What's the Value of My Oceanside Home?
Oceanside Home Sales for August 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 August 2019 there were 227 homes sold in Oceanside’s 4 zip codes (92054, 92056, 92057, 92058), a decrease from July of 10%. Here’s the breakdown of overall activity.
Detached Homes Sold
142 (no change), 33 Days on Market, Average Sales Price $586,162 (down 2%), Average sale 97% of original asking price
Attached (condos, town homes) Homes Sold
85 (down 23%), 39 Days on Market, Ave. Sales Price $433,176 (down 10%), Average sale 96% of original asking price
Overall sales volume dropped in August but this change was solely due to the decline in attached homes sales. Marketing time rose modestly both detached and attached home sales. 19% of the August home sales were cash transactions, versus 13% in July. Average sale prices declined slightly for detached single family homes but dropped modestly for attached homes.
Buyers, on average, negotiated 3 - 4% 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 less than last month at $573,500 (down 2%), and dropped by 5% to $380,000 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 23 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; 2 are short sales.
At the end of August 2019 there were 400 Oceanside homes for sale, another decrease in inventory, by 6% from last month – but not a surprise for the summer! This represents a supply of only 1.5 months for detached homes (down from 1.7 months last month) and 1.8 months for attached homes (the same as 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, becoming even more competitive in August for the attached homes market.
In August 274 Oceanside homes were listed, 4% more than last month’s new listings, which is good news for buyers, and 9 homes listed per day! The number of Oceanside homes going pending declined by 5 to 194 (excluding homes that actually closed in August).
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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