Here’s the San Marcos Market Report for April 2022 (see San Marcos Market Report for March 2022 for comparison).
96 homes sold in San Marcos’ 2 zip codes (92069 and 92078). This is just 4 fewer sales than last month. Here’s the breakdown of overall activity.
Single Family Homes Sold – 60 (down 10%). 9 Average Days on Market. The Average Sales Price was $1,256,516 (up 9%). In addition, the Average sale was 108% of original asking price.
Condos, Townhomes and Duplexes Sold – 36 (up by 3). 5 Average Days on Market. The Average Sales Price $708,611 (up 10%). Average sale was 109% of original asking price.
Overall sales volume in April declined slightly. There were fewer single family home sales, but 3 more condo, townhome and duplex sales. The average sales price was higher for single family homes, and for condos, townhomes, and duplexes. Sales prices ranged from $159,000 to $2,800,000.
The average time on the market was several days longer for single family homes. On the other hand, marketing time was substantially shorter for condos, townhomes and duplexes. 3 out of 4 homes went pending in 1 week or less. As a result buyers should be prepared to make quick decisions.
Some buyers were able to negotiate their sales prices. However, most (82%) paid over asking price! The median sales price of single family homes was $1,142,500 (up 4%). The median was $740,000 (up 16%)for condos, townhomes and duplexes.
The April housing inventory increased substantially, with 61 homes for sale (up 53%), and good news for buyers. List prices range from $499,900 to $4,499,999. There is a supply of only 10 days for condos, townhomes and duplexes, the same as last month. The inventory is 26 days for single family homes, up from 16 days in March. These are based on the rate of sales over the last 3 months.
Hence, San Marcos continues to be a very strong seller’s market based on current supply and demand.
We saw significantly more new listings in April, 103 (up 21%), which was good news for buyers. The number of homes going pending remained about the same at 82 (up by 1), excluding those homes that closed.
This summary of the San Marcos housing market is based on data in the MLS. I can provide more details regarding current activity for neighborhoods that are of interest to you. Some popular areas include San Elijo Hills, Twin Oaks, Lake San Marcos, and Santa Fe Hills.
Let’s talk real estate! Please contact me at (760) 840-1360 to discuss your personal housing needs, timing, lifestyle, budget, and questions. We can then create a strategy to help buy your new San Marcos home.
Are you thinking about selling your home in San Marcos? Let’s discuss the current market conditions that can affect your sale. Furthermore, we’ll review a market and equity analysis of your home, and talk about preparing for the market. Lastly, we’ll create a plan to help sell your home quickly for the best price, terms and conditions. (Read Planning to Sell Your Home? Where Will you Go?)
Are you interested in the market value of your home? If so, please reach out to me at (760) 840-1360 directly or by text to discuss.