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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Ambassador
1,757,839
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
473,101
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
606,132
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
446,986
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
Ambassador
1,757,839
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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