Carlsbad is begining to crumble.

I hope we are past the argument that coastal is holding up. Here’s one data point that puts North Carlsbad back to early 2004 pricing.

Current Listings:
2351 Merwin – $679K – $286 sq/ft -Last Sale: $635K 1/04
5059 Ciardi – $650K – $271 sq/ft – Last Sale: $779K 12/05
3864 Stoneridge – $650K – $244 sq/ft -Last Sale: $735 – 4/05

Recent Comps:
5089 Lynch – $690K – $287 sq/ft – 9/07
4680 Meadow – $679 – $275 sq/ft – 9/07

Take Merwin down to $271 sq/ft and you are at $641K, just a smidge above 1/04 pricing.