What's 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.
In September 2016 there were 211 homes sold in Oceanside’s 4 zip codes (92054, 92056, 92057, 92058), down 12% from August. Here’s the breakdown of overall activity.
TOTAL HOMES SOLD
211 (down 12%), 30 Days on Market, Ave. Sales Price $495,563 (up 3%), Ave. sale 96% of asking price
Detached Homes Sold
142 (down 10%), 28 Days on Market, Ave. Sales Price $532,428 (down 1%), Ave. sale 96% of asking price
Attached Homes Sold,
69 (down 18%), 34 Days on Market, Ave. Sales Price $419,697 (up 14%), Ave. sale 96% of asking price
Sales volume decreased in September overall, an in particular for attached home sales, and marketing time increased. 20% of the September home sales were cash transactions, compared to 19% last month. Average sale prices shifted down slightly for detached homes but went up for attached properties.
Buyers, on average, negotiated 4% off asking price but 35% of the homes sold for list price or better. The MEDIAN sales price of detached homes was $498,000 (down 5%), and $330,000 (up 5%) for attached/condos.
There were 22 homes with a CONTINGENT status (properties waiting for approval by short sale or REO lenders), 9% of the total inventory, compared to 20 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 September 2016 there were 318 Oceanside homes for sale, a 9% decrease from August, and the 2nd decline following 2 months of inventory increases. This represents an inventory of only 1.3 months for detached homes (down from 1.5 months last month) and 1.4 months for attached homes (down from 1.5months 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 September 226 Oceanside homes came on the market, 17% fewer than in August. The number of Oceanside homes going pending also decreased, but only slightly, by 2% to 214 pendings (excluding homes that actually sold in September).
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.