The median sinigle-family home price for Oceanside real estate in the first week of August is $365,000.  This price reflects a climb again for the second week but we’re still a long way from  the market’s high price point so watch the Market Action Index to see how long this trend will last.

The average days on the market also climbed this week to 144, but only 15% of properties had a price decrease. This high DOM may reflect the continuing number of distressed properties on the market, especially short sales which take a very long time to be approved by the bank and close escrow.

The Market Action Index answers the question, “How is the market doing? and answers it by measuring the current rate of sale versus the amount of the inventory. An Index above 30 suggests a Seller’s Market while one below 30 favors the Buyers. Local conditions in Oceanside real estate are currently in the Buyer’s Market zone, although not strongly so. The 90-day Market Action Index for Oceanside real estate is at 25 so Buyers should still expect to find a very good selection of properties.

Buyers of real estate in Oceanside should step up and take advantage of these current market conditions before prices start to rise.  Sellers are motivated to get their homes into escrow before the kids go back to school, and buyers should go into the market ready to make a move.

This entry was posted on Sunday, August 9th, 2009 at 1:29 am and is filed under Oceanside Real Estate. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.