What's the Value of My Oceanside Home?
Oceanside Real Estate Market Report for August 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 August 2018 there were 226 homes sold in Oceanside’s 4 zip codes (92054, 92056, 92057, 92058), a decrease from July by 8%. Here’s the breakdown of overall activity.
TOTAL HOMES SOLD
226 (down 8%), 49 Days on Market, Ave. Sales Price $556,020 (up 1%), Ave. sale 97% of asking price
Detached Homes Sold
131 (down 11%), 59 Days on Market, Ave. Sales Price $617,210 (down 2%), Ave. sale 97% of asking price
Attached (condos, town homes) Homes Sold
95 (down 3%), 35 Days on Market, Ave. Sales Price $471,091 (up 10%), Ave. sale 97% of asking price
Sales volume dropped in August overall, and for both detached home sales but less so for attached sales. We saw a fairly significant increase in days on market for detached homes. 19% of the August home sales were cash transactions, compared to 18% in July. Average sale prices dropped for detached homes but increased for attached single family homes.
Buyers, on average, negotiated 3% off asking price, however, 31% of the homes sold for list price or better. The MEDIAN sales price of detached homes was $568,000 (down 5%), and $370,000 (up 3%) for attached/condos.
There were 21 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), 5% of the total inventory, compared to 20 last month. These homes are considered active and are included in the statistics below.
At the end of August 2018 there were 463 Oceanside homes for sale, an 8% increase from July, yet another improvement in inventory (and up 86% since January). This represents an inventory of 1.9 months for detached homes (up from 1.7 months last month) and 2.1 months for attached homes (the same as 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 August 317 Oceanside homes came on the market, an increase by 6% from last month. The number of Oceanside homes going pending also increased, by 23%, to 223 pendings (excluding homes that actually sold in August).
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!