What's the Value of My Oceanside Home?
Oceanside Real Estate Market Report for January 2020
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 current information 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.
READ MORE:
Oceanside California – A Growing and Changing Coastal San Diego Community
In January 2020 there were 126 homes sold in Oceanside’s 4 zip codes (92054, 92056, 92057, 92058), a significant decrease from December of 34%. Here’s the breakdown of overall activity.
Detached Homes Sold
74 (down 36%), 29 Days on Market, Average Sales Price $629,873 (up 2%), Average sale 97% of original asking price
Attached (condos, town homes) Homes Sold
52 (down 32%), 47 Days on Market, Ave. Sales Price $516,864 (up 12%), Average sale 97% of original asking price
Overall sales volume dropped substantially in January, with declines for both detached and attached home sales - a trend seen in other communities. Marketing time was shorter for detached homes, but longer for attached housing. 18% of the January home sales were cash transactions, vs. 14% in December. The average sales price increased slightly for detached single family homes, but was substantially 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, like last month. The MEDIAN sales price of detached homes was higher than last month at $610,000 (up 6%), but was unchanged for attached homes.
There were 14 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 11 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 5 are short sales.
At the end of January 2020 there were 221 Oceanside homes for sale (ranging in price from $229,000 to $3,999,999), a substantial increase in inventory by 15% from last month, a contrast to many communities that saw inventory declines! This represents a supply of 1.2 months for detached homes (up from under 1 month last month) and 2.2 months for attached homes (up from 1.7 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 January 249 Oceanside homes were listed, more than double the number in December, and good news for buyers. The number of Oceanside homes going pending also increased, from 93 to 171 (excluding homes that actually closed in January), signs of a busy month.
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 to discuss your personal housing needs and budget, and develop a strategy to get you into a new Oceanside home in 2020, and/or sell your current Oceanside home!
SEARCH FOR OCEANSIDE HOMES FOR SALE
READ MORE:
What’s My Oceanside Home Worth? Oceanside Market Report for December 2019
