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What’s UP and What’s DOWN in the San Marcos CA Housing Market

What’s UP and What’s DOWN in the San Marcos CA Housing Market
Speaker 1:
So if you own house in San Marcos, you want to know what’s going on in the market right now in November of 2022. That’s where we’re getting into today. Price sales and predictions lets you know some things we’re seeing less of and some things we’re seeing more of. Let you know exactly what’s happening specifically in the southern portion of San Marcos, 902078, Discovery Hills, Lake San Marcos, and San Elijo Hills, which were some of the hottest markets during this last little run we had over the past few years.

So a few things we’re seeing less of, number one being less new homes on the market. There were more homes during October last year than there are this year. But there’s also less pending sales or less homes in escrow or going under contract. And there’s also a less number of closed sales. A lot of those numbers of pending and closed sales being less, there’s also less buyers out there. A lot of that is due to the higher interest rates. So we’re seeing a lot of people being priced out of what they could afford even a few months ago compared to where we’re sitting at right now.

Speaker 2:
Some things that we’re seeing more of, the big one is days on market. Houses are staying on the market longer; way longer than they have been in the last few months. So that is definitely something that is also driving more inventory. So even though there’s less houses coming on the market, there’s still more that have been sitting, which is just adding to more choices. And what this is causing, and we’re seeing a lot of, is more price reductions. We’re seeing a lot of homes have 1, 2, 3 price reductions before they’re getting into escrow. We’re also seeing more folks take their houses off the market because they’re not getting what they want. So it makes price even more important and unusual. It is one of the most important things anyway, but when it’s a hot market and it’s you’re getting all those multiple offers, it’s not as big of a deal, now it’s even more of a important part of marketing your home is getting that perfect price set right at the beginning.

Speaker 1:
Homes are still selling, by the way. So if you are thinking about selling, homes are still selling every day. We’re seeing homes go pending in all these little neighborhoods. If you guys are thinking about selling, you want some more information, hit us up. Call, text, email, that number that is popping up right now. It’s never too early to start that conversation. Even if you’re looking to go into 2023 sometime in the new year let’s talk and see what’s going on. And if you want to learn more and see a little bit more in depth what’s happening right here in San Marcos, hit us up. Click that learn more button. We got your back one moving in around North County, San Diego.
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