What is the Value of My Oceanside Home?
Oceanside Home Sales for July 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 July 2018 there were 245 homes sold in Oceanside’s 4 zip codes (92054, 92056, 92057, 92058), a significant increase from June by 23%. Here’s the breakdown of overall activity.
TOTAL HOMES SOLD
245 (up 23%), 28 Days on Market, Ave. Sales Price $547,921 (up 2%), Ave. sale 98% of asking price
Detached Homes Sold
147 (up 19%), 24 Days on Market, Ave. Sales Price $627,509 (up 7%), Ave. sale 98% of asking price
Attached (condos, town homes) Homes Sold
98 (down 22%), 34 Days on Market, Ave. Sales Price $428,540 (down 6%), Ave. sale 98% of asking price
Sales volume went up significantly in July overall, with an increase in detached home sales but a modest decrease in attached home sales. We saw a modest drop in days on market for detached homes but an increase for attached. 18% of the July home sales were cash transactions, compared to 20% in June. Average sale prices dropped for attached homes but increased for detached single family homes.
Buyers, on average, negotiated 2% off asking price, however, 38% of the homes sold for list price or better. The MEDIAN sales price of detached homes was $595,000 (up 4%), and $360,000 (down 3%) for attached/condos.
There were 20 homes with a CONTINGENT status (often these are properties waiting for approval by short sale or REO lenders, but some homes with this status are sales with a first right of refusal due to contingent offers), 4% of the total inventory, compared to 16 last month. These homes are considered active and are included in the statistics below.
At the end of July 2018 there were 430 Oceanside homes for sale, a 1% increase from June, yet another improvement although small. This represents an inventory of 1.7 months for detached homes (down from 1.9 months last month) and 2.1 months for attached homes (down from 2.4 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 July 299 Oceanside homes came on the market, an increase by 5% from last month. The number of Oceanside homes going pending, however, decreased, by 9%, to 182 pendings (excluding homes that actually sold in July).
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!