Real Estate Volatility – Anatomy of a bubble, crash, and recovery to all time highs – Encinitas, CA 92024
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…
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  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 Â
**502 Beach Street closed sale 8/29/2013 never hit MLS and had multiple offers