What's the Value of My Oceanside Home?
Oceanside Real Estate Market Report for September 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 September 2019 there were 217 homes sold in Oceanside’s 4 zip codes (92054, 92056, 92057, 92058), a decrease from August of 4%, the second decline in sales. Here’s the breakdown of overall activity.
Detached Homes Sold
131 (down 8%), 29 Days on Market, Average Sales Price $616,803 (up 5%), Average sale 98% of original asking price
Attached (condos, town homes) Homes Sold
86 (up 1%), 30 Days on Market, Ave. Sales Price $420,365 (down 3%), Average sale 97% of original asking price
Overall sales volume dropped in September; this change was due to the decline in detached homes sales since attached sales increased slightly. Marketing time dropped for both detached and attached home sales. 16% of the September home sales were cash transactions, versus 19% in August. Average sale prices increased modestly for detached single family homes and dropped modestly for attached homes.
Buyers, on average, negotiated 2 - 3% off the original asking price, however, 39% 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 $590,000 (up 3%), and dropped by 2% to $372,000 for attached homes.
There were 16 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 likely due to contingent offers), compared to 17 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; 2 are short sales and 1 is a court approval.
At the end of September 2019 there were 383 Oceanside homes for sale, another decrease in inventory, by 4% from last month! This represents a supply of only 1.4 months for detached homes (down from 1.5 months last month) and 1.9 months for attached homes (up from 1.8 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 current supply.
In September 239 Oceanside homes were listed, 13% fewer than last month’s new listings, but that's still about 8 new listings per day! The number of Oceanside homes going pending also dropped, by 18% from 194 to 160 (excluding homes that actually closed in September).
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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If I can provide more information about homes for sale in Carlsbad and in surrounding areas, our local housing market conditions, or assist you, friends or family in a purchase or sale, please contact my mobile office or text me at (760) 840-1360, or email me at JeffDowlerSolutions@gmail.com
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