What's the Value of My Oceanside Home?
Oceanside Real Estate Market Report for January 2019
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 January 2019 there were 124 homes sold in Oceanside’s 4 zip codes (92054, 92056, 92057, 92058), a decrease from December by 16%, another decline. Here’s the breakdown of overall activity.
Detached Homes Sold
76 (down 18%), 38 Days on Market, Ave. Sales Price $567,052 (up 1%), Ave. sale 97% of asking price
Attached (condos, town homes) Homes Sold
48 (down 11%), 47 Days on Market, Ave. Sales Price $389,140 (down 3%), Ave. sale 96% of asking price
Sales volume declined in January overall, with a drop in both detached single family home sales and attached home sales. Marketing time increased for both detached and attached homes but only modestly. 16% of the January home sales were cash transactions, compared to 15% in December. Average sale prices dropped modestly for attached homes but rose slightly for detached single family home sales.
Buyers, on average, negotiated 3 - 4% off asking price, however, 26% of the home buyers paid full price or better for their homes, similar to last month. The MEDIAN sales price of detached homes was $552,500 (up 1%), and $342,500 (down 1%) for attached/condos.
There were 14 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 10 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 January 2019 there were 356 Oceanside homes for sale, almost the same as last month (357), but well above the inventory for January 2018! This represents a supply of only 2.2 months for detached homes (up from 1.9 months last month) and 2.7 months for attached homes (up from 2.3 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 January 248 Oceanside homes came on the market, a very substantial increase by 77% from last month. The number of Oceanside homes going pending also increased significantly, by 44%, to 153 pendings (excluding homes that actually sold in January).
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 personal housing needs and budget, and develop a strategy to get you into a new Oceanside home in 2019, or to sell your current home!