Here’s what happened in the Oceanside Real Estate Market in May 2022.
And here’s the market report for Oceanside for April 2022 as a comparison.
199 homes sold in Oceanside’s 4 zip codes, which is 7% fewer sales than last month. Here’s the breakdown of overall activity.
Single Family Homes Sold – 139 (down by 10%). 9 Average Days on Market. Average Sales Price was $992,853 (up 2%). The Average Sales Price was 105% of the original asking price.
Condos, Townhomes & Duplexes Sold – 60 (no change). 11 Average Days on market. Average Sales Price was $668,683 (up 3%). The Average Sales Price was 104% of the original asking price
Overall sales volume for May dropped from April. Sales declined for single family detached homes, but were the same for condos, townhomes and duplexes. The average sales price was higher for single family homes, as it also was for condos, townhomes, and duplexes. Sales prices ranged from $350,000 to $5,500,000.
The average marketing time was lower for single family homes, and for condos, townhomes and duplexes. Many buyers made decisions quickly, but at the same time 57% of the homes went pending in 1 week or less, fewer than last month.
Some buyers were able to negotiate their purchase prices, however 3 out of 4 buyers (74%) paid over asking price. This is a good indication of multiple offers and competition.
The median sales price of single family homes dropped 4% from last month at $885,000. On the other hand, the median price for condos, townhomes and duplexes was higher at $582,500 by 3%.
At the end of May there were 209 Oceanside homes for sale, which ranged in price from $333,000 to $6,450,000. This is another significant increase in inventory, by 40%, from last month, which is good news for buyers!
This translates to a 1 month supply of single family homes, and 1 month for condos, townhomes and duplexes. This is based on the rate of sales for the last 3 months. Thus the Oceanside market continues to be a very strong seller’s market when looking at supply and demand.
251 Oceanside homes were listed for sale in May, 8% more than in April. The number of Oceanside homes going pending remained about the same at 142, versus 143 last month (excluding homes that actually closed in May). It was another active month for buying and selling Oceanside homes.
NEXT STEPS?
I’m happy to share more specifics about the Oceanside real estate market, and within specific zip codes, neighborhoods, or price ranges. That information may help you make an educated decision about your home purchase or sale in Oceanside.
Please reach out to me at (760) 840-1360 to discuss your personal housing needs, lifestyle issues, budget and questions. Then we can develop a strategy to buy your new home, and/or sell your current Oceanside home!