What is the Value of My Oceanside Home?
Oceanside Real Estate Market Report for October 2019
The Oceanside real estate market continues to evolve. 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 benefits you as a buyer or seller so you can make informed buying or selling decisions about Oceanside homes for sale.
In October 2019 there were 190 homes sold in Oceanside’s 4 zip codes (92054, 92056, 92057, 92058), a decrease from September of 12%, the 3rd decline in sales. Here’s the breakdown of overall activity.
Detached Homes Sold
100 (down 24%), 23 Days on Market, Average Sales Price $612,244 (down 1%), Average sale 98% of original asking price
Attached (condos, town homes) Homes Sold
90 (up 5%), 33 Days on Market, Ave. Sales Price $478,267 (up 14%), Average sale 97% of original asking price
Overall sales volume dropped in October; this change was due to a large decline in detached homes sales since attached sales increased modestly. Marketing time dropped for detached homes but was longer for attached homes. 15% of the October home sales were cash transactions, versus 16% in September. Average sales price decreased slightly for detached single family homes but was higher for attached homes.
Buyers, on average, negotiated 2 - 3% off the original asking price, however, 36% of the home buyers paid full price or better for their homes. The MEDIAN sales price of detached homes was slightly higher than last month at $599,500 (up 2%), and dropped by 1% to $370,000 for attached homes.
There were 17 homes with a CONTINGENT status (often these are properties waiting for approval by short sale or REO lenders, but some homes with this status are sales with a first right of refusal due to contingent offers), compared to 16 last month. These homes are considered active and are included in the statistics below. Most of these homes are sales with first right of refusals due to offers that are contingent, but 3 are short sales.
At the end of October 2019 there were 352 Oceanside homes for sale (ranging in price from $180,000 to $4,450,000), another decrease in inventory, by 8% from last month! This represents a supply of only 1.4 months for detached homes (the same as last month) and 2 months for attached homes (up from 1.9 months 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 October 233 Oceanside homes were listed, compared to 239 new listings in September - that's still about 8 new listings per day! The number of Oceanside homes going pending also dropped, from 160 to 152 (excluding homes that actually closed in October).
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. Why not give me a call at (760) 840-1360 so we can discuss your personal housing needs and budget, and develop a strategy to get you into a new Oceanside home in 2019, and/or to sell your current Oceanside home!
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