What's the Value of My Oceanside Home?
Oceanside Home Sales for April 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 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.
If you are thinking about buying a home now or in the near future, you should read 8 Things to Know about Buying a Home in the Pandemic for some important information you should be aware of and think about.
READ MORE:
Oceanside California – A Growing and Changing Coastal San Diego Community
In April 2020 there were 146 homes sold in Oceanside’s 4 zip codes (92054, 92056, 92057, 92058), a decrease from March sales by 25%. Here’s the breakdown of overall activity.
Detached Homes Sold
90 (down 20%), 21 Days on Market, Average Sales Price $925,188 (down 4%), Average sales price was 100% of original asking price
Attached (condos, town homes) Homes Sold
56 (down 31%), 28 Days on Market, Ave. Sales Price $438,293 (up 8%), Average sales price was 99% of original asking price
Overall sales volume dropped substantially in April, with decreases for both detached and attached home sales. Average marketing time did not shift for detached homes but was 5 days longer on average for attached homes. 10% of the April home sales were cash transactions, vs. 18% in March. Average sales price increased for attached single family homes but declined modestly for detached homes.
Buyers, on average, negotiated 1% off the original asking price, however, over half of the home buyers (55%) paid full price or better for their homes, a good indication of competition. The MEDIAN sales price of detached homes rose again and was 2% higher than last month at $621,500; the median was 4% higher for attached homes than last month.
There were 12 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 13 last month. These homes are considered active and are included in the statistics below. Six of these homes are sales with first right of refusals due to offers that are contingent, and 6 are short sales.
At the end of April there were 346 Oceanside homes for sale (ranging in price from $235,000 to $3,980,000), a 35% increase in inventory from last month, the 4th significant improvement and good news for buyers despite the pandemic!
This represents a supply of 1.6 months for detached homes (no change from last month) and 2.6 months for attached homes (up from 2.5 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, especially for detached homes.
In April 200 Oceanside homes were listed, 21% fewer than last month but still 4 new listings per day. Similarly the number of Oceanside homes going pending decreased, from 146 to 133 (excluding homes that actually closed in April), still a relatively busy month during the pandemic.
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, so we can develop a strategy to get you into a new Oceanside home, and/or sell your current Oceanside home!
Be aware there are specific CDC recommendations in place, and new procedures due to the SIP Order to protect buyers and seller that impact showings and sales in our area. I’m happy to answer any questions you have about what this means for buying and selling during the pandemic.
SEARCH FOR OCEANSIDE HOMES FOR SALE
READ MORE:
What’s My Oceanside Home Worth? Oceanside Market Report for March 2020
