What’s the Value of My Oceanside Home?
Oceanside Market Report for October 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, and will help you make informed decisions when buying or selling Oceanside homes for sale.
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Oceanside California – A Growing and Changing Coastal San Diego Community
In October 2022 there were 132 homes sold in Oceanside’s 4 zip codes (92054, 92056, 92057, and 92058), 20% fewer sales than in September. Here are the specifics of the housing activity.
Single Family Homes Sold
93 (down 18%); 27 Average Days on Market; Average Sales Price was $974,571 (up 15%); the Average Sales Price was 96% of the original asking price.
Condos, Townhomes & Duplexes Sold
39 (down 24%); 25 Average Days on market; Average Sales Price $608,163 (down 6%); the Average Sales Price was 97% of the original asking price.
Overall sales volume for October declined significantly from September. Sales decreased for single family detached homes, and for sales of condos, townhomes and duplexes. The average sales price was higher for single family homes, as well as for condos, townhomes, and duplexes. Sales prices ranged from $409,000 to $1,875,000.
Average marketing time did not change for single family homes, but was 2 days shorter for condos, townhomes and duplexes. However, some buyers made quick decisions, with 25% of the homes going pending in 1 week or less, slightly more than last month.
While about 2/3 of the buyers negotiated their purchase prices, 35% paid list price or higher. The median sales price of single family homes was 9% higher than last month, at $905,000. The median price for condos, townhomes and duplexes was about the same at $534,000.
There were 17 homes with an Active Under Contract status, compared to 25 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 290 Oceanside homes for sale, 8 more than last month (282) – a little positive news for buyers. Home prices range from $320,000 to $6,495,000.
Thus there is a 1.8 month supply of single family homes (the same as last month) and a 2 month supply for condos, townhomes and duplexes (versus 1.5 months last month), based on the rate of sales over the last 3 months. The Oceanside market continues to be a very strong seller’s market based on supply and demand.
136 Oceanside homes were listed for sale in October, 17% fewer than last month, but still 4+ new listings per day. Similarly, the number of Oceanside homes going pending decreased to 83, down from 113 in September (excluding homes that actually closed in October).
I’m happy to provide more detail 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 reach out to me at (760) 840-1360 to discuss your particular 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 September 2022
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