Here’s the Market Report for San Marcos for June 2024. And here’s the Market Report for May for comparison.
The San Marcos real estate market continues to shift. This report does not include private sales, mobile homes or multi-family housing (the information is from the MLS and believed accurate at the time this report was published but is not guaranteed).
It’s important that buyers and sellers have current information about local market conditions in order to make informed buying and/or selling decisions.
70 homes sold in June 2024 in San Marcos, 5 fewer than last month.
SAN MARCOS MARKET REPORT DETAILS
Single Family Homes Sold – 48 (down 14%). 17 Average Days on Market. The Average Sales Price was $1,344,833 (down 1%). Average sale price was 99% of original asking price.
Condos, Townhomes and Duplexes Sold – 22 (up by 3). 13 Average Days on Market. The Average Sales Price was $661,795 (down 2%). Average sale price was 100% of original asking price.
The overall sales volume in June decreased from May. While there were fewer single family homes sold, there were 3 more condo, townhome and duplex sales. The average sales price dropped slightly for single family homes, as it also did for condos, townhomes, and duplexes. Sales prices ranged from $289,000 to $3,600,000.
Compared to June 2023, there was 1 more single family home sold in 2024. Similarly, there was 1 more condo, townhome and duplex sale in 2024 than 1 year ago. The average sales price for single family homes in 2024 was 15% higher than 1 year ago; the median was 14% higher. On the other hand, the average price was 6% lower in June 2024 for condos, townhomes and duplexes while the median sales price was 3% lower.
The average time on the market in June was 2 days longer for single family homes but was substantially shorter for condos, townhomes and duplexes compared to last month. 41% of the homes were pending in 7 days or less, less than last month.
While plenty of home buyers negotiated their sales prices, 57% of the buyers paid the asking price or higher. The median sales price of the single family homes was $1,255,000 (up 3% from May). The median was 5% lower for condos, townhomes and duplexes at $703,500.
The San Marcos housing inventory improved slightly from May (101), with 105 homes for sale at the end of the month. List prices range from $165,000 to $4,300,000. There is a supply of 1.8 months for condos, townhomes and duplexes (up from 1.7 months last month). There is a 1.4 month supply for single family homes (down from 1.6 months last month). This is based on the rate of sales over the last 3 months.
As a result, San Marcos continues to be a very strong seller’s market based on current supply and demand.
77 new listings came on the market in June, a decrease from last month’s 86. The number of homes going pending increased slightly, from 54 to 56, excluding homes that closed escrow in June.
This San Marcos Market Report is based on data in the MLS. I can share more details for neighborhoods that interest you (e.g., San Elijo Hills, Lake San Marcos, Santa Fe Hills).
Please reach out to me directly or by text at (760) 840-1360 to discuss your particular housing needs, timing, lifestyle, budget, and questions. Then we can work together and create a plan to buy your new San Marcos home if that’s your desire.
Are you considering selling your San Marcos home? We should discuss the current market conditions that may affect your sale and review a customized market and equity analysis. Then we can create a strategy to sell your home for the best price, terms and conditions.