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Oceanside Real Estate Market Report for May 2021
The Oceanside real estate market continues to change. This market report does not include private sales, mobile, or multifamily housing; the numbers are derived 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 and will help you make informed decisions about buying or selling Oceanside homes for sale.
In May 2021 there were 193 homes sold in Oceanside’s 4 zip codes (92054, 92056, 92057, 92058), 13% fewer sales than in April and another drop. Here’s the breakdown of overall activity.
Single Family Homes Sold
136 (down by 7%); 10 Average Days on Market; Average Sales Price $747,722 (down 5%); the Average Sales Price was 106% of the original asking price
Condos, Townhomes & Duplexes Sold
57 (down by 26%); 11 Average Days on market; Average Sales Price $594,411 (up by 1%); the Average Sales Price was 104% of the original asking price
Overall sales volume for May declined, and in particular for condos, townhomes and duplexes. The average sales price was modestly lower for single family homes, and but shifted slightly upwards for condos, townhomes, and duplexes. Sales prices ranged from $258,000 to $1,875,000.
The average marketing time was shorter for single family homes, as well as for condos, townhomes and duplexes, 10 and 11 days respectively. However, buyers made quicker decisions in many cases – 64% of the homes went pending in 7 days or less.
Some buyers were able to negotiate the original list price, however, the majority of the home buyers (85%) paid the full price or more for their new homes, a good indication of the continued competition and multiple offers. The MEDIAN sales price of single family homes was 2% higher than last month at $727,000; in contrast, the median for condos, townhomes and duplexes was 15% higher than last month at $539,000.
There were 23 homes with an Active Under Contract status, compared to 21 last month. These homes are considered active and are included in the statistics below but some may not allow more showings or back-up offers.
At the end of May there were 131 Oceanside homes for sale (ranging in price from $285,000 to $7,500,000), a substantial increase of 11% in inventory from last month, and more good news for buyers!
This represents a supply of 16 days for single family homes (down from 18 days last month) and 21 days for condos, townhomes and duplexes (up from 15 days 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 strong buyer demand and supply, in particular for single family homes.
237 Oceanside homes were listed for sale in May, 10% more than last month and good news for buyers – that’s around 8 new listings each day on average. Similarly, the number of Oceanside homes going pending increased, from 157 to 190 (excluding homes that actually closed in May). It was a busy month for sellers and buyers.
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!