It sold for $1.1MM in 2002, and the price just dropped to $1MM, and it went contingent.
I’ve seen homes in the $1MM+ range that are priced around 2000/2001 levels. It’s no surprise these would sell.
In the meantime, it looks like close to half of the SFHs in Encinitas (??didn’t count exact numbers??) are listed for $900K and up. Many of these homes have been sitting for a long, long time. While some homes do sell, I’m not seeing nearly the demand you are for these properties.
What *is* strong is the $500K-$750K market. If a decent home is priced in this range, it goes quickly.
