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 February 2017 there were 136 homes sold in Oceanside’s 4 zip codes (92054, 92056, 92057, 92058), up 5% from January, in contrast to a number of other communities where sale volume dropped for February. Here’s the breakdown of overall activity.
TOTAL HOMES SOLD
136 (up 5%), 28 Days on Market, Ave. Sales Price $491,413 (up 2%), Ave. sale 98% of asking price
Detached Homes Sold
88 (up 17%), 28 Days on Market, Ave. Sales Price $560,408 (up 1%), Ave. sale 98% of asking price
Attached Homes Sold,
48 (up 9%), 28 Days on Market, Ave. Sales Price $364,922 (up 2%), Ave. sale 97% of asking price
Sales volume increased in February overall across the board, with a slight decline in days on market as well. 24% of the February home sales were cash transactions, compared to 16% last month. Average sale prices increased slightly for both detached and attached homes.
Buyers, on average, negotiated 2 - 3% off asking price but 48% of the homes sold for list price or better. The MEDIAN sales price of detached homes was $495,000 (down 6% from last month), and $339,500 (up 8%) for attached/condos.
There were 19 homes with a CONTINGENT status (properties waiting for approval by short sale or REO lenders), 8% of the total inventory, the same as 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 February 2017 there were 224 Oceanside homes for sale, a 2% increase from January, the second increase following 5 consecutive declines, which is good news for buyers. This represents an inventory of 1.2 months for detached homes (up from 1.1 months last month) and 1.3 months for attached homes (up from 1.1 months last month) based on the current rate of sales over the last 6 months – the Oceanside market remains quite competitive and is a very strong seller’s market.
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How Important is Inventory when Buying or Selling? Very!!
In February 221 Oceanside homes came on the market, just about the same as last month (223). The number of Oceanside homes going pending also increased, by 36%, to 216 pendings (excluding homes that actually sold in February).
I’m happy to provide more details about the Oceanside real estate market and within specific zip codes, neighborhoods, 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 January 2017
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