Real Estate Volatility – Anatomy of a bubble, crash, and recovery to all time highs – Encinitas, CA 92024

30 May

In April of 2004 I signed a Purchase Contract for a brand new home on Beach Street in Encinitas. The home was scheduled for a May 2005 completion.  The purchase price ended up being $645,000 with some options and upgrades.  By the time the escrow closed in 5/2005,  the value of the home was approximately $750,000. By what appeared to be the local peak later that year, the value topped in the high $700,000’s.

The bottom of the market in my view was the last quarter 2011.  However, sales prices may show otherwise depending on location and/or specific circumstances.  Beach Street appeared to scrape the bottom in the low $500,000’s price wise.

Exciting things such as the new Hall Property/Cardiff Park opening this fall, the Encinitas 101 Corridor redevelopment – new shops/restaurants etc., some incredible local beaches (Moonlight Beach approx 3/4 miles away), and certainly historically low inventory and interest rates is combining to send us to new all time highs in our neighborhood.

Let’s take a closer look…

encMLS


 

 

 

       

      


 

 

   Address                   BR/BA    Sq. Ft.   DOM       List Date      Close Date      Sale Price

653 Beach Street

3

2.5

1,493

20

7/8/2005

6/1/2006

765,000

656 Beach St

3

2.5

1,500

92

4/17/2006

7/26/2006

640,000

526 Beach St

3

2.5

1,500

98

3/27/2006

9/7/2006

710,000

411 Swamis Lane

3

2.5

1,720

26

11/3/2006

1/4/2007

670,000

513 Beach St

4

2.5

1,720

52

10/6/2006

1/16/2007

595,000

412 Swamis Lane

3

2.5

1,883

6

6/11/2007

7/10/2007

692,440

649 Beach St

4

2.5

1,720

0

9/24/2007

10/26/2007

725,000

401 Swamis

3

2.5

1,883

11

9/30/2007

11/14/2007

693,000

519 Beach St

3

2.5

1,883

47

2/15/2008

5/2/2008

695,000

502 Beach Street

3

2.5

1,883

55

2/16/2008

5/16/2008

677,500

413 Pipes

4

2.5

1,720

48

6/20/2008

9/9/2008

649,000

518 Beach St.

3

2.5

1,883

137

8/20/2008

2/3/2009

600,000

400 Swamis Lane

4

2.5

1,720

29

12/31/2008

3/5/2009

620,000

401 Swamis Lane

3

2.5

1,883

29

2/26/2009

4/30/2009

610,000

513 Beach

4

2.5

1,720

54

2/6/2009

5/1/2009

605,000

409 Pipes Lane

3

2.5

1,883

65

2/26/2009

5/21/2009

589,000

410 Pipes Lane

3

2.5

1,720

41

6/16/2009

8/20/2009

610,000

414 Pipes Lane

4

2.5

1,883

140

4/8/2009

10/1/2009

553,000

534 Beach St

4

2.5

1,720

17

12/15/2009

1/29/2010

575,000

407 Swamis Ln

3

2.5

1,883

48

8/31/2010

12/30/2010

515,000

558 Beach St

3

2.5

1,883

17

4/25/2011

6/9/2011

545,000

407 Pipes Ln

4

2.5

1,720

74

7/7/2011

10/20/2011

545,000

502 Beach St

3

2.5

1,883

33

3/2/2012

4/24/2012

585,000

648 Beach St

3

2.5

1,883

23

3/13/2012

5/2/2012

580,000

413 Pipes Ln

4

2.5

1,720

33

6/22/2012

8/28/2012

600,000

624 Beach St

4

2.5

1,883

54

6/20/2012

9/19/2012

570,000

410 Pipes Ln

4

2.5

1,720

3

6/9/2013

7/19/2013

665,000

502 Beach Street

3

2.5

1,883

10

6/29/2013

8/29/2013

$690,000

519 Beach Street

4

2.5

1883

28

3/7/2014

5/14/2014

$767,250

 **600 Beach St listed $799,000 in escrow multiple offers  
**502 Beach Street closed sale 8/29/2013 never hit MLS and had multiple offers