Oceanside Real Estate - Oceanside Real Estate Market Report for July 2009

Like other local markets, 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 or mobile 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.

READ MORE: Oceanside California - A Growing and Changing Coastal San Diego Community

In July 2009 there were 262 homes sold in Oceanside's 4 zip codes (92054, 92056, 92057, 92058), as compared to 190 in June (a significant increase of 38%). Here's the breakdown of overall activity.

The sales volume increased substantially in July to the highest level since October 2008. The average price declined at the same time as we have seen in other coastal communities in July. The days on market decreased for both detached and attached homes. The sale price/list price ratio reflects the fact that many of the homes that sold (a large number of REOs) are selling at well more than asking price (the highest at 131%), to balance homes that sold for less than asking.

In Oceanside there were 291 homes with a contingent status at the end of July, 10% more than at the end of June - 56% of these are detached homes. This represents 41% of all the homes for sale. Thus buyers entering the Oceanside real estate market are seeing over 1/3 of the inventory already with offers in for approval for short sales and REOs, so there is some pretty good competition in the Oceanside market. These contingent homes are included in the overall Active stats below.

At the end of July 2009 the Oceanside real estate market had 714 homes for sale (383 detached and 331 attached), down only 1% from June levels. This represents an inventory of 2.9 months for detached homes (down 3.1 months for June) and 4.3 months for attached homes (down 4.9 months at the end of June) 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.

In July we saw 145 homes come on the market (84 detached, 61 attached), 27% fewer than last month. During July 216 homes went pending, the same number as in June.

More details can be provided if needed with regard to current activity in the Oceanside real estate market as well as within the specific zip codes or subdivisions.

READ MORE:

Oceanside Real Estate - Oceanside Real Estate Market Report for June 2009

Oceanside Real Estate - Oceanside Real Estate Market Report for May 2009

Oceanside Real Estate - Oceanside Real Estate Market Report for March and April 2009

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If I can provide more information about Oceanside and surrounding areas, or the housing market in general, or otherwise assist you in your homes search, please contact me by phone or text at (760) 840-1360 or email me at JDowler@remax.net.

All content copyright © 2009 Jeff Dowler Carlsbad Homes and Real Estate Tidbits