Here’s the Market Report for San Marcos for October 2024. And here’s the Market Report for September as a comparison.
The San Marcos real estate market continues to change. This Market Report does not include private sales, mobile homes or multi-family housing. The data are from the MLS and are believed accurate at the time this report was published but are not guaranteed.
It’s important that buyers and sellers have up-to-date information about local market conditions so they can make educated buying and/or selling decisions.
58 homes sold in October in San Marcos, 4 more than last month.
SAN MARCOS MARKET REPORT DETAILS
Single Family Homes Sold – 40 (up by 6). 21 Average Days on Market. The Average Sales Price was $1,207,021 (down 5%). Average Sale Price was 99% of the original asking price.
Condos, Townhomes and Duplexes Sold – 18 (down by 2). 26 Average Days on Market. The Average Sales Price was $772,277 (up 8%). Average Sale Price was 99% of the original list price.
The overall sales volume in October rose modestly from last month. There were more single family homes sold, with condo, townhome and duplex sales dropping by 2. The average sales price declined for single family homes, while the average price was increased for condos, townhomes, and duplexes. October sales prices ranged from $360,000 to $1,887,000.
There were 2 fewer single family home sales in 2024 than 1 year ago, and 5 fewer condo, townhome and duplex sales in 2024. The average sales price for single family homes in 2024 was 1% higher than 1 year ago (the median was 2% higher). Similarly, the average sales price was 10% higher in October 2024 for condos, townhomes and duplexes while the median price was 7% higher.
The average time on the market in October was 7 days shorter for single family homes. Marketing time was 2 days longer for condos, townhomes and duplexes compared to last month. 36% of the homes went pending in 1 week or less, up from September.
50% of the home buyers negotiated their sales prices, and 50% paid asking price or more. The median sales price of single family homes was $1,180,000 (down 9% from September). The median price was 4% higher for condos, townhomes and duplexes at $787,500.
The San Marcos housing inventory did not shift from September, with 127 homes for sale. List prices range from $155,000 to $4,159,000. There is a supply of 2 months for condos, townhomes and duplexes (the same as last month). And there is a 1.9 month supply for single family homes (up from 1.8 months last month). This is based on the rate of sales over the last 3 months and the current supply.
Thus, San Marcos remains a very strong seller’s market based on supply and demand.
76 new listings came on the market in October, an increase from last month’s 68. On the other hand the number of homes going pending decreased, from 49 to 44, excluding homes that closed escrow in October.
NEXT STEPS?
This review of the San Marcos housing market is based on information from the MLS. I’m happy to 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 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 impact your home sale and review a customized market and equity analysis. Then we can develop a strategy to sell your home for the best price, terms and conditions.
If you would like to know more about your home’s current market value let’s have a conversation. Please reach out to me directly or by text at (760) 840-1360.