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Oceanside Real Estate Market Report for December 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 December 2018 there were 147 homes sold in Oceanside’s 4 zip codes (92054, 92056, 92057, 92058), a decrease from November by 10%. Here’s the breakdown of overall activity.
Detached Homes Sold
93 (up 2%), 37 Days on Market, Ave. Sales Price $558,955 (down 2%), Ave. sale 97% of asking price
Attached (condos, town homes) Homes Sold
54 (down 25%), 41 Days on Market, Ave. Sales Price $402,846 (no change), Ave. sale 97% of asking price
While overall sales volume declined in December, we saw a small increase in detached home sales coupled with a substantial decline for attached home sales. Marketing time increased modestly for both detached and attached homes. 15% of the December home sales were cash transactions, compared to 23% in November. Average sale prices dropped slightly for detached homes but did not shift for attached homes.
Buyers, on average, negotiated 3% off asking price, however, 27% of the home buyers paid full price or better for their homes. The MEDIAN sales price of detached homes was $545,000 (down 2%), and $346,000 (up 2%) for attached/condos.
There were 10 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), 3% of the total inventory, compared to 17 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 while others are short sales.
At the end of December 2018 there were 357 Oceanside homes for sale, down 16% from November, not a surprise for the holiday season, but well above the inventory for December 2017! This represents an inventory of only 1.9 months for detached homes (down from 2.3 months last month) and 2.3 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 December 140 Oceanside homes came on the market, a substantial decrease by 33% from last month. The number of Oceanside homes going pending also decreased significantly, by 25%, to 106 pendings (excluding homes that actually sold in December).
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!