What’s the Value of My Oceanside Home?
Oceanside Real Estate Market Report for May 2022
The Oceanside real estate market continues 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 when 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, and will help you make informed decisions about buying or selling Oceanside homes for sale.
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Oceanside California – A Growing and Changing Coastal San Diego Community
In May 2022 there were 199 homes sold in Oceanside’s 4 zip codes (92054, 92056, 92057, and 92058), 7% fewer sales than in April. Here’s the breakdown of overall activity.
Single Family Homes Sold
139 (down by 10%); 9 Average Days on Market; Average Sales Price $992,853 (up 2%); the Average Sales Price was 105% of the original asking price
Condos, Townhomes & Duplexes Sold
60 (no change); 11 Average Days on market; Average Sales Price $668,683 (up 3%); the Average Sales Price was 104% of the original asking price
Overall sales volume for May dropped from April. Sales declined for single family detached homes, but remained the same for sales of condos, townhomes and duplexes. The average sales price was slightly higher for single family homes, as it also was for condos, townhomes, and duplexes. Sales prices ranged from $350,000 to $5,500,000.
Average marketing time dropped for single family homes, and for condos, townhomes and duplexes. While many buyers made decisions quickly, 57% of the homes went pending in 1 week or less, less than last month.
While some buyers were able to negotiate their purchase price, 3 out of 4 (74%) paid over asking price for their new homes, the result of multiple offers. The median sales price of single family homes was 4% lower than last month at $885,000; in contrast the median price for condos, townhomes and duplexes, was higher at $582,500, up 3%.
There were 18 homes with an Active Under Contract status, compared to 13 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 209 Oceanside homes for sale, ranging in price from $333,000 to $6,450,000. This is another substantial increase in inventory, by 40%, from last month, and more good news for buyers!
This translates to a 1 month supply of single family homes (compared to 26 days last month) and 1 month for condos, townhomes and duplexes (compared to 22 days last month), based on the rate of sales for the last 3 months. The Oceanside market continues to be a very strong seller’s market due to supply and demand.
251 Oceanside homes were listed for sale in May, 8% more than last month, and an average of 8+ new listings each day. The number of Oceanside homes going pending remained about the same at 142, versus 143 last month (excluding homes that actually closed in May). It was another active month in Oceanside for buying and selling.
I’m happy to share more details about the Oceanside real estate market, and within specific zip codes, neighborhoods, or price ranges, to help you make an educated decision about your home purchase or sale. Please reach out to me at (760) 840-1360 to discuss your personal housing needs, lifestyle, budget and questions. Then we can develop a plan to help you buy your new home, and/or sell your current Oceanside home!
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READ MORE:
What’s My Oceanside Home Worth? Oceanside Market Report for April 2022
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