San Marcos, CA Real Estate Market Report for February 2010
With March upon us, it’s time to look at San Marcos real estate sales during the month of February and think about where the San Marcos real estate market is headed. But before we get to those finite numbers, it must first be said that the San Marcos real estate market is changing quickly, and what may be evident now may not be the case for March.
I guess we’ll have to wait until April to really know how things are shaping up in the first quarter of 2010.
The San Marcos Real Estate Numbers
In February, a total of 64 homes sold in the San Marcos community zip codes 92069 and 92078. The average sale price was $413,169 for single family homes. The average sale price was $280,812 for Attached homes. Now, here is the interesting part: In February 2009, 91 homes sold, but the average sale price was $338,614. While we have seen a 29.7 drop in sales volume, we also see a small increase in average sale price.
The average number of days on the market remained consistent between the two years with 74 days being the average in February 2009 and70 days being in the average in February 2010.
This data does 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. 
California Foreclosure Statistics
A big influence in San Marcos and neighboring communities’ home sales are foreclosure rates. According to ForeclosureRadar.com, a company that tracks every foreclosure in California, San Diego County saw 1,861 notices of default in January 2010, which is down from 2,031 in December 2009 and down from 3,046, which was seen in January 2009. With fewer business days in January 2010 than December 2009 this number may not be too revealing, but it does show that fewer notices were issued in 2010 than in 2009.
However, delinquent payments continue to rise, which according to ForeclosureRadar means the “foreclosure problem will be with us for many years to come.”
Still Time to Buy
With home prices rising, now is the time to consider a home purchase in San Marcos and surrounding areas. Keep your eyes on short sales and other distressed properties to find your ideal home. We are still in a buyers market. more on that in the next post
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