What's the Value of My Oceanside Home?
Oceanside Real Estate Market Report for October 2021
The Oceanside real estate market has continued to change. This market report does not include private sales or manufactured, mobile, or multifamily housing; the data are taken from the MLS and are believed to be accurate at the time this report was written, but are not guaranteed.
Having information 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 October 2021 there were 219 homes sold in Oceanside’s 4 zip codes (92054, 92056, 92057, 92058), 6% fewer sales than in September. Here’s the breakdown of overall activity.
Single Family Homes Sold
157 (down 4%); 17 Average Days on Market; Average Sales Price $833,724 (down 2%); the Average Sales Price was 102% of the original asking price
Condos, Townhomes & Duplexes Sold
62 (down 11%); 15 Average Days on market; Average Sales Price $643,330 (up 12%); the Average Sales Price was 102% of the original asking price
Overall sales volume for October declined, as it did for single family detached homes, and even more so for condos, townhomes and duplexes. The average sales price was slightly lower for single family homes, but increased for condos, townhomes, and duplexes. Sales prices ranged from $307,000 to $6,590,000.
The average marketing time was several days longer for single family homes, and 10 days longer for condos, townhomes and duplexes. It’s clear that many buyers made quicker decisions – 47% of the homes went pending in 1 week or less, about the same as last month so you can't dawdle in your decision making.
While some buyers were able to negotiate money off the original list price, the majority of the home buyers (73%) paid the full price or more for their new homes, no doubt the result of competition and multiple offers. The median sales price of single family homes was slightly less than last month at $775,000 (down 3%); however, the median for condos, townhomes and duplexes was higher at $530,500 (up 9%).
There were 23 homes with an Active Under Contract status, compared to 26 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 October there were 148 Oceanside homes for sale (ranging in price from $263,000 to $7,499,000), a modest drop in inventory, by 4% (6), from last month, but another decline!
This represents a supply of only 19 days for single family homes (down from 21 days last month) and 20 days for condos, townhomes and duplexes (compared to 15 days as last month) based on the rate of sales over the last 3 months. The Oceanside market is still a very strong seller’s market with continued buyer demand and limited supply.
201 Oceanside homes were listed for sale in October, about the same as last month (202), and an average of around 6 new listings daily. The number of Oceanside homes going pending decreased modestly by 6, at 180 (excluding homes that actually closed in October). It was a busy month for buying and selling.
I’m happy to provide more information 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. Please give me a call at (760) 840-1360 so we can discuss your personal housing needs and budget, then develop a strategy that will get you into a new Oceanside home, and/or help sell your current Oceanside home!