Median Sales Prices by Area

It’s been ten years since the bottom of the market.

Let’s see how the annual median-sales-prices of detached-homes have changed:

Town or Area
Zip Code
2009
2014
2019
10yr % chg
Cardiff
92007
$785,000
$1,180,000
$1,408,000
+79%
NW Carlsbad
92008
$587,000
$740,000
$999,500
+70%
SE Carlsbad
92009
$690,000
$825,000
$1,085,000
+56%
NE Carlsbad
92010
$528,750
$650,000
$830,000
+57%
SW Carlsbad
92011
$696,500
$850,000
$1,113,050
+60%
Carmel Valley
92130
$855,000
$1,090,000
$1,345,000
+57%
Del Mar
92014
$1,350,000
$1,625,000
$2,000,000
+48%
Encinitas
92024
$720,000
$955,000
$1,409,000
+96%
La Jolla
92037
$1,450,000
$1,640,000
$2,100,000
+45%
RSF
92067
$2,325,000
$2,476,596
$2,550,000
+10%
Solana Beach
92075
$1,075,000
$1,326,000
$1,462,500
+36%
NSDCC MSP
All Above
$815,000
$1,013,000
$1,325,000
+63%
NSDCC Sales
All Above
2,204
2,813
2,801
+27%

Takeaways?

  1. Everywhere’s a million!
  2. Most areas had their median sales price rise more in the second half (2014-2019).
  3. The number of sales is very impressive, given the run-up in pricing (we had 2,781 sales in 2018).
  4. Pricing in the Ranch has averaged +1% per year, which proves we can live with flat pricing for 5-10 years.
  5. Encinitas is less like Carlsbad and more like its ritzy neighbors to the south. Maybe it’s the culture?

https://encinitasca.gov/Home/City-Calendar/ctl/ViewEvent/mid/774/OccuranceId/3336

Leucadia Bluff Appeal

For those who are thinking of building a home on the bluff, you may want to consider this recent case seen at Encinitas Undercover – hat tip WC!

The property owners purchased a vacant lot in 2012 for $1,700,000, and it appears this approval process has been underway ever since.

In 2013, the City of Encinitas planning commission approved the homeowners’ plan to build a two-story 3,553 square foot home with a 1,855 square foot underground basement and a 950 square foot garage. The seaward side of the structure would be set back 40 feet from the edge of the bluff.

Shortly thereafter, the geotechnical engineers revised their required report which recalculated the math but came to the same conclusion – a 40-ft setback from the edge of the bluff would work and comply with the generally-accepted rate of 30 feet of erosion over the next 75 years.

But then two commissioners from the Coastal Commission filed an appeal, so the homeowners hired a different engineering firm to complete a second geotechnical report.  When the appeal was heard, the Coastal Commission rejected the second report and approved the project with a 60 to 62-foot setback from the edge of the bluff.

The Commission explained that the building footprint resulting from a 60 to 62-foot setback from the bluff edge would still allow the Lindstroms to construct a 3500 square foot home, not including a basement, and that if the Lindstroms obtained a variance from the City reducing the frontyard setback, the building footprint would be even larger.

The homeowners took the Coastal Commission decision to the 4th Appealate District Court of Appeal, who rejected their 40-ft argument but approved the project with no seawall, and a 60-62-ft setback.

WC included this review with links to the actual court documents:

http://calapp.blogspot.com/2019/09/lindstrom-v-coastal-commission-cal-ct.html

P.S. The homeowners also own the house next door.

40th Annual Wavecrest Woodie Meet

The largest wooden-bodied car show in the country is underway! Hat tip Nancy.

This is it …… Wavecrest, the granddaddy of all woodie meets.

At Moonlight Beach at the end of Encinitas Blvd in Encinitas, CA you will experience the longest running and largest gathering of woodies in the world. Woodies begin arriving in the wee hours and by 8:00 am there are around 300 woodies of every size, shape, description on display. Throughout the day there is Hawaiian and surf music performed live, along with fabulous raffle prizes and awards for the best of the best. Wavecrest merchandise and food will be available at the event.

Friday Sept 20 Sundowner at Moonlight Beach 4:00p to 7:00p

Sat Sept 21 at Moonlight Beach 8:00a to 7:00p for Breakfast, Concerts, Sunset Dinner, Prizes and Auction.

Sunday Sept 22 8:00a Woodies Cruise Hwy 101, meet at Encinitas Civic Center.

Encinitas ADU and PRADU

For Encinitas homeowners who are considering a granny flat – or buyers who want to purchase a suitable property – this is a 7-minute primer from one of the architects who helped guide the city to their current policy (which is the most flexible in North County).

He quotes the costs to build a granny flat to be between $75,000 to $300,000, depending on size, which still sounds like too much for most people.  But he thinks that in the long run the benefits are so great that homeowners who have the right-sized property will build one.

http://encinitasca.gov/pradu

There are a lot of visual distractions in the video so just listening to the audio might be better.

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