What's the Value of my Oceanside Home?
The Oceanside real estate market continues to shift. 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 August 2016 there were 241 homes sold in Oceanside’s 4 zip codes (92054, 92056, 92057, 92058), up 16% from July. Here’s the breakdown of overall activity.
TOTAL HOMES SOLD
241 (up 16%), 25 Days on Market, Ave. Sales Price $480,089 (no change), Ave. sale 97% of asking price
Detached Homes Sold
157 (up 11%), 23 Days on Market, Ave. Sales Price $539,828 (down 1%), Ave. sale 97% of asking price
Attached Homes Sold,
84 (up 25%), 28 Days on Market, Ave. Sales Price $368,433 (up 8%), Ave. sale 97% of asking price
Sales volume increased fairly substantially in August overall, especially for attached home sales, and marketing time decreased. 19% of the August home sales were cash transactions, compared to 20% last month. Average sale prices shifted down slightly for detached homes but went up for attached properties.
Buyers, on average, negotiated 3% off asking price but 44% of the homes sold for list price or better. The MEDIAN sales price of detached homes was $525,000 (down 1%), and $315,000 (up 5%) for attached/condos.
There were 22 homes with a CONTINGENT status (properties waiting for approval by short sale or REO lenders), 6% of the total inventory, compared to 23 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 August 2016 there were 351 Oceanside homes for sale, a 2% decrease from July, following 2 months of inventory increases. This represents an inventory of only 1.5 months for detached homes (down from 1.6 months last month) and 1.5 months for attached homes (down from 1.7 months last month) based on the current rate of sales over the last 6 months – the Oceanside market remains very competitive and is a strong seller’s market.
In August 272 Oceanside homes came on the market, 5% fewer than in July. The number of Oceanside homes going pending also decreased by 3% to 218 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, areas or price ranges to help you make an informed decision about your home purchase or sale.