North County Coastal monitor

User Forum Topic
Submitted by sdrealtor on August 12, 2020 - 4:30pm

Time to move this onto the forums for some added visibility and discussions. Ive been tracking this data since the beginning of April when the market was just coming out of a month where the market was frozen in place withe the shelter in place order. Since then the market has come roaring back here.

A few parameters. This data is for detached homes only in Encinitas (92024) and the two S Carlsbad zips (92009 and 92011). I run the data mid afternoon on tuesdays to allow for a day or two of negotiations after the weekend. New listings mostly come on the market between Wed Night and Saturday Morning. New pendings mostly reach agreement between Sunday night and Tuesday Afternoon. I also exclude new homes as its generally a different market.

Im not gonna rehash all the old data but may refer to trends. Anyone wanting to see data can ask or refer back to home page threads.

Submitted by profhoff on September 13, 2020 - 9:15am.

We did, sdrealtor! We finally did. But I will say it took a lot of preparation. It also helped to have four years of experience looking and losing out on offers to snag the perfect one when it finally hit.

Submitted by profhoff on September 13, 2020 - 9:20am.

I also think you are right, sdrealtor, that as the masses come and discover the unique charms of Encinitas, they'll buy what they can afford to buy to grab a little piece of the magic.

The I-5 won't have the same connotation to them that it does to locals and I think the "wrong side of the tracks" perception will largely fade away.

Also agree that the "barefoot luxury" the new Alila Marea Beach Resort represents will be a real game changer for Leucadia, in particular.

https://www.alilahotels.com/about-alila/...

Submitted by sdrealtor on September 14, 2020 - 3:16pm.

profhoff wrote:
I also think you are right, sdrealtor, that as the masses come and discover the unique charms of Encinitas, they'll buy what they can afford to buy to grab a little piece of the magic.

The I-5 won't have the same connotation to them that it does to locals and I think the "wrong side of the tracks" perception will largely fade away.

Also agree that the "barefoot luxury" the new Alila Marea Beach Resort represents will be a real game changer for Leucadia, in particular.

https://www.alilahotels.com/about-alila/upcoming-developments/alila-marea

We are on the same page. It's not just Encinitas. The NCC from Del Mar through Carlsbad is all very special and in this same trajectory IMO. That new resort will attract Hollywood elite, pro athletes, corporate execs and billionaires will be guests at this place with their families. SD is a world class destination and this resort will represent the single best beach resort here. I think it's gonna be a home run for the area despite local old time opposition. It's funny that the Sea Bluffe folks view it as a threat. It could triple their property values over the next twenty years if not sooner

Congrats on your new home and glad to hear your heels are dug in

Submitted by sdrealtor on September 15, 2020 - 5:20pm.

Update time. Im starting to think all of SD cant possibly be like here. Here's the latest

New listings 24 back down and seems about average for this time of year.

New Pendings of 35 so the buyers still very active. Its gotta be real tough to be a buyer out there shaking one's head! Pendings were 11 higher than new listings. There seems to be no end to the demand

Closed sales at 40 were highest of the year. Here's something astounding I found when reviewing them. 25 closed at or above asking price with most of those above asking. That means unfilled orders and more upward pressure on prices.

Back up with 13 price reductions.

Total houses for sale down to 85. Just a note here as to the reason why inventory doesnt drop as much as the gap between new and pending listings. Each week a bunch of properties come back on the market for a variety of reasons. It can be a buyer that cancelled, a seller that pulled their home of the market to do upgrades or take a break or any number of reasons. Its good to look at the inventory number but I think the gap between new and pending listings is more indicative of market conditions.

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.