Cmon I know how much time you put into this and would not be surprised at all. I neverf said large custom homes with large lots no HOA or Mello Roos were inferior to tract homes. I specifically called out that property and the lot is not great at all. I also compared it to Olivenhain customs not tract homes so you are barking up the wrong tree here.
I would agree that the market for high end is soft but that softness doesnt start until at least $1.3M and more accurately around $1.5M. Below that there is ample demand to soak up everything and when desirable homes above that range drop there are hoards of buyers waiting. I just ran some stats for a client that makes you look like a bull.
Do you realize that on average in Encinitas/South Carlsbad there is a closing EVERY DAY between $800K and $1.2M? When you look at pendings and contingents you see stats that indicate those numbers would be closer to 2 closings every day if there was good inventory priced at current market levels in that range.
