If you’re on the lookout for San Marcos, CA real estate to purchase, sell, or invest in, it’s crucial to understand the market climate to guide you in your decision-making and ensure a good deal in your transaction. Below are market trends and insights to help you out.
GENERAL OVERVIEW
The San Marcos, CA real estate market has been steadily climbing in the past years, with home values moving close to $1 million. Realtor.com reports the median price of sold properties in May increasing to $975,000 from the previous month’s $959,000, as well as a 10.17% uptick year-on-year from $885,000. This is an indication of a strong interest in houses for sale in San Marcos CA. Coupled with a historically scarce housing inventory, this is driving home values up, making properties in the city a lucrative investment for the long term.
MARKET CONDITIONS
As of late, the market has been leaning more toward buyers as the housing stock has finally caught up with the demand. Nevertheless, sellers are still enjoying positive returns from their respective investments with homes in San Marcos getting sold for approximately their asking prices in May. Selling time is still relatively fast with homes getting snagged by buyers within a month.
Given the mixed signals, it looks like it’s everybody’s ballgame in the San Marcos real estate market. Both buyers and sellers should put their best foot forward to ensure they get the best deal out of their respective transactions.
HOUSING STOCK
According to NeighborhoodScout.com, the dominant property type you’ll find in San Marcos, CA is single-family homes, making up more than half (50.34%) of the total housing supply. This is followed by condos and apartments (24.41%), plus a sprinkling of mobile homes and townhomes.
Based on the abundance of homes built between 1970 and 1999 (53.5%), one could say that the neighborhoods of San Marcos are well-established but not necessarily historic – although those looking for homes with some vintage charm may still find what they’re looking for here. There are a few homes built earlier than 1939 that are still standing here.
Many homes here are medium-sized, with two to three bedrooms. The ample wiggle room in these spaces is perfect for those raising a family, giving enough room for children to play and grow. Most single-family homes in San Marcos also come with large yards.
IMPLICATIONS AND RECOMMENDATIONS
Now that you have the San Marcos, CA real estate market climate laid out before you, what should be your best move?
As a buyer
- Act quickly. Make sure your financing is in order and be prepared to make a competitive offer when you find a property you love.
- Look at the long-term benefits. The U.S. real estate market in general has been undergoing a slowdown due to some recent economic hits. However, San Marcos has kept its upward movement steady. You have a stable long-term asset in your hands when you add San Marcos real estate to your financial portfolio.
As a seller
- Timing is key. With appreciation rates showing some fluctuations, consider timing your sale when market conditions are most favorable. Make sure to be updated with market movements.
- Be flexible. Make yourself open to discussions on price, closing dates, and any repairs or concessions that might be requested.
- Price your home right. Do your research and ask for a local real estate expert’s advice so that you could come up with a competitive price.
For best results in your home-buying or selling endeavor in San Marcos, CA, it pays to go to the experts for support and guidance. This is what we at Jacobo Realty Group are here for.
Let us know how we could help you. Call 760.632.8900 or send an email today.