What's the Value of my Oceanside Home?
The Oceanside real estate market has undergone many shifts and continues to evolve. This market report does not include private sales nor manufactured, mobile or multifamily housing; the numbers are derived from the MLS and are believed to be accurate at the time this report was written, but are not guaranteed.
Media reports speak in general terms, so information does not represent the reality of the local Oceanside housing market. Having data from a knowledgeable REALTOR about local market conditions benefits you as a buyer or seller for making informed decisions about Oceanside homes for sale.
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Oceanside California – A Growing and Changing Coastal San Diego Community
In May 2016 there were 227 homes sold in Oceanside’s 4 zip codes (92054, 92056, 92057, 92058), down 10% from April. Here’s the breakdown of overall activity.
TOTAL HOMES SOLD
227 (down 10%), 28 Days on Market, Ave. Sales Price $459,272 (down 3%), Ave. sale 97% of asking price
Detached Homes Sold
145 (down 3%), 26 Days on Market, Ave. Sales Price $517,203 (down 7%), Ave. sale 98% of asking price
Attached Homes Sold,
82 (down 23%), 33 Days on Market, Ave. Sales Price $356,834 (up 5%), Ave. sale 97% of asking price
Sales volume decreased modestly in May overall, but in particular for attached home sales. 21% of the May home sales were cash transactions, compared to 26% last month. Average sale prices shifted up as well for attached homes but dropped for detached properties. Average time on market declined slightly for both detached and attached homes.
Buyers, on average, negotiated 2 - 3% off asking price but 41% of the homes sold for list price or better. The MEDIAN sales price of detached homes was $515,000 (no change), and $300,000 (no change) for attached/condos.
At the end of May 2016 there were 291 Oceanside homes for sale, a 2% decrease from April, the second but modest decline. This represents an inventory of only 1.4 months for detached homes (down from 1.5 last month) and 1.5 months for attached homes (down from 1.6 months last month) based on the current rate of sales over the last 6 months – the Oceanside market remains very competitive and is a strong seller’s market.
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How Important is Inventory when Buying or Selling? Very!!
In May 283 Oceanside homes came on the market, an increase of 12% from last month. The number of Oceanside homes going pending also increased, by 2%, from last month, with 229 pendings (excluding homes that actually sold in May).
I’m happy to provide more details about the Oceanside real estate market and within specific zip codes, areas or price ranges to help you make an informed decision about your home purchase or sale.
SEARCH FOR OCEANSIDE HOMES FOR SALE
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What’s My Oceanside Home Worth? Oceanside Market Report April 2016
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