What's the Value of My Oceanside Home?
Oceanside Real Estate Market Report for March 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 March 2019 there were 170 homes sold in Oceanside’s 4 zip codes (92054, 92056, 92057, 92058), an increase from February by 8%, the 2nd consecutive increase. Here’s the breakdown of overall activity.
Detached Homes Sold
107 (up 13%), 35 Days on Market, Average Sales Price $584,077 (down 2%), Average sale 98% of original asking price
Attached (condos, town homes) Homes Sold
63 (up 2%), 39 Days on Market, Ave. Sales Price $467,854 (up 4%), Ave. sale 97% of asking price
Sales volume rose in March overall, with significantly more detached home sales. Marketing time decreased slightly for attached homes but dropped by 11 days for detached. 15% of the March home sales were cash transactions, compared to 19% in February. Average sale prices dropped slightly for detached single family homes but increased modestly for attached homes.
Buyers, on average, negotiated 2 - 3% off the original asking price, however, 37% of the home buyers paid full price or better for their homes. The MEDIAN sales price of detached homes was $560,000 (down 3%), and $405,500 (up 4%) for attached/condos.
There were 15 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), compared to 19 last month. These homes are considered active and are included in the statistics below. Most of these homes are contingent sales with first right of refusals due to offers that are contingent on the buyer selling a property, 3 are short sales and 1 is a probate sale.
At the end of March 2019 there were 363 Oceanside homes for sale, a decrease in inventory by 6% from last month, in contrast to a number of toehr communities that saw increases, but well above the inventory for March 2018 by almost 20%!
This represents a supply of only 1.9 months for detached homes (down from 2.1 months last month) and 3.2 months for attached homes (down from 3.4 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 for detached homes and is a strong seller’s market for attached.
In March 247 Oceanside homes came on the market, an increase by 9% from last month. The number of Oceanside homes going pending also increased substantially, by 32%, to 184 pendings (excluding homes that actually sold in March).
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!