down 10%) |
$399,177 (down 2%) |
$221,616 (down 6%) |
|
DOM |
89 |
82 |
99 |
|
List $/Sale $ |
98% |
99% |
98% |
Sales volume decreased significantly for detached single family homes in San Marcos, but rose modestly for attached properties. Average sales prices shifted up modestly for detached homes but declined for attached. Buyers are not negotiating much on their purchases, getting only 1-2% off the asking price on average.
There were 143 San Marcos homes for sale at the end of January 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.
The San Marcos real estate market tightened further in January - at the end of January 2012 the San Marcos real estate market had 357 homes for sale (40% are contingent), 3% fewer than at the end of December, another decline although modest.
This represents an inventory of 3.5 months for attached homes (down from 3.7 months) and 4 months for detached (up from 3.9 months) based on the current rate of sales over the last 6 months. The San Marcos real estate market remains highly competitive for buyers and is trending more toward a seller’s market overall, with the lowest absorption rates for the North San Diego County coastal communities!
And good news for sellers is that homes are not taking long to sell, on average about 3 months.
READ MORE: How Important is Inventory when Buying or Selling? Very!!
In January 2012 we saw 111 homes come on the market, 13% more than last month. The number of homes going pending in January (83) increased by 26% from last month’s 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 January. 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 – What Happened in the San Marcos Real Estate Market in December 2011?
San Marcos Homes for Sale – What Happened in the San Marcos Real Estate Market in November 2011?
San Marcos Homes for Sale | San Marcos Real Estate Market Report for October 2011
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
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If I can provide more information about Carlsbad homes and real estate for sale and surrounding areas, the housing market in general (or locally), or otherwise assist you, friends or family in a home search 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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Jeff, that is a very positive market report for Carlsbad CA. Good to hear.
Hi Jeff, As I read Mari's comment I realized that I must have missed the report for Carlsbad. :-) This change in San Marcos may be short lived ( hopefully ) as I think the activities are really picking up in most areas. But it was certainly a bigger than expected change downward in the numbers.
Maria - well actually it's San Marcos. LOL. Carlsbad is coming, but thank you nonetheless. I was a bit surprised at the drop in sales but we are seeing that in many areas for January. Given that many of these homes went into escrow during the holidays, it is not surprising that sales drifted off durign this time frame. Will be interesting to see what February brings.
William - no Carlsbad report yet. :) I think the numbers are a reflection of the holidays since the SM market has been very strong. We'll see what February brings.
Jeff