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Oceanside Real Estate Market Report for September 2020
The Oceanside real estate market continues to evolve during the pandemic. 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 will benefit you as a buyer or seller and help you make informed buying or selling decisions about Oceanside homes for sale.
In September 2020 there were 237 homes sold in Oceanside’s 4 zip codes (92054, 92056, 92057, 92058), a 6% decrease in sales from August. Here’s the breakdown of overall activity.
Single Family Homes Sold
165 (up 13%); Average Sales Price $671,242 (down by 7%); Average sales price was 100% of original asking price
Condos, Townhomes & Duplexes Sold
72 (down 31%); Average Sales Price $614,355 (up by 7%); Average sales price was 96% of original asking price
Overall sales volume dropped for September overall, but with more single family home sales but significantly fewer condo, townhome and duplex sales. The average sales price declined modestly for single family homes but rose for condos, townhomes, and duplexes. Sales prices ranged from $219,000 to $3,865,000.
Buyers, on average, negotiated 4% off the original asking price, however, over half of the home buyers (62%) paid full price or more for their homes, a reflection of the continuing competition. The MEDIAN sales price of single family homes was 3% lower than last month at $635,000; in contrast the median for condos, townhomes and duplexes was 13% higher than last month at $462,950.
There were 27 homes with a CONTINGENT status (now referred to as “Active Under Contract” in our MLS), compared to 20 last month. 5 were short sales and the rest appeared to be first right of refusals. These homes are considered active and are included in the statistics below.
At the end of September there were 183 Oceanside homes for sale (ranging in price from $225,000 to $3,695,000), an 8% decrease in inventory from last month, and the 5th consecutive decline!
This represents a supply of less than 1 month for single family homes (the same as the last 2 months) and 1.2 months for condos, townhomes and duplexes (like 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 particular for single family homes.
In September 241 Oceanside homes were listed, up 2% from last month and some good news for buyers. The number of Oceanside homes going pending decreased, from 226 to 221 (excluding homes that actually closed in September), down by 2%; it was a busy month for both buyers and sellers.
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 help you sell your current Oceanside home!