Here’s the September 2022 Market Report for San Marcos. If you missed it, here’s the August 2022 market report.
88 homes sold in September 2022 in San Marcos’ 2 zip codes, up 26% from last month. Here’s the breakdown of overall activity.
Single Family Homes Sold – 62 (up by 41%). 25 Average Days on Market. The Average Sales Price was $1,032,989 (down 4%). Average sale was 95% of original asking price.
Condos, Townhomes and Duplexes Sold – 26 (no change). 21 Average Days on Market. Average Sales Price was $624,799 (up by 1%). The Average Sales Price was 97% of original asking price.
Overall sales volume in September rose substantially from August. This was due to a large increase in the number of single family homes. The number of condo, townhome and duplex sales did not change. Average sales price declined modestly for single family homes, but rose slightly for condos, townhomes, and duplexes. September sales prices ranged from $402,000 to $2,900,000.
Looking back to September 2021, there were 32% fewer single family home sales in 2022. And there were 33% fewer sales of condos, townhomes and duplexes. The average sales price for single family homes in 2022 was 6% higher than 1 year ago. Average sales price was 1% higher for condos, townhomes and duplexes in September 2022.
The average days on the market (DOM) in September was longer for single family homes, but shorter for condos, townhomes and duplexes. 24% of the homes went pending in 7 days or less.
Most buyers negotiated their sales prices in September. However, 25% paid the asking price or more. The Median sales price of the single family homes was $925,000 (down 6%). The Median price was $647,500 for condos, townhomes and duplexes, which was down by 1% from last month.
The San Marcos housing inventory dropped by 4 in September, with 119 homes for sale at the end of the month. List prices range from $399,000 to $2,300,000. This is a supply of 1.2 months for condos, townhomes and duplexes and 1.7 months for single family homes. This is based on the rate of sales over the last 3 months.
As a result San Marcos remains a very strong seller’s market based on supply and demand.
Fewer new listings entered the market in September, 63 (down 24%), another decline. Similarly, the number of homes going pending decreased to 40 (down 49%), excluding homes that closed in September.
This summary of the San Marcos real estate market is based on data in the MLS. I can also share specifics regarding housing for particular neighborhoods (e.g., San Elijo Hills, Lake San Marcos, Santa Fe Hills).
Given the shifting market we are seeing is it time to talk about real estate?
Please contact me at (760) 840-1360 directly or by text. We’ll review your personal housing needs, timing, lifestyle, budget, and questions. Then we can create a strategy to buy your new San Marcos home.
Are you thinking about selling your San Marcos home? Let’s discuss your plans, the current market conditions affecting your sale, and review a market and equity analysis. And I’ll help you create a plan to sell your home for the best price, terms and conditions.