Like other local market, the Oceanside real estate market has undergone many shifts in the last several years and continues to evolve, especially with the large number of distress sales. These data do not include any private sales nor manufactured housing; the numbers are derived from the MLS and are believed to be accurate but are not guaranteed.
Media reports speak in general terms, rather than local, so that information may not represent the reality of the local Oceanside real estate market. Having data from a knowledgeable agent about the local market conditions benefits you as the buyer or seller.
In April 2009 there were 201 homes sold in Oceanside's 4 zip codes (92054, 92056, 92057, 92058), as compared to 188 in March (a 7% increase). Here's the breakdown of overall activity.
|
|
Total |
Detached |
Attached |
|||
|
|
Apr |
Mar |
Apr |
Mar |
Apr |
Mar |
|
# Sold
|
201 |
188 |
129 |
120 |
72 |
68 |
|
Ave. $
|
$267,719 |
$276,292 |
$317,465 |
$329,145 |
$173,006 |
$183,022 |
|
MDN $
|
$250,000 |
$255,000 |
$310,000 |
$315,000 |
$151,500 |
$128,500 |
|
DOM
|
65 |
56 |
64 |
50 |
68 |
68 |
|
List $/Sale $
|
98% |
97% |
98% |
98% |
97% |
95% |
As in other communities, sales volume went up in April and the average price for both detached and attached homes dropped - down 4% for detached homes, and 5% for attached. As compared to April 2008, sales rose 5% for detached homes (but average sales price in 2009 declined 20% from April 08) and 29% for attached homes (with a 37% decrease in average sales price in April 2009 versus 08).
At the end of April 2009 there were 779 Oceanside homes for sale (414 detached and 365 attached) a decline of 4% from the end of March. This represents an inventory of only 3 months for detached homes and 5.3 months for detached homes based on the current rate of sales over the last 6 months. These absorption rates continue to be impressive when compared to many other parts of the country, some of which have over 2 years of inventory. Indeed we are seeing more multiple offers, not only on distress sales but also on regular sales, especially below $400,000.
In April we saw 234 homes come on the market, 26% fewer than in March. During April 265 homes went pending, about 5% fewer than in the previous month. So coupled with the decline in inventory we saw an increase in volume, which has resulted in the fairly low absorption rates noted above.
More details can be provided if needed with regard to current activity as well as within the specific zip codes of Oceanside.
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All content copyright © 2009 Jeff Dowler Carlsbad Homes and Real Estate Tidbits
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Jeff
It is good to see sales volume going up, but I wish it would return at a greater pace. Like you said markets are evolving.
Jeff, WOW this April is higher than last April, that is encouraging news. Let's hope you see the same in May.
I love the sales numbers going back up...as you...our inventory in certain neighborhoods are decreasing.....even the rental market it thriving again.
I think next month will be booming....military PCS time :)
We have seen an uptick in our market with fewer homes on the market and more homes selling. Good News for all of us.
Hi Jeff, Usually with a higher absorption rates we can usually expect to see an uptick in closed values. I haven't seen that occur, in fact just the opposite. In this hybrid market, the usual rules don't seem to apply. When we get hit at the end of June or first part of July with all the new foreclosures, we will see what that affect will do but I expect it will be just more of the same with no greater transferring affect of lowering surrounding values beyond what we have already seen. But I also expect this new round of foreclsoures will include properties that may considered at least a bit more upscale.
Jeff at some point the market will turn and those that get it now will be very happy years down the road. Oceanside looks beautiful. With a name like that how could it not be!