San Marcos Real Estate Market Update

San Marcos Real Estate Market Data

As of January 23, 2014

In this informative video, you’ll get the latest news in San Marcos Real Estate activity with this real estate market update video from Michael Gaddis, J.D. Realty Group. If you are thinking of buying or selling a home in San Marcos this information will help you know how to price your home correctly or plan a strategy in making an offer in the current market. Look for updated real estate updates in San Marcos bi-monthly. For help with all your North County San Diego real estate needs call 760.487.8266 or email contact@michaelgaddis.com to let us know your situation.

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January San Marcos Real Estate Market Update Video Transcript

**This video was automatically transcribed by YouTube, please excuse any errors.

Hi, I’m Michael Gaddis your San Marcus real estate expert. Today I’d like to give you a market analysis our current market conditions report  for San Marcos as a January 17 2014. I pulled all the active contingent, pending, and sold listings off the market with the sold listings range from December 1st to January 17  so all the data that i’m gonna be telling you about was pulled using those criteria. Currently there are 104 active listings on the market  and San Marcos the average listing  on the market is for 2,646 square feet  the average list price currently for the active listings $720,000  the average list price per square foot is 271 dollars, and the average days on market is sixty so sixty days on market:  so far average on  right now the t days on market: probably a little bit more extended than usual. We just went through the holidays in the winter time in wintertime is  traditionally a slower time  so it’s not an unusual number.

Currently there are 22 contingent listings  in San Marcos. Contingent listings are usually referred a  short sales. Contingent means there some sort of approval is required whether it be lender approval  but most the time its it is a lender approval so  with these numbers refer typically to short sales  so as far as the contingent listings are concerned the average  contingent listing square footages 2,382 square feet and the average list price  for these as  $484,601. The average list price per square foot is 211 dollars  41 cents and the average days on market is a hundred and fifty seven days  now the thing you’ll notice is there’s a big difference between the  list price per square foot for the active listings and for the contingent  listings and contingent listings are short sales again so usually they’re sold  are listed at a lower price than traditional or equity sales for many reasons but in general that average list price per square foot in the contignet listings  doesn’t necessarily reflect what is actually gonna sell for. It doesn’t mean that once it’s approved the bank won’t come back and counter or that will eventually raise what’s called the sole price per square foot. So, it’s nothing to panic after that number is significantly lower than the active listings.

I’ll  show you as we talk about pending listings now that all why that is there are currently seventy four pending listings in San Marcos real estate on the average square foot  in San Marcos is 2500 eighty square feet for a pending listing.  The average list price for a pending listing a 604,501 dollars the list price per square foot for  a house in San Marcos is 244 dollars per square foot and the average days on  market is forty seven days.  If you look at that the pending listings our listings that are currently in escrow they’re getting ready to close their in the closing process so 16 intention listing gets approved it loose from contingent depending so, even though the continued listing price per square foot is $211 you’ll  notice that the list price per square foot for the pending listings  is 244 dollars which is about thirty dollars per square higher than what the contingent listings are.

That brings us to the sold listings which holds with the real price per square foot has been amid you know this is the actual number that people have paid and the deals that have gone through.  There are currently 75. 75 homes were sold between December 1st  and January 17 and the average price per square foot for the price the houses that sold in San Marcos was two thousand 196 per  on a square feet the average list price was 536,000  for those listings the average list price per square  that was 253 doubt archer fifty three dollars  so but that number is not a sir the important numbers important was not the  list price per square foot but the sold price per square foot. So the average sold price was $527,000 the average sold price per square foot …. drum roll, two hundred fifty dollars per square foot  so its more consistent with the current that two hundred fifty dollars per  square foot for the sold listings in January I mean I’m  in December and January is very consistent with the  up list price per square foot the pending listings  and it’s a little lower than the active listings but you can see that the number  is significantly higher than where the list price per square foot for the  contingent listings are.

Sometimes people like to know what the most expensive  house that sold was in during this time frame the most expensive house that sold  in San Marcos was at  Costa del Sur  on and it sold for 989 thousand five hundred dollars.  Actually, I’m sorry, that was the list price: the actual sales price for that  house was nine hundred and forty four thousand so  the list price was nine $89,500 the sold price 944  nah closed on December 31st up 2013 so  on that was the most expensive home that sold during the time period that I pull  so again this is Michael Gaddis I am your local San Marcos real estate expert  if you have any more questions or comments or would like to contact me in  any way  you can call me at area code 760 692  5950 760 692  5950 you can visit me on my website at www Michael Gaddis dot com  or you can on just stop by my office my office and not too far I’m in Carlsbad  of a brushy ranch towers a pressie ranch I am 6104 innovation way  and you can just stop by and say hello or ask me whatever question you’d like  so again thank you for taking the time to listen to the San Marcos  real state a market update and I look forward to seeing you and meeting in the future thank you.

 

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