What is the Value of My Oceanside Home?
Oceanside Home Sales for June 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 June 2019 there were 202 homes sold in Oceanside’s 4 zip codes (92054, 92056, 92057, 92058), a decrease from May of 6%, following 4 consecutive inventory increases. Here’s the breakdown of overall activity.
Detached Homes Sold
113 (down 7%), 22 Days on Market, Average Sales Price $598,632 (down 3%), Average sale 98% of original asking price
Attached (condos, town homes) Homes Sold
89 (down 5%), 42 Days on Market, Ave. Sales Price $461,929 (no change), Average sale 98% of original asking price
Sales volume declined in June overall, with both fewer detached single family home sales and attached homes sales. Marketing time remained about the same for detached homes at 3 weeks, but went up modestly for attached. 10% of the June home sales were cash transactions, versus 18% in May. Average sale prices decreased slightly for detached single family homes but did not shift for attached homes.
Buyers, on average, negotiated 2 - 3% off the original asking price, however, 38% of the home buyers paid full price or better for their homes. The MEDIAN sales price of detached homes was $580,000 (down 3%), and $385,000 (down 1%) for attached/condos.
There were 30 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 22 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; 7 are short sales and 2 are court approvals.
At the end of June 2019 there were 458 Oceanside homes for sale (home prices range from $203,000 to $4,699,999) an increase in inventory by 13% from last month, another increase and good news for buyers! However, this represents a supply of only 2 months for detached homes (up from 1.9 months last month) and 2.4 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 overall given buyer demand and supply.
In June 293 Oceanside homes were listed, 9% fewer than last month’s new listings. In contrast, the number of Oceanside homes going pending increased, by 6%, to 200 pendings (excluding homes that actually closed in June).
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!