What is the Value of My Oceanside Home?
The Oceanside real estate market 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, and not 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 so informed decisions about Oceanside homes for sale can be made.
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Oceanside California – A Growing and Changing Coastal San Diego Community
In November 2016 there were 182 homes sold in Oceanside’s 4 zip codes (92054, 92056, 92057, 92058), down 17% from October, a pattern we have seen in other North San Diego County communities. Here’s the breakdown of overall activity.
TOTAL HOMES SOLD
182 (down 17%), 25 Days on Market, Ave. Sales Price $446,872 (down 7%), Ave. sale 95% of asking price
Detached Homes Sold
105 (down 27%), 24 Days on Market, Ave. Sales Price $527,828 (down 2%), Ave. sale 97% of asking price
Attached Homes Sold,
77 (up 7%), 27 Days on Market, Ave. Sales Price $336,477 (down 8%), Ave. sale 98% of asking price
Sales volume increased in November overall across the board, but with fewer detached home sales but more attached sales. 19% of the November home sales were cash transactions, compared to 18% last month. Average sale prices declined modestly for detached as well as attached homes.
Buyers, on average, negotiated 2 – 5% off asking price but 42% of the homes sold for list price or better. The MEDIAN sales price of detached homes was $510,000 (the same as last month), and $310,000 (down 5%) for attached/condos.
There were 16 homes with a CONTINGENT status (properties waiting for approval by short sale or REO lenders), 7% of the total inventory, compared to 19 last month. These homes are considered active and are included in the statistics below. Some homes with this status may still allow showings or back-up offers.
At the end of November 2016 there were 246 Oceanside homes for sale, a 15% decrease from October, and the 4th consecutive decline. This represents an inventory of only 1.1 months for detached homes (down from 1.2 months last month) and 1.1 months for attached homes (down from 1.1 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 November 179 Oceanside homes came on the market, 10% fewer than in October. The number of Oceanside homes going pending also decreased, by 18% to 176 pendings (excluding homes that actually sold in November).
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
READ MORE:
What’s My Oceanside Home Worth? Oceanside Market Report October 2016
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