What's 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.
In December 2016 there were 176 homes sold in Oceanside’s 4 zip codes (92054, 92056, 92057, 92058), down 3% from November, a pattern we have seen in other North San Diego County communities. Here’s the breakdown of overall activity.
TOTAL HOMES SOLD
176 (down 3%), 36 Days on Market, Ave. Sales Price $470,891 (up 5%), Ave. sale 95% of asking price
Detached Homes Sold
107 (up 2%), 39 Days on Market, Ave. Sales Price $530,960 (up 1%), Ave. sale 97% of asking price
Attached Homes Sold,
69 (down 10%), 30 Days on Market, Ave. Sales Price $377,742 (up 12%), Ave. sale 93% of asking price
Sales volume decreased in December overall across the board, but with more detached home sales and fewer attached sales. 24% of the December home sales were cash transactions, compared to 19% last month. Average sale prices increased slightly for detached homes but more significantly for attached homes.
Buyers, on average, negotiated 3 - 7% off asking price but 28% of the homes sold for list price or better. The MEDIAN sales price of detached homes was $502,000 (down 2% from last month), and $329,000 (up 6%) for attached/condos.
There were 17homes with a CONTINGENT status (properties waiting for approval by short sale or REO lenders), 9% of the total inventory, compared to 16 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 December 2016 there were 198 Oceanside homes for sale, a 20% decrease from November, and the 5th consecutive decline. This represents an inventory of less than 1 month for detached homes (down from 1.1 months last month) and less than 1 month 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 very strong seller’s market.
In December 111 Oceanside homes came on the market, 38% fewer than in November. The number of Oceanside homes going pending also decreased, by 31% to 121 pendings (excluding homes that actually sold in December).
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.