What’s the Value of my San Marcos Home?
San Marcos Market Report for September 2018
The 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.
In September 2018 there were 77 homes sold in San Marcos’ 2 zip codes (92069 and 92078), down 30% from last month, another decline. Here’s the breakdown of overall activity.
TOTAL HOMES SOLD
77 (down 30%), 29 Days on Market, Ave. Sales Price $656,388 (down 4%), Ave. sale 97% of asking price
Detached Homes Sold
54 (down 27%), 31 Days on Market, Ave. Sales Price $768,918 (down 1%), Ave. sale 97% of asking price
Attached Homes (condos, town homes) Sold
23 (down 18%), 25 Days on Market, Ave. Sales Price $392,186 (down 18%), Ave. sale 96% of asking price
Overall sales volume in September decreased substantially from August, following a decline from July. Average time on market shifted up slightly for detached but declined for attached homes, and remains at or below 1 month.
16% of the transactions were for cash, compared to 14% last month. Buyers negotiated their asking prices on average by 3 - 4%, but 26% of the homes sold at or above asking price! The median sales price of detached homes was $733,750 (up by 5%) and $380,000 (down 15%) for attached homes/condos/town homes.
There were 11 San Marcos homes for sale at the end of September with a Contingent status (4% of the total) compared to 9 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; the rest are short sales and court approvals. These homes are included in the overall Active statistics since they are still considered active until the approvals are obtained.
The San Marcos real estate market inventory increased substantially by 12% from August to 262. This represents an inventory of 2.7 months for attached homes (up from 2.2 months last month) and 2.5 months for detached (up from 1.9 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 September 2018 we saw 150 homes come on the market, a slight decrease in new listings, by 3%, from last month. Similarly the number of homes going pending in September decreased slightly, by 3%, to 73 pendings (excluding homes that sold last month).
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 September. 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.
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If I can provide more information about homes for sale in Carlsbad and in surrounding areas, our local housing market conditions, or assist you, friends or family in a purchase 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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