Six months ago, a decent three-bedroom near South Oceanside would pull four or five offers in the first weekend. That's not happening the same way anymore.
I pulled MLS data for Oceanside last week. Active residential listings are up roughly 20% compared to this time last year. That's not a flood, but it's enough to change the feel of things. Homes on streets like Eaton and Surfrider Way are sitting a bit longer. Open houses that used to draw a line out the door are seeing smaller, more deliberate crowds.
For buyers, this is the window you've been waiting for and didn't believe would come. You have more to choose from, and sellers are more willing to negotiate on repairs and closing costs than they were in 2023. I had a buyer last month get $12,000 in credits on a place off Canyon Drive that would have sold as-is a year ago. That doesn't mean prices have dropped dramatically. Median sale price in Oceanside is still hovering around $750K based on what closed in April. But the pressure is different. You can sleep on a listing for a few days without losing it.
For sellers, here's where I'll be direct: pricing strategy matters more right now than it has in two years. I see agents still listing 5 to 8% above recent comps, banking on the old energy. Those listings are the ones sitting 30, 40 days. The homes that price accurately from day one are still moving within two weeks. There's a gap forming between well-priced listings and aspirational ones, and buyers can feel it.
Interest rates are part of this, obviously. Rates in the high sixes have kept some buyers cautious, which means the pool is smaller. But smaller doesn't mean gone. Serious buyers are out there, and they're doing their homework. They know what sold on their target street last month.
One thing I'd push back on is the idea that more inventory automatically means a buyer's market. We're not there. We're in something more balanced, and balanced markets reward preparation on both sides. Get your financing tight if you're buying. Get your pricing honest if you're selling.
If you want to talk numbers for your specific neighborhood, reach me at mayra@blacklabelrealty.com. I'd rather show you the data than guess.