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Oceanside Real Estate Market Report for December 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 December 2019 there were 191 homes sold in Oceanside’s 4 zip codes (92054, 92056, 92057, 92058), an increase from November of 13%, following 4 months of sales decline. Here’s the breakdown of overall activity.
Detached Homes Sold
115 (up 3%), 33 Days on Market, Average Sales Price $614,910 (down 4%), Average sale 97% of original asking price
Attached (condos, town homes) Homes Sold
76 (up 33%), 39 Days on Market, Ave. Sales Price $459,478 (up 3%), Average sale 96% of original asking price
Overall sales volume rose in December, with a modest increase in detached single family homes sales but a big jump in attached sales. Marketing time was a little longer for both types of housing. 14% of the December home sales were cash transactions, about the same as November. The average sales price decreased modestly for detached single family homes but was higher for attached homes.
Buyers, on average, negotiated 3 - 4% 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 lower than last month at $578,000 (down 4%), and slightly lower by 1% at $395,500 for attached homes.
There were 11 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 20 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, but 2 are short sales.
At the end of December 2019 there were 221 Oceanside homes for sale (ranging in price from $175,000 to $4,450,000), a substantial decrease in inventory by 38% from last month no doubt due to the holidays! This represents a supply of less than 1 month for detached homes (down from 1.3 months last month) and 1.7 months for attached homes (down from 2.1 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 December 105 Oceanside homes were listed, compared to 170 new listings in November. The number of Oceanside homes going pending also dropped, from 149 to 93 (excluding homes that actually closed in December).
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.
I invite you to 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 2020, and/or to sell your current Oceanside home!