What's the Value of My Oceanside Home?
Oceanside Real Estate Market Report for April 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 April 2018 there were 202 homes sold in Oceanside’s 4 zip codes (92054, 92056, 92057, 92058), a modest drop from March by 7% following a large increase from February. Here’s the breakdown of overall activity.
TOTAL HOMES SOLD
202 (down 7%), 24 Days on Market, Ave. Sales Price $521,501 (down 1%), Ave. sale 99% of asking price
Detached Homes Sold
110 (down 13%), 18 Days on Market, Ave. Sales Price $580,904 (down 2%), Ave. sale 97% of asking price
Attached Homes Sold
92 (up 1%), 30 Days on Market, Ave. Sales Price $451,533 (up 7%), Ave. sale 98% of asking price
Sales volume decreased in April for detached but rose slightly for attached home sales. We saw a decrease in days on market across the board. 23% of the April home sales were cash transactions, versus 22% last month. Average sale prices decreased slightly for detached homes but increased modestly for attached homes.
Buyers, on average, negotiated 1 - 3% off asking price, however, almost half (49%) of the homes sold for list price or better. The MEDIAN sales price of detached homes was $565,000 (down 1%), and $365,000 (no change) for attached/condos.
There were 11 homes with a CONTINGENT status (typically these are properties waiting for approval by short sale or REO lenders), 3% of the total inventory, compared to 17 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 April 2018 there were 336 Oceanside homes for sale, a 10% increase from March. This represents an inventory of 1.6 months for detached homes (down from 1.7 months from last month) and 2 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 April 277 Oceanside homes came on the market, down slightly by 2% from last month. The number of Oceanside homes going pending, however, increased, by 4%, to 203 pendings (excluding homes that actually sold in April).
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 for top dollar and as quickly as possible!