What's the Value of My Oceanside Home?
Oceanside Home Sales Report for February 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 February 2019 there were 157 homes sold in Oceanside’s 4 zip codes (92054, 92056, 92057, 92058), an increase from January by 27% following 2 successive declines. Here’s the breakdown of overall activity.
Detached Homes Sold
95 (up 25%), 46 Days on Market, Ave. Sales Price $594,207 (up 5%), Ave. sale 97% of asking price
Attached (condos, town homes) Homes Sold
62 (up 29%), 40 Days on Market, Ave. Sales Price $448,789 (up 15%), Ave. sale 97% of asking price
Sales volume rose in February overall, with significantly more detached and attached home sales. Marketing time increased slightly for detached but dropped for attached. 19% of the February home sales were cash transactions, compared to 16% in January. Average sale prices rose for both detached single family homes and attached homes, more so for the latter.
Buyers, on average, negotiated 3% off the original asking price, however, 22% of the home buyers paid full price or better for their homes. The MEDIAN sales price of detached homes was $575,000 (up 4%), and $389,500 (up 14%) for attached/condos.
There were 19 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 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 due to offers that are contingent on the buyer selling a property.
At the end of February 2019 there were 378 Oceanside homes for sale, an increase in inventory by 6% from last month, and well above the inventory for February 2018! This represents a supply of only 2.1 months for detached homes (down from 2.2 months last month) and 3.4 months for attached homes (up from 2.7 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 for detached homes and a strong seller’s market for attached homes.
In February 227 Oceanside homes came on the market, a modest drop by 8% from last month. The number of Oceanside homes going pending also decreased modestly, by 9%, to 139 pendings (excluding homes that actually sold in February).
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!