What's the Value of My Oceanside Home?
Oceanside Home Sales for July 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 July 2019 there were 253 homes sold in Oceanside’s 4 zip codes (92054, 92056, 92057, 92058), a big increase from June of 25%, following a decline from May to June. Here’s the breakdown of overall activity.
Detached Homes Sold
142 (up 26%), 26 Days on Market, Average Sales Price $598,120 (no change), Average sale 98% of original asking price
Attached (condos, town homes) Homes Sold
111 (up 25%), 31 Days on Market, Ave. Sales Price $480,709 (up 4%), Average sale 98% of original asking price
Sales volume rose in July substantially for both detached single family home sales and attached homes sales. Marketing time rose a little for detached homes, but dropped by almost 2 weeks for attached. 13% of the July home sales were cash transactions, versus 10% in June. Average sale prices remained the same for detached single family homes but rose modestly for attached homes.
Buyers, on average, negotiated 2% off the original asking price, however, 40% of the Oceanside home buyers paid full price or better for their homes. The MEDIAN sales price of detached homes was about the same as last month at $585,000, and rose modestly by 4% to $400,000 for attached homes.
There were 23 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 30 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; 4 are short sales, 1 was an REO and 1 was a court approval.
At the end of July 2019 there were 400 Oceanside homes for sale, a decrease in inventory by 13% from last month – doubt due to the combination of fewer new listings and increased sales! This represents a supply of only 1.7 months for detached homes (down from 2 months last month) and 1.8 months for attached homes (down from 2.4 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 overall given buyer demand and supply, becoming even more competitive in July.
In July 264 Oceanside homes were listed, 10% fewer than last month’s new listings, the second decline but that’s still more than 8 homes listed per day! The number of Oceanside homes going pending remained about the same, dropping by 1 to 199 (excluding homes that actually closed in July).
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!