Oceanside Real Estate and Property Values
Oceanside is situated 35 miles north of San Diego and is sandwiched between Camp Pendleton and Carlsbad. It has a rich history and is a thriving coastal city with a flourishing economy. Like the name suggests, it has tons of staggering beaches that present glorious views and attract tourists from all over the world to Oceanside.
The community is well placed and offers fantastic recreational options everywhere, which is why it attracts such a large number of tourists from all over the world. It also provides a great transportation link to the major metropolitan areas. The great weather in Oceanside is also another reason why many people consider choosing it as a great place to invest in real estate.
Oceanside has several great neighborhoods, and since it attracts so many tourists and movie stars, there are tons of hotels and luxury resorts in different districts around the area. There are lots of hotels and shops, along with recreational centers in downtown Oceanside for the multitude of visitors.
Real estate in Oceanside is very affordable and therefore you can find large communities for retired people and senior citizens easily. You can find everything, from apartments to condominiums and small homes to luxury palaces and villas.
The real estate market in Oceanside is currently one of the hottest right now, with home prices significantly lower than Encinitas or Carlsbad. There are lots of superstores and shopping malls springing up in every major neighborhood in the city, because of the affordable real estate market and young families are moving to the area.
The Real Estate Picture in Oceanside
The real estate market in Oceanside is one of the healthiest in the United States and recent figures suggest that it is the most viable destination for people who are looking to invest in real estate today. There has been a 6% increase in the resale of homes in the community this year, while the rates of short sales and foreclosures have fallen significantly.
The listing prices of the community have remained the same, and there have been a total of 134 price decreases and 31 price increases. According to the current market trend, this suggests that it is currently the best time to invest in real estate property in Oceanside, while the market is still generous.
A look to the Future of Real Estate in Oceanside
If current market trends are painting a good picture of real estate in Oceanside, the future looks even brighter. There has been an increase in the price of square foot for properties, which is now around $252, which is a 22.3% increase compared to the previous year.
The average price of homes in the community sits at around $373,000, according to 358 sales, which suggest a 15% increase in sales price. The number of homes and properties sold was lower than the previous years, with a 31.2% drop in sales, which suggest that properties in the area are fast going to be sold out. There have been nearly 500 homes that were sold in the neighborhoods with 368 homes being in the auction, foreclosure, pre-foreclosure and bank-owned stages process.
The average price of a home being sold in Oceanside today is $530,279, which is a 1% increase, while the most demanded neighborhoods, North Valley and San Luis Rey, boast listing prices of $415,267 and $303,633 respectively.
Oceanside is an extremely popular place and the real estate market in the area is extremely desirable for young and old families alike. There are even additional benefits for investing in real estate in the city, since you get the benefit of the lowest property tax rates and other incentive plans. If you are looking for real estate property investment in Oceanside, now is the perfect time!