What's the Value of My Oceanside Home?
Oceanside Real Estate Market Report for November 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 November 2018 there were 163 homes sold in Oceanside’s 4 zip codes (92054, 92056, 92057, 92058), a decrease from October by 17%. Here’s the breakdown of overall activity.
Detached Homes Sold
91 (down 19%), 33 Days on Market, Ave. Sales Price $568,404 (down 8%), Ave. sale 96% of asking price
Attached (condos, town homes) Homes Sold
72 (down 14%), 44 Days on Market, Ave. Sales Price $402,204 (down 11%), Ave. sale 96% of asking price
Sales volume declined in November overall, with both fewer detached and attached home sales. Marketing time decreased for detached homes but increased for attached. 23% of the November home sales were cash transactions, compared to 20% in October. Average sale prices dropped for both detached homes and attached homes.
Buyers, on average, negotiated 4% off asking price, however, 25% of the homes sold for list price or better. The MEDIAN sales price of detached homes was $555,500 (down 2%), and $338,000 (down 6%) for attached/condos.
There were 17 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 14 last month. These homes are considered active and are included in the statistics below. Some of these homes are contingent sales with first right of refusals.
At the end of November 2018 there were 427 Oceanside homes for sale, up by 1% from October. This represents an inventory of 2.3 months for detached homes (up from 2 months last month) and 2.4 months for attached homes (up 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 November 208 Oceanside homes came on the market, a decrease by 16% from last month. The number of Oceanside homes going pending also decreased, by 13%, to 141 pendings (excluding homes that actually sold in November).
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!