San Marcos Market Report December 2022

San Marcos Market Report for May 2023

Here’s the San Marcos Market Report for December 2022. The San Marcos real estate market continues to evolve each month. The data do not include private sales, mobile homes or multi-family housing. The information is taken from the MLS and believed accurate at the time this report was published, but not guaranteed.

Here is the San Marcos Market Report for November 2022 for comparison.

You can read more about San Marcos CA here.

Lake San Marcos in San Marcos CA

Having up-to-date information about the local market conditions will help you make educated buying and/or selling decisions.

39 homes sold in December in San Marcos, 9 fewer than last month. Here’s the breakdown of overall activity.

Single Family Homes Sold – 27 (down 27%). 32 Average Days on Market. The Average Sales Price was $967,186 (down 10%). Average Sales Price was 94% of original asking price.

Condos, Townhomes and Duplexes Sold – 12 (up by 1). 25 Average Days on Market. The Average Sales Price was $598,241 (down 4%). Average Sales Price was 96% of original asking price.

Overall sales volume in December decreased from November. There was fewer single family homes sold, but 1 more condo, townhome and duplex sale. The average sales price was lower for single family homes, and for condos, townhomes, and duplexes. December sales prices ranged from $339,000 to $3,995,000.

Compared to December 2021, there were 62% fewer single family home sales in 2022.  Similarly, there were 37% fewer condo, townhome and duplex sales in 2022 than 1 year ago.

The average sales price for single family homes in 2022 was 6% lower than 1 year ago. On the other hand, the average sales price was 5% higher in December 2022 for condos, townhomes and duplexes.

The average time on the market in December was several days longer for single family homes, but shorter for condos, townhomes and duplexes than in November. 28% of the homes went pending in 7 days or less, about the same as last month.

The majority of buyers negotiated their sales prices in December down from list price. At the same time 23% of the buyers paid asking price or higher, which is fewer than last month. The median sales price of the single family homes was $853,125 (down 12%). The median sales price for condos, townhomes and duplexes was $613,000 (up 1%).

The San Marcos housing inventory dropped, with 81 homes for sale at the end of December (down 25%). List prices range from $339,000 to $3,995,000. This is a supply of 1.8 months for condos, townhomes and duplexes. There is a supply of 1.7 months for single family homes. This is based on the rate of sales over the last 3 months.

As a result San Marcos remains a very strong seller’s market based on current supply.

Fewer new listings (27) came on the market in December. This is half the number compared to November listings and another decline. The number of homes going pending remained about the same at 30, excluding homes that closed in December.

This summary of the San Marcos real estate market is based on data provided by the MLS. I can share specifics regarding current activity for particular neighborhoods (e.g., San Elijo Hills, Twin Oaks, Lake San Marcos).

Please contact me at (760) 840-1360 directly or by text to discuss 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 home in San Marcos? Let’s discuss the current market conditions that will impact your sale. We’ll also review a market and equity analysis. Then we’ll create a plan to sell your home for the best price, terms and conditions.