Here’s the San Marcos Market Report for January 2023. And here is the market report for December 2022 in case you missed it.
The San Marcos housing market continues to evolve. These 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.
Having up-to-date information about local market conditions will help you make informed buying and/or selling decisions.
33 homes sold in January 2022 in San Marcos, down 15% from last month (39). Here’s the breakdown of overall activity.
Single Family Homes Sold – 27 (no change). 27 Average Days on Market. The Average Sales Price was $1,072,916 (up 11%). Average sale was 96% of original asking price.
Condos, Townhomes and Duplexes Sold – 6 (down 50%). 64 Average Days on Market. The Average Sales Price was $615,458 (up 3%). Average sale was 94% of original asking price.
Overall sales volume in January declined from December. The number of single family homes sold remained the same, but condo, townhome and duplex sales declined significantly.
The average sales price was lower for single family homes, and for condos, townhomes, and duplexes. Sales prices ranged from $339,000 to $3,995,000.
Looking back 1 year, there were 46% fewer single family home sales in 2023 than in January 2022. Similarly, there were 71% fewer sales of condos, townhomes and duplexes. The average sales price for single family homes in 2023 was 4% lower than 1 year ago, but 2% higher in January 2023 for condos, townhomes and duplexes.
The average time on the market in January was several days shorter for single family homes. In contrast, marketing time was substantially longer for condos, townhomes and duplexes than last month. At the same time 12% of the homes went pending in 7 days or less, fewer than in December.
Many buyers negotiated their sales prices in January. However 30% of the buyers paid asking price or higher, up from last month. The median sales price of the single family homes was $1,075,000 (up 26%). The median was $635,000for condos, townhomes and duplexes, up 4%.
The San Marcos housing inventory dropped again in January, with 60 homes for sale at the end of the month (down by 26%). List prices range from $335,000 to $3,995,000. This is a supply of 2.4 months for condos, townhomes and duplexes, and 1.2 months for single family homes. Supply 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 current supply and demand.
56 new listings came on the market in January which was double the number in December. The number of homes going pending also increase substantially to 58 (versus 30 in December), excluding homes that closed in January.
This overview of the San Marcos real estate market is based on data in the MLS. I can share more specifics regarding current activity, and for particular neighborhoods (e.g., San Elijo Hills, Twin Oaks, Lake San Marcos, Santa Fe Hills).
Please contact me at (760) 840-1360 directly or via text to discuss your personal housing needs, timing, budget, and questions. We can then develop 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 can create a plan to sell your home quickly for the best price, terms and conditions.