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Market Flash: Oceanside Real Estate Riding Rising Tide

09/20/2021
House For Sale Sign Oceanside

Oceanside real estate is continuing to enjoy a strong surge as we enjoy the final calendar days of summer here on Long Island. The median sales price of homes in Oceanside was up year on year, as was the total number of houses sold, the sale-to-list price and the number of homes that were sold above the list price, from the real estate numbers that came in for last month. One thing that was down from this same time in 2020? The median number of days that homes remained on the market. Welcome to this week’s Long Island HOME Market Flash as we head to Oceanside, NY.

Oceanside homes sold for a median price of $604,000 this past August, an increase of 15.5% year on year, according to Redfin. Five years ago, the average median price was $450,000, a number that rose each ensuing year until 2020:

Oceanside Median Home Sales Price
August 2016 $450,000
August 2017 $473,750
August 2018 $510,000
August 2019 $537,000
August 2020 $523,000

Home sellers received an average sales price above what they listed for—102.8% of the list, which is the highest such number in the past five years. In addition, 74.4% of the homes that sold in August went for more than the list price, an increase of 309% over last year’s activity, up from 40% the month before, and also the highest such percentage over the last five years.

The average home in Oceanside stayed on the market for 24 days, up from the 19-day average in July and the same as June, but shorter than at any other time in the past five years by an impressive margin, and a far cry from the 97 days of February 2019. More homes were sold as well year on year—4 homes sold in August 2021, a bump of 21.2% over the 33 homes that went in the same period of time last year.

Across the United States in this same period of time, the median home sales price was $385,650, up 19.5% from one year ago.

Oceanside is not only enjoying a short-term increases, but since 2000 the market has seen a 101.55% appreciation, according to Neighborhood Scout, which reports that the top five highest appreciating Oceanside neighborhoods over that time have been Brower Avenue/Oceanside Road, Oceanside Road/Nassau Parkway, Kings Highway/Mott Street, Town Center and Martin Court/Royal Avenue.

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