Here’s the July 2022 San Marcos Market Report. Look back at the market report for June 2022 here.
70 homes sold in San Marcos’ 2 zip codes, 15 fewer sales than last month (down 18%) and another sales decline. Here’s the breakdown of overall activity.
Single Family Homes Sold – 51 (down 22%). 19 Average Days on Market. The Average Sales Price was $1,197,124 (no change. Average sale was 99% of original asking price.
Condos, Townhomes and Duplexes Sold – 19 (down by 1). 12 Average Days on Market. The Average Sales Price was $716,394 (up 7%). Average sale 100% of original asking price.
July sales volume decreased substantially, and especially for single family home sales. There was 1 less condo, townhome and duplex sale. The average sales price did not change for single family homes, but was higher for condos, townhomes, and duplexes. Sales prices ranged from $175,000 to $2,800,000.
The average days on the market (DOM) was longer for single family homes, and for condos, townhomes and duplexes. The average was still well under 3 weeks. Nearly half of the homes (46%) went pending in 7 days or less, which was fewer than last month.
Plenty of buyers negotiated their sales prices down in July. However, 39% paid over list price! The median sales price of single family homes was $1,065,000 (down 5%). The median price was $731,000 (1% lower)for condos, townhomes and duplexes.
The San Marcos housing inventory was up again in July, with 149 homes for sale (up by 5%). List prices range from $390,000 to $3,299,000. This is a supply of 17 days for condos, townhomes and duplexes, and 1.8 months for single family homes. This is based on the rate of sales over the last 3 months.
Despite the improvement in inventory, San Marcos remains a very strong seller’s market based on supply and demand.
Fewer new listings hit the market in July, 112 (down 12%), but still 3+ new properties each day. The number of homes going pending was stable at 59, not counting homes that closed in July.
These statistics are based on data provided by the MLS. I can share more details for specific areas of interest (e.g., San Elijo Hills, Lake San Marcos, Santa Fe Hills).
Shall we talk real estate? Please reach out to me at (760) 840-1360 directly or by text. That way we can review your specific housing needs, timing, lifestyle, budget, and questions. Then we’ll design a plan to buy your new San Marcos home.
Are you thinking about selling your San Marcos home? Let’s discuss the current market conditions that can affect your sale. And review a market and equity analysis for your home. Then we’ll develop a strategy to sell your home quickly for the best price, terms and conditions.