What's the Value of My Oceanside Home?
Oceanside Real Estate Market Report for March 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 March 2018 there were 218 homes sold in Oceanside’s 4 zip codes (92054, 92056, 92057, 92058), up a substantial 69% from February following 2 months of decline. Here’s the breakdown of overall activity.
TOTAL HOMES SOLD
218 (up 69%), 26 Days on Market, Ave. Sales Price $518,420 (down 2%), Ave. sale 98% of asking price
Detached Homes Sold
127 (up 55%), 20 Days on Market, Ave. Sales Price $588,904 (up 1%), Ave. sale 99% of asking price
Attached Homes Sold
91 (up 94%), 35 Days on Market, Ave. Sales Price $420,051 (down 1%), Ave. sale 97% of asking price
Sales volume increased significantly in March for both detached and attached home sales. We saw a decrease in days on market for both as well. 22% of the March home sales were cash transactions, versus 26% last month. Average sale prices increased slightly for detached homes but dropped a little for attached homes.
Buyers, on average, negotiated 1 - 3% off asking price, however, almost half (48%) of the homes sold for list price or better. The MEDIAN sales price of detached homes was $569,000 (up 5%), and $365,000 (up 1%) for attached/condos.
There were 17 homes with a CONTINGENT status (typically these are properties waiting for approval by short sale or REO lenders), 6% of the total inventory, compared to 15 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 March 2018 there were 305 Oceanside homes for sale, a 36% increase from February. This represents an inventory of 1.7 months for detached homes (up from 1.2 months from last month) and 2.1 months for attached homes (up from 1.8 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 March 283 Oceanside homes came on the market, 34% more than last month - that's 9 homes per day! The number of Oceanside homes going pending, however, decreased, by 6%, to 195 pendings (excluding homes that actually sold in March).
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!