Here’s the San Marcos Market Report for March 2022.
100 homes sold in San Marcos’ 2 zip codes, hence 32% more sales than last month. Check out the San Marcos market report for February as a comparison.
Here’s the breakdown of overall activity.
Single Family Homes Sold – 67 (up 68%). 6 Average Days on Market. The Average Sales Price was $1,154,258 (up 4%). Average sale was 109% of original asking price.
Condos, Townhomes and Duplexes Sold – 33 (down by 3). 15 Average Days on Market. The Average Sales Price was $642,390 (up 6%). Average sale was 106% of original asking price
Overall sales volume in March rose significantly, with a large increase in single family home sales. In contrast, there were slightly fewer condo, townhome and duplex sales.
The average sales price rose for single family homes, as well as for condos, townhomes, and duplexes. Sales prices ranged from $187,500 to $3,025,000.
The average time on the market (DOM) dropped for single family homes. In contrast, marketing time was longer for condos, townhomes and duplexes, but still only about 2 weeks.
Buyers should plan to decide quickly about seeing homes they like, and making offers. Why? Because 75% of the homes went pending in 1 week or less.
Some buyers negotiated their sales prices down. However, the majority (89%) paid asking price or higher! The median sales price of single family homes was $1,100,000 (up 18%). And it was $640,000 for condos, townhomes and duplexes (down 1%).
The San Marcos housing inventory did not shift in March, with 40 homes for sale. List prices range from $162,500 to $3,000,000. As a result, this represents a supply of only 10 days for condos, townhomes and duplexes, and 16 days for single family homes. This is based on the rate of sales over the last 3 months.
Based on supply and demand, San Marcos continues to be a very strong seller’s market.
In March 2022 we saw the same number of new listings, 85, as we did last month. That’s some good news for buyers. The number of homes going pending rose modestly, however, from 79 last month to 83 (excluding homes that closed). It was a busy month for sellers and buyers.
Data for this San Marcos real estate market overview was taken from the MLS. I can provide more details regarding current activity, within the zip codes of San Marcos. Or for neighborhoods that are of interest, such as San Elijo Hills, Twin Oaks, or Lake San Marcos.
Let’s talk real estate! Please reach out to me at (760) 840-1360 so we can discuss your particular housing needs, timing, lifestyle, budget, and questions. Then we’ll create a strategy to help buy your new San Marcos home.
Are you considering selling your home in San Marcos? Let’s have a discussion about current market conditions, and a market and equity analysis of your home. I’ll help you create a plan for your sale to happen quickly, and for the best price, terms and conditions. You might want to read this, too – Planning to Sell? Where Will You Go?
If you are interested in learning the market value of your home, please call or text me at (760) 840-1360.