Here’s the San Marcos Market Report for April 2024. And here’s the Market Report for March as a comparison.
The San Marcos real estate market continues to shift. This report does not included private sales, mobile homes or multi-family housing. The data are from the MLS and believed accurate at the time this report was published but are not guaranteed.
It’s important that buyers and sellers have up-to-date information about local market conditions in order to make educated buying and/or selling decisions.
59 homes sold in April, up 13% from last month. Here’s the breakdown of activity.
SAN MARCOS MARKET REPORT DETAILS
Single Family Homes Sold – 44 (up 29%). 13 Average Days on Market. The Average Sales Price was $1,220,443 (down 8%). Average Sale Price was 102% of original asking price.
Condos, Townhomes and Duplexes Sold – 15 (down by 3). 10 Average Days on Market. The Average Sales Prices was $642,133 (up 3%). Average Sale Price was 97% of the original asking price.
The overall sales volume in April rose significantly from last month. There were more single family homes sold, but fewer condo, townhome and duplex sales. The average sales price dropped for single family homes, but increased slightly for condos, townhomes and duplexes. Sales prices ranged from $230,000 to $2,967,021.
Compared to April 2023, there was 1 fewer single family home sale in 2024. There were 37% fewer condo, townhome and duplex sales in 2024. The average sales price for single family homes in 2024 was 7% higher than 1 year ago. The median price was 15% higher. In contrast, the average price was 3% lower in April 2024 for condos, townhomes and duplexes. The median price was 7% higher.
The average time on the market in April was shorter for single family homes. The marketing time was also shorter for condos, townhomes and duplexes compared to last month. 56% of the homes were pending in 1 week or less.
While some buyers negotiated their sales prices, 69% paid list price or more. The median sales price of the single family homes was $1,125,000 (up 1%). The median price was 6% higher for condos, townhomes and duplexes at $720,000.
The San Marcos housing inventory improved significantly from March (60) with 85 homes for sale at the end of the month. This was good news for buyers. List prices range from $325,000 to $4,300,000. There is a supply of 1.3 months for condos, townhomes and duplexes (up from 25 days last month). There is a supply of 1.8 months for single family homes (up from 1.7 months last month). This is based on the rate of sales over the last 3 months.
San Marcos continues to be a very strong seller’s market based on supply and buyer demand.
88 new listings came on the market in April, an increase from last month’s 63. The number of homes going pending also increased slightly by 2 to 55, excluding homes that closed escrow in April.
This summary of the San Marcos housing market is based on data found in the MLS. I can share more details for neighborhoods of interest, too (e.g., San Elijo Hills, Lake San Marcos, Santa Fe Hills).
Please reach out to me directly or by text at (760) 840-1360 to discuss your personal housing needs, timing, lifestyle, budget and any questions. Then we can work together to develop a plan to buy your new San Marcos home if that’s your goal.
Are you thinking about selling your San Marcos home? Let’s talk about the current local market conditions that can affect your home sale. I will also review a customized market and equity analysis with you. Then we can develop a strategy to sell your home for the best price, terms and conditions.