Oceanside October Real Estate Market Report
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. I am showing you data from August to October of 2023 so you can see what our current market looks like these days.
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 1.7 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 of market are getting longer for those that did not price correctly. These price cuts really add up 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 Drop
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. If you are looking to buy I can help you with that too. I have strategies ready.
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
| Single-Family Home Stats
Zip Code 92057 |
August 2023
vs. September 2023 |
Analysis |
| Median Sale Price | Down
9.16% |
Median sale price is now at $817,500 in October, down from $900,000 in August. When you prepare and price correctly from day one, you can maximize offers and ultimately sell for the highest possible price as quickly as possible. |
| Median Days on Market | Stable | Median days on market are at 11 in October. August was at 9 and September was 8. Strategic pricing and marketing ensure your home sells for top dollar in the fewest days on market.
|
| Sale-to-List Price Ratio | ↑ Up
Slightly |
Strategically marketed homes are selling at or above list price, making it especially important to start with an expert strategy from day one to sell for the highest possible price in the fewest days on market. |
| Price per Square Foot | ↑ Up
7.67% |
Demand in Oceanside is strong. Price per square foot is now at $477/sq. ft. in October, compared to $443 in August.
To maximize your results, it’s extremely important to have a proven strategy and expert guidance from the beginning. |
Source: InfoSparks MLS data
Looking Ahead
Here’s what we’ll be watching over the coming months:
- Low Supply of Available Homes
Oceanside (92057) had low inventory again in October and will likely be the case for many months to come. Sellers trying to sell should offer credits to entice buyers and buyers should utilize a buydown strategy to obtain a mortgage interest rate at least 2% below current market 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.
- Still Talk About Easing of Interest Rates
Many industry leaders predict interest rates to ease toward the end of 2023 and into 2024 and 2025 and buyers are biding their time. If they are right, then buyer demand will pick up dramatically and we will have another buying frenzy year like 2021. 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 in demand. Here are just a few things to note:
- Oceanside was ranked #12 in the US News Best Beaches in California for 2023.
- Oceanside was awarded a 2023 Sunset Magazine Travel Award – Where to Go: Best City Getaways category.
- 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.
- OceanKamp is still on schedule to be completed in 2024 and 2025. This is a unique property with a wave pool for surfing, shopping, camping, entertainment venue and more.
- 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 looking to buy I can help you with that too. I have strategies ready.
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
