In February, these sellers bought our listing in Aviara Point for $3,365,000. They moved, then just sold this beach-close newer one-story with killer garage. They made out good too:
Bought 10/17/22 for $2,900,000
Sold 10/22/24 for $3,500,000
The highest sale in Encinitas was the Crescent House for $16,250,000. But that was in May, 2023. Will anyone be surprised if they get close to the $24,850,000 here? Not me. I think I said $28 million in the video but it was the previous agent who had it for $27,500,000 last year.
Introducing a rare gem in coastal luxury, 1230 Neptune Ave in Encinitas, CA, represents the pinnacle of new construction and the last opportunity of its kind for an oceanfront residence on the California coast. This magnificent 7,089-square-foot home is a showcase of architectural mastery and exclusive living, uniquely permitted on a coastal bluff where such development will no longer be allowed. Just 12 minutes from Carlsbad Airport, your unparalleled oceanfront escape awaits. Step inside to discover an entryway that ushers you into a realm where luxury meets breathtaking ocean views. The home is equipped with a commercial-grade elevator, ensuring effortless navigation throughout. Each room is designed to frame the Pacific Ocean through expansive glass windows, seamlessly integrating the horizon into your daily life. This home boasts unparalleled amenities, including four bedrooms, seven bathrooms, a state-of-the-art theater, a sophisticated bar and lounge, and a refined wine cellar, each space meticulously crafted for luxury and entertainment. The private bluffside terrace offers a serene retreat, surrounded by complete privacy and spectacular ocean views. For relaxation and rejuvenation, the in-home spa and sauna provide a sanctuary of wellness. Exclusive beach access invites you to enjoy the enchanting coastal ambiance of Encinitas directly from your doorstep. The first and last of its kind.
The full story behind the build:
https://robbreport.com/shelter/homes-for-sale/encinitas-most-expensive-listing-for-sale-1235806433/
We knew that Toll Bros are building 42 homes next to the Chevron gas station on La Costa Avenue and the freeway. They are doing the same treatment as the builder did at Halia – burying the contaminants instead of removing:
David Hill, a Batiquitos Lagoon Foundation board member who specializes in water quality management, criticized the developers for encapsulating rather than removing what he said were 6,300 tons of hazardous materials, including organochlorine pesticides, buried beneath the planned homes.
Another surprise is the planned hotel to be built next door:
https://thecoastnews.com/encinitas-advances-two-proposed-la-costa-avenue-developments/
The guy doing the hotel has designed quite a few homes too. Here’s one:
Hat tip to just some guy for sending this in!
Scroll over the second graph to see how far we’ve come:
BTW in March, 2010, the 30-yr fixed rate was 4.95%.
This is a Compass listing now and it made the Robb Report:
https://robbreport.com/shelter/homes-for-sale/encinitas-most-expensive-listing-for-sale-1235806433/
A newly built bluff-top home in Southern California has come along to claim the title of Encinitas‘s most expensive listing. The residence, perched on a bluff overlooking the ocean at 1230 Neptune Avenue, is on the market for just shy of $25 million with Khaki Wennstrom of Compass; the San Diego County abode could set a new sales record for the area if it sells at or near the asking price. The 7,089-square-foot home, with four bedrooms and seven-and-a-half baths, sits above a secluded beach. The coastal gem is being offered up by seller and real estate developer Peter Kerserovich.
“I was particularly drawn to this lot due to its exceptional sandstone bluff on the oceanfront,” Keserovich said in a statement. “Unlike other locations, such as Malibu where the water flows beneath the homes, San Clemente with its sandy beaches, or Del Mar with its sand and seawalls, Encinitas offers a unique vantage point. Situated approximately 65 feet above the water, the view from this property is superior compared to properties directly on the water.”
According to the listing, Kerserovich snapped up the parcel in 1997, before sea level rise regulations were put into effect in 2012, which limit a home’s size and proximity to the water. He began building the stately spread in 2014 and finished only recently, making it a project that was a whopping 10 years in the making.
“Our bluff features robust sandstone, which we meticulously hand irrigate to maintain stability and prevent erosion,” Kerserovich explained. “This location benefits from excellent geotechnical strata and is conveniently located just six blocks from public access. Additionally, the property includes a viewing deck equipped with WiFi and electrical outlets, offering privacy and seclusion.”
Designed with no expenses spared, the sprawling estate is kitted out with three Tesla Powerwalls in the garage, a state-of-the-art theater with a $200,000 microLED video wall, and a commercial-grade elevator. You’ll also find a slew of swanky amenities such as a gym, a sauna, and a wine cellar. Other highlights include a dramatic 18-foot entryway fronted by a massive 800-pound pivot door and a custom planar metal gate that retracts underground. None of that’s to mention the upper-floor primary suite, which sports a deck that’s inspired by the bow of a yacht with polished Burmese teak wood.
https://www.compass.com/listing/1230-neptune-avenue-encinitas-ca-92024/1554477838353308865/
List price is $1,380,000:
The agri-hood at the top of the hill in Leucadia – where new homes surround a 3-acre farm – also has a restaurant too that has locals buzzing:
https://sandiegomagazine.com/food-drink/haven-farm-fox-point-farms/
They have new homes but most are sold out currently. They have 1-br condos available from $945,000:
https://www.sheahomes.com/new-homes/california/san-diego-area/encinitas/fox-point-farms/
This is only two blocks to Moonlight Beach so it would make a great short-term rental, and it has history:
Zillow has every reason to be the nation’s real estate cheerleader since they derive the bulk of their income from realtors. They had been predicting 3% to 6% appreciation locally this year….at least up until two weeks ago.
Something has changed:
Carmel Valley out in front with a +2% over the next year? Yikes!
It means they think that everywhere else will be flat, at best.
People were asking about the train noise at our new listing on Vulcan in Encinitas. Here is a sampling:
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