San Marcos Homes for Sale - What Happened in the San Marcos Real Estate Market in July 2012?

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Real Estate Agent with Solutions Real Estate CA BRE Lic #01490977

San Marcos Homes for Sale - What Happened in the San Marcos Real Estate Market in July 2012?

 

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

 

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 San Marcos homes for sale.

 

 

READ MORE:

 

 San Marcos - A Thriving Inland Residential Community

 

San Elijo Hills – Award-Winning Master Planned Community in San Marcos

 

Lake San Marcos – Resort and Residential Community in San Marcos, CA

 

In July 2012 there were 102 homes sold in San Marcos’ 2 zip codes (92069 and 92078), down 12% from June, the 2nd consecutive decline. Here’s the breakdown of overall activity.

 

 

TOTAL

DETACHED

ATTACHED

# Sold

102 (down 6%)

72 (down 14%)

30 (down 6%)

Ave. $

$389,802 (up 1%)

$447,377 (up 7%)

$251,623 (up 3%)

DOM

60

66

46

List $/Sale $

99%

98%

99%

 

Sales volume declined from June, the 2nd month in a row, while average sales prices rose for the second time. DOM also dropped. Buyers are not negotiating much on their purchases, getting only 1- 2% on average off the asking price.

 

San Marcos homes for Sale - Homes for Sale in San Marcos  San Marcos homes for Sale - Homes for Sale in San Marcos

 

There were 153 San Marcos homes for sale at the end of July 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 inventory declined slightly, by 1%, in July, the 5th  consecutive decline - at the end of July 2012 the San Marcos real estate market had 306 homes for sale (50% are contingent).

 

This represents an inventory of 2.9 months for attached homes (down from 3.1 months last month) and 3.1 months for detached (up from 2.9 months) based on the current rate of sales over the last 6 months. The San Marcos real estate market continues to be competitive for buyers!

 

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

 

In July 2012 we saw 134 homes come on the market, 8% fewer than last month. The number of homes going pending in July (104) also decreased, by 10% from last month’s pendings, another decline.

 

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 July. 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).

 

Search for San Marcos Homes for Sale

Search for Lake San Marcos Homes for Sale

 

READ MORE:

San Marcos Homes for Sale – What Happened in the San Marcos Real Estate Market in June 2012?

San Marcos Homes for Sale – What Happened in the San Marcos Real Estate Market in May 2012?

San Marcos Homes for Sale – What Happened in the San Marcos Real Estate Market in April 2012?

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Topic:
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Rainmaker
192,181
Brian Kuhns
Fort Wayne Real Estate by Brian Kuhns
Coldwell Banker Roth Wehrly Graber

great percentage of list price numbers and with Sales prices increasing those sold numbers will probably follow...although it looks as if San Marcos has a pretty small inventory currently anyway. Nice report, thanks for posting

August 06, 2012 05:26 PM
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George Souto
Your Connecticut Mortgage Expert
George Souto NMLS #65149 FHA, CHFA, VA Mortgages Connecticut

Jeff two out of three ain't bad.  Now if you can just get the number of sales to move in a positive direction like the average sales price and DOM.

August 06, 2012 05:29 PM
Ambassador
896,941
Andrea Swiedler
Realtor, Southern Litchfield County CT
Berkshire Hathaway HomeServices New England Properties

Jeff, fantastic market report, your explanation of what is going on should be clear to both a buyer AND a seller. The good news seems to be the amount of homes on the market is also declining. Your absorption rate is far better than ours here.

August 06, 2012 05:47 PM
Rainmaker
773,749
Mike Cooper
Your Winchester, VA Real Estate Pro
Winchester Real Estate Sales, Cornerstone Business Group Inc

Jeff, those list to sale numbers are awesome!  Your DOMs are pretty consistent with our area.  Overall, it looks like your market is following a similar pattern as the Shenandoah Valley.   That's good news.  

August 06, 2012 05:49 PM
Rainmaker
1,228,679
Michelle Gibson
REALTOR
Hansen Real Estate Group Inc.

Jeff - Excellent real estate market report for San Marcos and congrats on the feature!

August 06, 2012 07:00 PM
Rainmaker
1,033,401
Joan Whitebook
Consumer Focused Real Estate Services
BHG The Masiello Group

Jeff a very intereting market report.  I really learn so much about the real estate market from reading posts like this. Thanks for the information and hopefully, we will start to see more and more positive news.

August 06, 2012 07:36 PM
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Melissa Zavala
Broker, Escondido Real Estate, San Diego County
Broadpoint Properties

What I see here is pretty much what I feel is the current status of our local market--lots of competition and prorperties selling for at or above market value.

August 06, 2012 09:27 PM
Rainmaker
536,368
Lynda Eisenmann
Broker-Owner,CRS,CDPE,GRI,SRES, Brea,CA, Orange Co
Preferred Home Brokers

Hi Jeff,

Nicely done showcasing beautiful San Marcos. Looks like a very active/healthy market, and like so many areas of Southern Cal it further demonstrates the overall decline in inventory.

August 06, 2012 10:23 PM
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William Johnson
San Diego Real Estate Voice, GRI CRS e-Pro CDPE
RE/MAX Associates
Hi Jeff, All in all not a bad report and expect that things will level out a bit more in August. I think the Fall this year may show a surprising increase over the trend.
August 06, 2012 10:40 PM
Rainmaker
891,596
Michael Setunsky
Your Commercial Real Estate Link to Northern VA
Michael's Commercial LLC

Jeff, very nice market report for the San Marcos area. Nice looking homes.

August 07, 2012 06:30 AM
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Jeff Dowler CRS
Carlsbad CA Homes for Sale (760) 840-1360
Solutions Real Estate

Brian - San Marcos has been pretty competitive for some time. They've also had a pretty significant percentage of distressed home sales. But with lower prices than right along the coast sales have been pretty strong.

George - workin' on it. Actually a couple months ago sales were increasing and prices dropping some.

Andrea - and it's been there for some time. Thanks for the compliment

Mike - and good for you, too! Seems we are seeing similar patterns in a number of areas. Next month will be different I suspect - we're in the peak of the summer which usually slows a bit.

Jeff

August 07, 2012 06:38 AM
Rainmaker
494,819
Chris and Dick Dovorany
Broker/Associate at Premiere Plus Realty
Homes for Sale in Naples, Bonita Springs and Estero, Florida

Very nice report.  You have described things very well and easily understandable for those who are not necessarily in the real estate business.  Good job.

August 07, 2012 09:16 AM
Rainmaker
655,515
Pamela Seley, REALTOR®
Menifee Lakes California Real Estate
REALTY EXECUTIVES OTF

Jeff, I remember there was a time a home buyer could buy a home for under $200,000 in San Marcos. Great detailed market report, have a great week,

August 07, 2012 10:33 AM
Rainmaker
449,171
Tim Maitski
The Agent Who Uses "Watermelon Tough" Sign Posts
Atlanta Communities Real Estate Brokerage
Jeff, What was the price at the peak of the bubble? How far have prices dropped?
August 07, 2012 06:55 PM
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Jeff Dowler CRS
Carlsbad CA Homes for Sale (760) 840-1360
Solutions Real Estate

Michelle - thanks. It was a surprise!

Joan - well I think it helps us all learn more about the market, as well as different ways to present data

Melissa - yup, I agree

Lynda - we are seeing it all over

William - we'll see. With it being summer I would expect things may simmer down a bit then pick up again after Labor Day

Thanks, Michael

Chris and Dick - glad to hear that. I think sometimes we present data that is too hard for those not in the industry to understand

Pamela - yep, and then it went the other direction.

Tim - great question. Average price in 2006, the peak here, for detached homes in Sam Marcos was $626,298. We are are looking at, on average, a shift down by about 29% since the peak. And things have improved, since average prices have come up 8% since 2011

Jeff

August 07, 2012 07:55 PM
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Jeff Dowler CRS

Carlsbad CA Homes for Sale (760) 840-1360
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