Oceanside, CA Market Report October 2023 vs. November 2023
Dear Neighbor,
When you’re ready to move up to a home that provides you with the extra space and amenities to host your family and friends, you know that to get the maximum sale price within a reasonable timeline, you want to have the right strategy in place.
For most of us, our homes are the largest asset we’ll ever own—so you are right to want to understand this asset and the market you are in. As you consider selling, you deserve the insight and guidance from an expert in your local market. Here are the top things to know about the Oceanside 92057 real estate market right now:
Inventory Is On the Rise, But Slowly
The market remains at a 13 year low as surging interest rates and elevated sales prices continue to make homeownership unaffordable for many prospective buyers. The supply remains low at 1.1 months of inventory. A healthy market is usually 6 months supply. One strategy for sellers to entice buyers is to offer a credit to apply to buyer closing costs or a mortgage buydown instead of dropping their list price. To capitalize on your investment, you want to work with a real estate expert who understands how to strategically price and market your home so you get maximum return.
Sale Prices Have Stabilized for Now
The days of getting $30K, $50K or $75K over list price is shrinking. Home prices will continue to rise because of the imbalance of buyers to sellers. Sellers are now taking cuts and days on market are getting longer for those that did not price correctly. These price cuts hurt your bottom line when you are selling your largest financial asset–and that’s exactly why you deserve a strategic marketing plan.
We’ve Recently Seen Mortgage Rates Dropping
Did you notice that the 10-year treasury bond rate moved markedly lower? Inflation is down to 3.2% which is close to the 2% target the Federal Reserve wants. This move helped move mortgage interest rates lower and in turn we’ve seen an increase of mortgage applications. With the right strategic plan, pricing, and positioning for your property and your goals, we can attract maximum offers and get your home sold for the highest possible price in the fewest days on market.
As a homeowner, what does this mean for you?
If you’re thinking about selling in the next 12 months, now is the time to start preparing for market.
As a full-time Realtor, when you hire me, you get comprehensive guidance. I get to know your unique goals and timeline, and then build my strategy to accommodate. Rest assured, responsiveness and resourcefulness are at the core of everything I do. Real estate transactions can come with all sorts of challenges, but that’s where I step in.
With my strategic marketing plan and step-by-step guidance, we’ll get your home prepared and priced to attract high-quality buyers, that way you get exactly what you deserve: the highest possible price in the fewest days on market.
If you are thinking about selling your home in the next 12 months, call me today for your Strategic Marketing Consultation → 760-443-4660
We will cover your goals and my unique approach to getting you the highest possible price in the fewest days on market.
Call Today → 760-443-4660
Laura Hooks, Realtor
License # 02084495
Big Block Realty, Inc.
www.SoCalLivingwithLaura.com
[email protected]
760-443-4660
Oceanside (92057) Market Highlights
Source: IfoSparks MLS Data Comparing Single Family Detached Homes
Looking Ahead
Here’s what we’ll be watching over the coming months:
- Low Supply of Available Homes
Oceanside (92057) continues to have low inventory, likely due to the increased uncertainty of interest rates. With inventory low and the median sale price steadily increasing sellers who work with an expert to properly position themselves on the market can generally expect to secure a nice return.
- Possible Easing of Interest Rates
Buyers are eager now to scoop up the available inventory, even at the current higher interest rates. It’s still a good time to sell. Many industry leaders predict interest rates to ease toward the end of 2023 and into 2024 and 2025. If they are right, then buyer demand will pick up dramatically. Regardless of what twists and turns the market takes, to truly maximize your return on investment, it’s crucial that you strategically position your home to buyers.
- Continued Growth In Oceanside
As Oceanside develops, we’ll continue to see property values increase. Here are just a few things to note:
- Oceanside was ranked #12 in the US News Best Beaches in California for 2023.
- Oceanside is recognized for delicious culinary and craft beverage establishments, vibrant nightlife, parks, various sports activities, hiking, bike paths, and a laid-back beach lifestyle.
- Oceanside prioritizes the safety and well-being of its residents, which is reflected in its relatively low crime rates and the community’s commitment to promoting safety and security.
- What to Expect When Selling Your Home
The market consistently evolves–and you deserve to sell for the highest possible price no matter what. The right marketing strategy, pricing knowledge, and negotiation power are what make the difference when you’re ready to sell your home and embark on what may be one of the largest financial transactions of your lifetime.
If you are thinking about selling your home in the next 12 months, call me today for your Strategic Marketing Consultation → 760-443-4660
Laura Hooks, Realtor
License # 02084495
Big Block Realty, Inc.
www.SoCalLivingwithLaura.com
760-443-4660
