
Here’s the December 2024 Market Report for San Marcos. And here’s the Market Report for November for a comparison.
The San Marcos real estate market continues to change. This Market Report does not include private sales, mobile homes or multi-family housing. This information was found in the MLS and is believed accurate at the time this report was published but is not guaranteed.
It’s essential for buyers and sellers to have current information about local market conditions so they can make informed buying and/or selling decisions.
47 homes sold in December in San Marcos, a decline of 6 sales from last month.
SAN MARCOS MARKET REPORT DETAILS
Single Family Homes Sold – 27 (down by 6). 39 Average Days on Market. The Average Sales Price was $1,175,134 (down 5%). Average sale price was 98% of original asking price.
Condos, Townhomes and Duplexes Sold – 20 (no change). 38 Average Days on Market. The Average Sales Price was $602,200 (down 19%). Average sale price was 98% of original asking price.
The overall sales volume in December declined from last month. There were fewer single family homes sold, while condo, townhome and duplex sales did not change. The average sales price decreased for single family homes, while the average price was substantially lower for condos, townhomes, and duplexes. December sales prices ranged from $160,000 to $1,835,000.
1 more single family home sold in 2024 than 1 year ago, while there were 11 more condo, townhome and duplex sales in 2024. The average sales price for single family homes in 2024 was 3% higher than in December 2023 (the median was about the same). In contrast, the average sales price was 11% lower in December 2024 for condos, townhomes and duplexes while the median price shifted down by 2%.
The average time on the market in December was several days shorter for single family homes. Average time on market was 8 days longer for condos, townhomes and duplexes compared to last month. 21% of the homes went pending in 6 days or less.
While most home buyers were able to negotiate their sales prices, 36% paid asking price or more. The median sales price of the single family homes was $1,071,500 (down 9% from November). The median sales price of $701,500 was 9% lower for condos, townhomes and duplexes.
The San Marcos housing inventory declined substantially by 33% with 78 homes for sale at the end of the month. List prices range from $145,000 to $4,159,000. There is a supply of 1.7 months for condos, townhomes and duplexes (down from 2.3 months last month). There is a supply of 1.3 months for single family homes (down from 1.9 months last month). This is based on the rate of sales over the last 3 months.
San Marcos remains a very strong seller’s market based on supply and demand.
28 new listings came on the market in December, a decline from 48 last month. The number of homes going pending decreased slightly, from 38 to 35, excluding homes that closed escrow in December.
This review of the San Marcos housing market is based on information from the MLS. I’m happy to share more details for neighborhoods of interest (e.g., San Elijo Hills, Lake San Marcos, Santa Fe Hills).
Please reach out directly or by text at (760) 840-1360 to discuss your personal housing needs, timing, lifestyle, budget, and questions. Then we can work together to develop a strategy 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 market conditions that may impact your home sale and review a customized market and equity analysis. Then we can develop a strategy to sell your home for the best price, terms and conditions.
If you would like to know more about your home’s current market value, feel free to reach out to me directly or by text at (760) 840-1360.