What's the Value of My Oceanside Home?
Oceanside Real Estate Market Report for December 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.
In December 2017 there were 178 homes sold in Oceanside’s 4 zip codes (92054, 92056, 92057, 92058), up 24% from November, a contrast from some other coastal communities. Here’s the breakdown of overall activity.
TOTAL HOMES SOLD
178 (up 24%), 29 Days on Market, Ave. Sales Price $507,544 (down 1%), Ave. sale 98% of asking price
Detached Homes Sold
104 (up 27%), 28 Days on Market, Ave. Sales Price $569,389 (down 10%), Ave. sale 98% of asking price
Attached Homes Sold
74 (up 19%), 30 Days on Market, Ave. Sales Price $420,627(up 18%), Ave. sale 98% of asking price
Sales volume increased significantly in December overall, for both detached and attached home sales. We saw a slight decrease in days on market for both detached and attached homes. 20% of the December home sales were cash transactions, compared to 15% last month. Average sale prices decreased for detached homes but increased for attached single family homes.
Buyers, on average, negotiated 2% off asking price, however, 38% of the homes sold for list price or better. The MEDIAN sales price of detached homes was $535,000 (down 7%), and $369,950 (up 9%) for attached/condos.
There were 10 homes with a CONTINGENT status (typically these are properties waiting for approval by short sale or REO lenders), 5% of the total inventory, compared to 22 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 December 2017 there were 215 Oceanside homes for sale, a substantial 29% decrease from November, perhaps not a surprise for the time of year. This represents an inventory of 1 month for detached homes (down from 1.2 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 3 months – the Oceanside market continues to be very competitive and remains a very strong seller’s market.
In December 132 Oceanside homes came on the market, 27% fewer than last month. The number of Oceanside homes going pending also decreased, by 28%, to 114 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, 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!