What is My Oceanside Home Worth? Oceanside Real Estate Market Report for August 2017
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.
Having data from a knowledgeable REALTOR about local market conditions benefits you as a buyer or seller so you can make informed buying or selling decisions about Oceanside homes for sale.
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Oceanside California – A Growing and Changing Coastal San Diego Community
In August 2017 there were 253 homes sold in Oceanside’s 4 zip codes (92054, 92056, 92057, 92058), up 11% from July. Here’s the breakdown of overall activity.
TOTAL HOMES SOLD
253 (up 11%), 24 Days on Market, Ave. Sales Price $511,461 (up 2%), Ave. sale 97% of asking price
Detached Homes Sold
157 (up 16%), 21 Days on Market, Ave. Sales Price $587,384 (up 4%), Ave. sale 98% of asking price
Attached Homes Sold,
96 (up 4%), 29 Days on Market, Ave. Sales Price $384,296 (down 5%), Ave. sale 97% of asking price
Sales volume increased in August overall, for both detached and attached home sales. We saw a slight increase in days on market across the board. 22% of the August home sales were cash transactions, compared to 17% last month. Average sale prices decreased modestly for attached homes but shifted up for detached single family homes.
Buyers, on average, negotiated 2 - 3% off asking price, however, 41% of the homes sold for list price or better. The MEDIAN sales price of detached homes was $551,000 (down 1%), and $328,000 (down 5%) for attached/condos.
There were 26 homes with a CONTINGENT status (typically these are properties waiting for approval by short sale or REO lenders), 8% of the total inventory, compared to 13 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. Homes in contingent status can sometimes remain on the market for a number of months awaiting lender approval.
At the end of August 2017 there were 309 Oceanside homes for sale, a 9% increase from July. This represents an inventory of 1.4 months for detached homes (up from 1.3 months last month) and 1.5 months for attached homes (the same as last month) based on the current rate of sales over the last 6 months – the Oceanside market remains quite competitive and remains a very strong seller’s market.
In August 273 Oceanside homes came on the market, 7% more than last month. The number of Oceanside homes going pending increased again modestly, by 2%, to 235 pendings (excluding homes that actually sold in August).
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. Why not give me a call at (760) 840-1360 so we can discuss your particular housing needs and budget, and develop a strategy to get you into a new Oceanside home in 2017, or to sell your current home!
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READ MORE:
What’s My Oceanside Home Worth? Oceanside Market Report July 2017
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