Here’s the Market Report for San Marcos for 2023. Check out the May market report as a comparison in case you missed it.
The San Marcos real estate market continues to shift. This report does not include private sales, mobile homes or multi-family housing Information is taken from the MLS and believed to be accurate when this report was published, but is not guaranteed.
Buyers and sellers need to have current information about local market conditions so they can make informed buying and/or selling decisions.
66 homes sold in June in San Marcos, 2 more than last month.
MARKET REPORT DETAILS FOR JUNE 2023
Single Family Homes Sold – 47 (up by 4). 19 Average Days on Market. The Average Sales Price was $1,166,118 (up 3%). Average sale was 102% of original asking price.
Condos, Townhomes and Duplexes Sold – 21 (no change). 18 Average Days on Market. The Average Sales Price was $704,380 (down 2%). Average sale was 100% of original asking price.
Overall sales volume in June increased from May. There were 4 more single family homes sold, but the same number of condo, townhome and duplex sales. The average sales price was slightly higher for single family homes, but was a little lower for condos, townhomes, and duplexes. Sales prices ranged from $280,000 to $2,208,666.
Looking back to June 2022, there were 29% fewer single family home sales in 2023. About the same number of condos, townhomes and duplexes sold in 2023 (1 less). The average sales price for single family homes in 2023 was 2% lower than 1 year ago. The average was 5% higher in June 2023 for condos, townhomes and duplexes.
Average time on the market (DOM) in June was slightly shorter for single family homes than last month, as it was for condos, townhomes and duplexes. Almost half (49%) of the homes were pending in 7 days or less.
Some home buyers negotiated their sales prices down from list price. However, 3 out of 4 buyers paid asking price or higher, more than in May. The median sales price for single family homes was $1,103,500 (12% higher than last month). The median for condos, townhomes and duplexes was $729,990 (up 2%).
The housing inventory improved slightly in June. There were 53 homes for sale at the end of the month. List prices range from $230,000 to $3,295,000. This is a supply of only 18 days for condos, townhomes and duplexes. There is a 27 day supply for single family homes. Supply is based on the rate of sales over the last 3 months.
San Marcos continues as a very strong seller’s market looking at current supply and demand.
66 new listings came on the market in June, up from last month’s 62 listings. The number of homes going pending also increased from 48 to 52, excluding those homes that closed in June.
This overview of the San Marcos real estate market is based on MLS data. I can share details for particular neighborhoods of interest (e.g., San Elijo Hills, Twin Oaks, Lake San Marcos, Santa Fe Hills).
Is it time to discuss your real estate plans given today’s real estate market? Please contact me at (760) 840-1360 directly or by text to discuss your particular housing needs, timing, lifestyle, budget, and questions. Then we’ll develop a strategy to buy your new San Marcos home if that’s the plan.
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.