I just performed 2 land appraisals in So. Carlsbad and Encinitas this week, and I had no problems coming up with vacant site sales data for either of them. Both appraisals involved land sales west of I-5, and the Carlsbad property was located but 2 blocks east of Coast Highway.
There aren’t a lot of vacant sites west of I-5 but if someone wants to pay the extra $150k they can find one. And besides the vacant sites there are a ton of underdeveloped sites with old scrapers on them that are ripe for redevelopment should someone need a lot that badly.
I predict there will always be some new homes for sale in the coastal region at any given time.
