Whether you’re a buyer or a seller, real estate trends are always changing in Oceanside, CA, and it pays to be updated! The market is as active as ever after all, and you’ll want to stay one step ahead of the competition. You can do that today by familiarizing yourself with the latest real estate news as of March 2022!
Read this before you go property hunting or selling in Oceanside, CA:
The median sales price of homes continues to go up
The median sale price you can expect to be working with for the average Oceanside home is at $750,000. It’s up a whopping 36.3% this year! With oil price hikes we’re expecting, we don’t think the median sales price is gonna go down any time either.
As a buyer, this is your cue to start looking at reliable mortgages you can turn to. As a seller, try to invest in properties you can rent out if you see yourself having difficulty selling homes with a higher listing price.
New listings continue to pop up at an erratic pace
From December 2021 to February 2022, listings jumped from 56 to 80. This still isn’t as drastic though as the jump between December 2020 to July 2021. Listings went from just 64 to 119 in the span of a few months!
Given the data, it’s hard to predict whether you can expect a drastic jump or a significant plummet between listings. It’s best to always proceed with the most practical options in mind. As a buyer, try not to dilly dally when scouting for properties. As a seller, be more aggressive about closing sales as soon as you can.
Rent is a bit high
Just like with median sales prices, we are observing a significant increase in rental prices as well. Expect an increase of 3.21% from last year which is higher than the national average of 2.40%.
If you’re a seller who intends to try to get tenants who want to rent every month, we suggest trying to come up with more attractive packages to get more tenants for your properties. This would mean marketing heavily to families and tenants with multiple roommates so they would likely have more means to pay rent. Flexible payment terms would be more attractive to them as well.
The housing market is highly competitive
The Redfin Compete Score for Oceanside is at 88, which indicates a highly competitive market. Most listings are juggling multiple offers at once, so you might want to be more aggressive if you’re a buyer who’s particularly set on a property.
Average homes are listed at 3% above listing price and are only pending for 10 days before turnover. On the other hand, homes that are particularly hot on the market are at a whopping 7% above listing price and are only pending in 6 days.
If you want an Oceanside property, you gotta move fast!
The population continues to grow
The national average statistic for population growth is at 6.23%. In Oceanside, it’s a little bit higher at 6.48%, and expect this statistic to grow consistently over time. This could be a reason why houses seem to be selling like hotcakes!
This is pretty important for sellers, especially if you’re faced with the challenge of a family or set of clients who don’t particularly want to live in a crowded area. It’s best to know the landscape of Oceanside by heart so you can zero down on attractive assets you can sell to new clients.
Sell to a professional home buyer!
Need to turn a quick profit right away? Contact us at Ignite Property Solutions, LLC!
We buy houses in Oceanside, CA and offer 100% fair cash offers only. We also accept homes in any condition, so you won’t have to worry about repairs, commissions, realtors, or even extra fees. We take care of all of that for you!
No need to get pre-qualified with a bank or have an existing listing on Zillow or Realtor. All you have to do is fill up the quick and easy form on our homepage to inquire with us today. We’re excited to do business!
