What's the Value of My Oceanside Home?
Oceanside Real Estate Market Report for April 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 April 2019 there were 205 homes sold in Oceanside’s 4 zip codes (92054, 92056, 92057, 92058), an increase from March by 21%, the 3rd consecutive increase. Here’s the breakdown of overall activity.
Detached Homes Sold
123 (up 15%), 30 Days on Market, Average Sales Price $597,886 (up 12%), Average sale 98% of original asking price
Attached (condos, town homes) Homes Sold
82 (up 30%), 32 Days on Market, Ave. Sales Price $443,680 (down 5%), Ave. sale 97% of asking price
Sales volume rose in April overall, with significantly more detached and attached home sales. Marketing time decreased for both as well. 15% of the April home sales were cash transactions, the same as in March. Average sale prices increased for detached single family homes but decreased modestly for attached homes.
Buyers, on average, negotiated 2 - 3% off the original asking price, however, 43% of the home buyers paid full price or better for their homes a good indication of the competition. The MEDIAN sales price of detached homes was $580,000 (up 4%), and $366,750 (down 10%) for attached/condos.
There were 24 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 15 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, 5 are short sales and 1 is a court approval.
At the end of April 2019 there were 397 Oceanside homes for sale, an increase in inventory by 9% from last month, and well above the inventory for April 2018 by 18%! This represents a supply of only 1.8 months for detached homes (down from 1.9 months last month) and 2.9 months for attached homes (down from 3.2 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 and attached homes.
In April 318 Oceanside homes came on the market, a substantial increase by 29% from last month’s new listing. The number of Oceanside homes going pending also increased significantly, by 13%, to 208 pendings (excluding homes that actually closed in April).
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, and/or to sell your current Oceanside home!