Here’s the San Marcos Market Report for September 2024. And here’s the Market Report for August for comparison.
The San Marcos real estate market continues to shift. This Market Report does not include private sales, mobile homes or multi-family housing. The information is from the MLS and is 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.
54 homes sold in September in San Marcos, down 31% from last August.
SAN MARCOS MARKET REPORT DETAILS
Single Family Homes Sold – 34 (down 31%). 28 Average Days on Market. The Average Sales Price was $1,267,212 (up 12%). Average sale price was 97% of original asking price.
Condos, Townhomes and Duplexes Sold – 20 (down 33%). 24 Average Days on Market. The Average Sales Price was $713,544 (up 7%). Average sale price was 97% of original asking price.
The overall sales volume in September dropped substantially from last month. Significantly fewer single family homes sold, and condo, townhome and duplex sales also declined by 33%. The average sales price increased for single family homes, as well as for condos, townhomes, and duplexes. September sales prices ranged from $385,000 to $1,779,000.
There were 2 more single family home sales in 2024 than 1 year ago. And there were 5 more condo, townhome and duplex sales in 2024. The average sales price for single family homes in 2024 was 2% higher than 1 year ago (the median price was 11% higher). Similarly, the average sales price was 6% higher in September 2024 for condos, townhomes and duplexes and the median price was higher by 9%.
The average time on the market in September was 13 days longer for single family homes. Marketing time was 2 days longer for condos, townhomes and duplexes compared to last month. 33% of the homes went pending in 1 week or less.
The majority of home buyers negotiated their sales prices, however, 39% of the buyers paid asking price or higher. The median sales price of the single family homes was $1,297,000 (up 28% from September). The median price was 14% higher for condos, townhomes and duplexes at $755,000.
The San Marcos housing inventory increased from last month (121) with 127 homes for sale at the end of the month. List prices range from $165,000 to $4,159,000. There is a supply of 2 months for condos, townhomes and duplexes (up from 1.7 months last month). There is a supply of 1.8 months for single family homes (up from 1.6 months 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 supply and demand.
68 new listings came on the market in September, down from 86 last month. The number of homes going pending increased slightly, from 46 to 49, excluding homes that closed escrow in September.
This summary of the San Marcos housing market is based on information in 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).
NEXT STEPS FOR BUYERS AND SELLERS
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 considering selling your San Marcos home? Let’s discuss the current market conditions that may impact your home 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.