What's the Value of My Oceanside Home?
Oceanside Real Estate Market Report for May 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 May 2019 there were 216 homes sold in Oceanside’s 4 zip codes (92054, 92056, 92057, 92058), an increase from April by 5%, the 4th consecutive increase. Here’s the breakdown of overall activity.
Detached Homes Sold
122 (down 1%), 23 Days on Market, Average Sales Price $619,487 (up 4%), Average sale 99% of original asking price
Attached (condos, town homes) Homes Sold
94 (up 15%), 35 Days on Market, Ave. Sales Price $462,550 (up 4%), Average sale 98% of original asking price
Sales volume rose in May overall, with 1 less detached sale but significantly more attached home sales. Marketing time decreased for detached homes but went up slightly for attached. 18% of the May home sales were cash transactions, versus 15% in April. Average sale prices increased modestly for both detached single family homes and attached homes.
Buyers, on average, negotiated 1 - 2% off the original asking price, however, 45% of the home buyers paid full price or better for their homes. The MEDIAN sales price of detached homes was $595,000 (up 3%), and $390,000 (up 6%) for attached/condos.
There were 22 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 24 last month. These homes are considered active and are included in the statistics below. Most of these homes are sales with first right of refusals due to offers that are contingent on the buyer selling a property; 5 are short sales and 2 are court approvals.
At the end of May 2019 there were 407 Oceanside homes for sale, an increase in inventory by 3% from last month, another increase, and well above the inventory for May 2018 by 14%! This represents a supply of only 1.9 months for detached homes (up from 1.8 months last month) and 2.3 months for attached homes (down from 2.9 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 overall.
In May 322 Oceanside homes were listed, an increase of 1% from last month’s new listings. In contrast the number of Oceanside homes going pending declined, by 10%, to 188 pendings (excluding homes that actually closed in May).
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!