Carlsbad Real Estate News and Views: What’s my San Marcos Home Worth? San Marcos Market Report August 2018

Here's the REAL scoop on living in Carlsbad ~ beaches, things to do, places to eat, community events, and of course neighborhoods, homes and the Carlsbad real estate market in general, including surrounding communities like Encinitas, Cardiff, San Marcos, Oceanside, Solana Beach and Del Mar.

What’s my San Marcos Home Worth? San Marcos Market Report August 2018

What’s the Value of my San Marcos Home?

San Marcos Home Sales for August 2018

 

San Elijo Town Center in San MarcosThe 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 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.

 

READ MORE:

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Lake San Marcos – Resort and Residential Community in San Marcos, CA

 

In August 2018 there were 102 homes sold in San Marcos’ 2 zip codes (92069 and 92078), down 16% from last month. Here’s the breakdown of overall activity.

 

TOTAL HOMES SOLD

102 (down 16%), 29Days on Market, Ave. Sales Price $680,279 (up 4%), Ave. sale 98% of asking price

Detached Homes Sold
74 (down 16%), 28 Days on Market, Ave. Sales Price $778,455 (up 8%), Ave. sale 98% of asking price

Attached Homes (condos, town homes) Sold
28 (down 18%), 31 Days on Market, Ave. Sales Price $476,564 (down 12%), Ave. sale 97% of asking price

 

Overall sales volume in August decreased fairly substantially from July. Average time on market shifted up slightly for detached but more significantly for attached homes, but remains at or below 1 month.

 

14% of the transactions were for cash, compared to 10% last month. Buyers negotiated their asking prices on average by 2 - 3%, but 36% of the homes sold at or above asking price! The median sales price of detached homes was $699,950 (up by 1%) and $445,000 (down 9%) for attached homes/condos/town homes.

 

There were 9 San Marcos homes for sale at the end of August with a Contingent status (4% of the total) compared to 3 last month. Typically these are homes with offers awaiting approval from short sale and REO lenders, but 6 are first right of refusals based on contingent offers; 2 are short sales and 1 needs court approval. These homes are included in the overall Active statistics since they are still considered active until the approvals are obtained.

 

San Marcos home

 

The San Marcos real estate market inventory increased substantially by 22% from July to 234, which is more than double the inventory in January. This represents an inventory of 2.2 months for attached homes (up from 1.5 months last month) and 1.9 months for detached (up from 1.7 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 given the buyer demand and current inventory.

 

In August 2018 we saw 154 homes come on the market, a slight increase in new listings, up by 2 (1%) from last month. In contrast the number of homes going pending in August decreased, by 21% to 75 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 month of so and closed in August. 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 any questions you have so we can make a plan to get you into a new home in San Marcos soon.

 

And if you are considering selling your home in San Marcos, let’s get together so we can review the current market conditions, the expected value of your property, and discuss a strategy to make your sale happen quickly and for top dollar.

 

SEARCH FOR SAN MARCOS HOMES FOR SALE

 

READ MORE:

What’s My San Marcos Home Worth? San Marcos Real Estate Market Report July 2018

 

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If I can provide more information about homes for sale in Carlsbad and in surrounding areas, our local housing market, or otherwise assist you, friends or family in a home search or home sale, please contact my mobile office or text me at (760) 840-1360, or feel free to email me at JeffDowlerSolutions@gmail.com

Serving Carlsbad (including Aviara, La Costa & Carlsbad Village),  Encinitas (including Leucadia & Olivenhain), Cardiff, Solana Beach, Del Mar, La Jolla, Rancho Santa Fe, San Marcos (including San Elijo Hills), Oceanside, Escondido, and San Diego

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Comment balloon 6 commentsJeff Dowler, CRS • September 08 2018 12:28AM

Comments

Good day 

Thank you for sharing your information with us 

Have a great day.

09/07/18. 

Posted by Anthony Acosta - ALLATLANTACONDOS.COM, Associate Broker (Harry Norman, REALTORS® ) 2 months ago

Interesting report Jeff Dowler, CRS . Is this a seasonal slow down?

Posted by Bob "RealMan" Timm, Bob Timm, Project Coordinator for Tivoli Homes (Tivoli Custom Homes) 2 months ago

Bob "RealMan" Timm 

It may be the summer. Other communities nearby went UP in sales. This community has been very competitive...I don't think this drop in sales is a trend, but that's a good question you've asked. Time will tell.

Jeff

Posted by Jeff Dowler, CRS, The Southern California Relocation Dude (Solutions Real Estate ) 2 months ago

You always provide good information about your housing market. Thank you for sharing.

Posted by Gita Bantwal, REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel (RE/MAX Centre Realtors) 2 months ago

Great information as always Jeff from you and buyers  and sellers should be reading your blogs all the time.

 

Posted by Will Hamm, "Where There's a Will, There's a Way!" (Hamm Homes) 2 months ago

Good morning Jeff - thanks for the update.  I see your shift in the report and will look forward to future reports since trends tell us even more.

Posted by Grant Schneider, Your Coach Helping You Create Successful Outcomes (Performance Development Strategies) 2 months ago

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