What's My Oceanside Home Worth? Oceanside Market Report for March 2020

What's the Value of My Oceanside Home?

Oceanside Real Estate Market Report for March 2020

The Oceanside real estate market continues to evolve. This market report does not include private sales or manufactured, mobile, or multifamily housing; the numbers are taken 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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In March 2020 there were 194 homes sold in Oceanside’s 4 zip codes (92054, 92056, 92057, 92058), an increase from F,ebruary sales by 22%, the second consecutive, and significant, increase. Here’s the breakdown of overall activity.

Detached Homes Sold
113 (up 27%), 21 Days on Market, Average Sales Price $651,495 (up 8%), Average sales price was 99% of original asking price

Attached (condos, town homes) Homes Sold

81 (up 16%), 23 Days on Market, Ave. Sales Price $406,296 (down 7%), Average sales price was 99% of original asking price

Overall sales volume rose substantially in March, with increases in both detached and attached home sales. Average marketing time decreased for both detached and attached homes to about 3 week. 18% of the March home sales were cash transactions, vs. 14% in February. Average sales price increased for detached single family homes but declined for attached homes.

Buyers, on average, negotiated 1% off the original asking price, however, over half of the home buyers (55%) paid full price or better for their homes, a good indication of the competition. The MEDIAN sales price of detached homes was higher than last month at $612,000 (up 6%), and 3% higher for attached homes at $385,000.

There were 13 homes with a CONTINGENT status (often these are properties waiting for approval by short sale or REO lenders, but some homes with this status are sales with a first right of refusal due to contingent offers), compared to 22 last month. These homes are considered active and are included in the statistics below. Most of these homes are sales with first right of refusals due to offers that are contingent, but 5 were short sales, the same ones as last month still waiting for lender approvals.

At the end of March there were 257 Oceanside homes for sale (ranging in price from $227,000 to $3,950,000), a substantial increase in inventory by 26% from last month, the 3rd significant improvement and good news for buyers! This represents a supply of 1.6 months for detached homes (up from 1.2 months last month) and 2.5 months for attached homes (up from 2.1 months last month) based on the current rate of sales over the last 3 months – the Oceanside market remains a very strong seller’s market overall given buyer demand and supply, especially for detached homes.

In March 252 Oceanside homes were listed, 9% more than last month and more good news for buyers. In contrast the number of Oceanside homes going pending decreased, from 189 to 146 (excluding homes that actually closed in March), still a relatively busy month.

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. I invite you to give me a call at (760) 840-1360 to discuss your personal housing needs and budget, and develop a strategy to get you into a new Oceanside home in 2020, and/or sell your current Oceanside home!

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READ MORE:

What’s My Oceanside Home Worth? Oceanside Market Report for February 2020