IMHO, that area of Encinitas is one of the most overpriced areas because most of the residents there are “regular people” who probably earn between $50K and $100K per household. This location has experienced some of the more dramatic price drops in Encinitas because it was the most unsustainable and is the “entry” market in Enc.
I think prices in the NE area (relative to ECR/Enc Blvd intersection) will drop to around $230K-$300K and prices in the SE area will be slightly above this (because the houses and lots are generally larger).
There have been a few better-looking listings lately, compared to peak prices, so if you are seriously considering buying right now, try to get something under $500K for a 3/2. I would highly recommend waiting at least another year, and try to time your purchase around November, as seasonal factors do make a difference.
