“Encinitas has had no closed sales along Neptune or their other seafront streets in the last 9 months, although there’s one pending right now overlooking Moonlight Beach. There are currently 8 or 9 listings.”

Bugs,
You really need to do your homework better. There have been 4 closed sales on Neptune in 2006 per the MLS and 1 more pending. Neptune also frequently has private sales that dont appear in the MLS. There are 13 homes currently on the market there. In 2005, there were 5 sales on Neptune. I know of other homes (attached and detached) that have closed on seafront streets in Encinitas also.