San Marcos Homes for Sale -

What Happened in the San Marcos Real Estate Market in January 2012?

The San Marcos real estate market continues to evolve, especially with the large number of distress sales. These data do not include any private sales nor manufactured housing; the numbers are derived from the MLS and are believed to be accurate but are not guaranteed.

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Media reports tend to speak in general terms, rather than local, so their information will not likely represent the reality of our local San Marcos real estate market. Having information about local market conditions benefits you as the buyer or seller when making decisions about buying and selling.

In January 2012 there were 75 homes sold in San Marcos’ 2 zip codes (92069 and 92078), down 35% from December. Here’s the breakdown of overall activity.

	TOTAL	DETACHED	ATTACHED
# Sold	75 (down 35%)	46 (down 48%)	29 (up 7%)
Ave. $	$330,520 (down 10%)	$399,177 (down 2%)	$221,616 (down 6%)
DOM	89	82	99
List $/Sale $	98%	99%	98%

Sales volume decreased significantly for detached single family homes in San Marcos, but rose modestly for attached properties. Average sales prices shifted up modestly for detached homes but declined for attached. Buyers are not negotiating much on their purchases, getting only 1-2% off the asking price on average.

There were 143 San Marcos homes for sale at the end of January with a Contingent status, i.e., homes with offers awaiting approval from the short sale and REO lenders. These homes are included in the overall Active stats since they are still considered active until the approvals are obtained.

The San Marcos real estate market tightened further in January - at the end of January 2012 the San Marcos real estate market had 357 homes for sale (40% are contingent), 3% fewer than at the end of December, another decline although modest.

This represents an inventory of 3.5 months for attached homes (down from 3.7 months) and 4 months for detached (up from 3.9 months) based on the current rate of sales over the last 6 months. The San Marcos real estate market remains highly competitive for buyers and is trending more toward a seller’s market overall, with the lowest absorption rates for the North San Diego County coastal communities!

And good news for sellers is that homes are not taking long to sell, on average about 3 months.

READ MORE: How Important is Inventory when Buying or Selling? Very!!

In January 2012 we saw 111 homes come on the market, 13% more than last month. The number of homes going pending in January (83) increased by 26% from last month’s pendings.

This overview of the San Marcos real estate market is based on information provided by the MLS for homes that went under contract in the last couple of months and closed in January. More details can be provided if needed with regard to current activity as well as within the specific zip codes of San Marcos (92078 and 92069).

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