Here’s the San Marcos Market Report for the month of August 2022. And here’s the report for July 2022 in case you missed it.
70 homes sold in San Marcos’ 2 zip codes in August, the same as last month. Here’s the summary of the activity.
Single Family Homes Sold – 44 (down 14%). 19 Average Days on Market. Average Sales Price was $1,075,819 (down 10%). The Average Sale was 96% of the original asking price.
Condos, Townhomes and Duplexes Sold – 26 (up by 37%). 24 Average Days on Market. Average Sales Price was $617,947 (down 14%). The Average Sale was 96% of the original asking price.
Overall sales were the same as last month. The number of single family homes sold dropped, however there were more condo, townhome and duplex sales. The average sales price was lower for single family homes, as it also was for condos, townhomes, and duplexes. Sales prices ranged from $349,000 to $2,150,000.
Average time on the market (DOM) did not shift for single family homes, but was longer for condos, townhomes and duplexes. 24% of the homes went pending in 7 days or less, fewer than last month.
Most buyers negotiated their sales prices in August. Still, 33% paid list price or more. The median sales price of the single family homes was $985,000 (down 8%). The median was$655,000 (down 10%)for condos, townhomes and duplexes.
The San Marcos inventory dropped fairly substantially, with 123 homes for sale at the end of the month (down 17%). List prices range from $399,000 to $2,300,000. This is a supply of 1.6 months for condos, townhomes and duplexes, and 1.6 months for single family homes. This is based on the rate of sales for the last 3 months.
Thus San Marcos continues to be a very strong seller’s market based on current supply and demand.
Fewer new listings came on the market in August, 83 (down 26%). This is not a surprise given the time of year. However, the number of homes going pending increased to 79 (up 34%), excluding homes that closed in August.
This summary of the San Marcos real estate market is based on data provided by the MLS. I can share more for particular neighborhoods (e.g., San Elijo Hills, Twin Oaks, Lake San Marcos, Santa Fe Hills).
Is it time for us to talk about real estate? Please reach out to me at (760) 840-1360 directly or by text. We can review your particular housing needs, timing, lifestyle, budget, and questions. Then we can create a strategy to buy your new San Marcos home.
Are you thinking about selling your San Marcos home? Let’s discuss the current market conditions that will affect your sale, and review a market and equity analysis. Then we’ll develop a plan to sell your home quickly for the best price, terms and conditions.
If you are simply interested in your home’s current market value, please reach out to me at (760) 840-1360.