What's the Value of My Oceanside Home?
Oceanside Real Estate Market Report for June 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 June 2018 there were 200 homes sold in Oceanside’s 4 zip codes (92054, 92056, 92057, 92058), a decrease from May by 3%. Here’s the breakdown of overall activity.
TOTAL HOMES SOLD
206 (down 3%), 31 Days on Market, Ave. Sales Price $537,958 (down 1%), Ave. sale 98% of asking price
Detached Homes Sold
124 (down 6%), 30 Days on Market, Ave. Sales Price $587,219 (down 5%), Ave. sale 98% of asking price
Attached (condos, town homes) Homes Sold
76 (up 3%), 31 Days on Market, Ave. Sales Price $456,586 (up 9%), Ave. sale 97% of asking price
Sales volume decreased slightly in June overall, with a decline in detached home sales but a modest increase in attached home sales. We saw an increase in days on market for both attached and detached homes. 20% of the June home sales were cash transactions, the same as in May. Average sale prices dropped for detached homes but increased for attached homes.
Buyers, on average, negotiated 2 - 3% off asking price, however, 42% of the homes sold for list price or better. The MEDIAN sales price of detached homes was $572,500 (down 4%), and $370,000 (down 1%) for attached/condos.
There were 16 homes with a CONTINGENT status (typically these are properties waiting for approval by short sale or REO lenders), 4% of the total inventory, compared to 11 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 June 2018 there were 427 Oceanside homes for sale, a 19% increase from May, yet another improvement. This represents an inventory of 1.9 months for detached homes (up from 1.6 months last month) and 2.4 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 June 284 Oceanside homes came on the market, just about the same as last month (285). The number of Oceanside homes going pending, however, increased, by 4%, to 201 pendings (excluding homes that actually sold in June).
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, review any questions, and develop a strategy to get you into a new Oceanside home in 2018, or to create a plan to sell your current home!