Here’s the San Marcos Market Report for November. And here’s the Market Report for October for comparison.
The San Marcos real estate market continues to change. This Market Report does not include private sales, mobile homes or multi-family housing. This information is from the MLS and is believed accurate at the time this report was published but is not guaranteed.
Buyers and sellers need to have up-to-date information about local market conditions in order to make educated buying and/or selling decisions
53 homes sold in November in San Marcos, 5 fewer than last month.
SAN MARCOS MARKET REPORT DETAILS
Single Family Homes Sold – 33 (down by 7). 43 Average Days on Market. The Average Sales Price was $1,236,328 (up 2%). Average sale price was 94% of the original asking price.
Condos, Townhomes and Duplexes Sold – 20 (up by 2). 30 Average Days on Market. The Average Sales Price was $745,900 (down 3%). Average sale price was 98% of original asking price.
The overall sales volume in November dropped from last month. There were fewer single family homes sales, however, condo, townhome and duplex sales were up by 2. The average sales price increased slightly for single family homes, while average price was lower for condos, townhomes, and duplexes. November sales prices ranged from $255,000 to $2,670,000.
There were 7 more single family home sales in 2024 than 1 year ago. And 1 more condo, townhome and duplex sold in 2024 than in 2023. The average sales price for single family homes in 2024 was 4% higher than 1 year ago (median was 14% higher). In contrast, the average sales price was 2% lower in November 2024 for condos, townhomes and duplexes. The median price did not shift.
The average time on the market in November was longer for single family homes, as it was for condos, townhomes and duplexes compared to October. 23% of the homes went pending in 6 days or less.
The majority of the home buyers negotiated their sales prices, while 28% paid asking price or higher. The median sales price for single family homes was $1,180,000, the same as in October. The median price of $770,000 was 2% lower for condos, townhomes and duplexes.
The San Marcos housing inventory declined by 9% with 116 homes for sale at the end of the month. List prices range from $145,000 to $4,159,000. There is a supply of 2.3 months for condos, townhomes and duplexes (up from 2 months last month). There is a supply of 1.9 months for single family homes (the same as last month). These are based on the rate of sales over the last 3 months.
San Marcos remains a very strong seller’s market based on current supply and buyer demand.
48 new listings came on the market in November, down from 76 last month. Similarly, the number of homes that went pending decreased, from 44 to 38, excluding homes that closed escrow in November.
This review of the San Marcos housing market is based on information from the MLS. I’m happy to share more details for neighborhoods of interest (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 personal housing needs, timing, lifestyle, budget, and questions. Then we can work together to create a plan to buy your new San Marcos home if that’s your desire.
Are you thinking about selling your San Marcos home? Let’s talk about the current market conditions that may affect your home sale. We can also review a customized market and equity analysis for your property. Then we can develop a strategy to sell your home for the best price, terms and conditions.