What's the Value of My Oceanside Home?
Oceanside Real Estate Market Report for February 2018
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.
In February 2018 there were 129 homes sold in Oceanside’s 4 zip codes (92054, 92056, 92057, 92058), down by 12% from January, the second decline. Here’s the breakdown of overall activity.
TOTAL HOMES SOLD
129 (down 12%), 33 Days on Market, Ave. Sales Price $526,424 (up 3%), Ave. sale 98% of asking price
Detached Homes Sold
82 (down 11%), 29 Days on Market, Ave. Sales Price $584,487 (up 3%), Ave. sale 98% of asking price
Attached Homes Sold
47 (down 13%), 40 Days on Market, Ave. Sales Price $425,123 (up 1%), Ave. sale 98% of asking price
Sales volume decreased significantly in February for both detached and attached home sales. We saw a slight decrease in days on market for detached homes but an increase for attached homes. 26% of the February home sales were cash transactions, versus 20% last month. Average sale prices increased slightly for both detached homes and attached homes.
Buyers, on average, negotiated 2% off asking prices; however, 41% of the homes sold for list price or better. The MEDIAN sales price of detached homes was $539,999 (down 5%), and $359,999 (up 4%) for attached/condos.
There were 15 homes with a CONTINGENT status (typically these are properties waiting for approval by short sale or REO lenders), 7% of the total inventory, compared to 12 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 may remain on the market for months awaiting lender approval.
At the end of February 2018 there were 225 Oceanside homes for sale, a 10% decrease from January following a big increase from December.
This represents an inventory of 1.2 months for detached homes (no change from last month) and 1.8 months for attached homes (down 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.
In February 211 Oceanside homes came on the market, 9% fewer than last month. The number of Oceanside homes going pending, however, increased substantially, by 19%, to 208 pendings (excluding homes that actually closed in February).
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 2018, or to sell your current home!