“Encinitas proper has been less subject to this it would seem. What do those numbers look like?”
I am not sure what you mean by “Encinitas proper” but I can say that in the late 90’s you could buy Encinitas houses west of I-5 in the 200-300k range. Major appreciation there over the last decade.
“Remember that 1997/1998-2001 marked the beginning of the bubble. People were already standing in lines to buy houses in 1999/2000 here.”
That is a big reach CAR. Prices were dirt cheap in the 97/98 time frame. 5000+ sq. ft. houses on 1/2 acre lots in the “Ranch” were selling in the 600-700k range.
“There is only a finite coastal space. Those that want it pay.”
I think in the case of Enc./South Cbad there are 4 major factors contributing to the rareness/demand.
1.) Coastal Lifestyle
2.) Top Schools
3.) Newer housing stock and infrastructure.
4.) Location just within reach of Sorrento Valley.
