Tuesday, March 1, 2011

Oceanside, CA Housing Statistics

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Over the past year the median $/Sqft of properties in Oceanside, CA declined 5.3%.  However, property values peaked during the summer of 2010 and have declined since (7.8% decline since).  This was likely due to the expiration of the federal tax credit for new home buyers which expired in April of 2010.  Property values also declined the most sharply (approximately 5%) from the Fall of 2010 to the present .  There are currently 5.1 months of housing inventory indicating a balanced demand/supply trend.  Property sold after a median of 62 active marketing days over the past 3 months indicating a marketing time trend of less than 90 days.  According to the local MLS, 41.2% of all sales over the past 3 months were bank sales or short sale which is a decrease from 54.5% during the same period last year but still at historically high levels that are putting downward pressure on property values.

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