AGENT MLS HOME FINDER

A community in the northeastern area of San Diego, Scripps Ranch, California, is a smaller community with over 30,000 residents. The community is a highly desirable neighborhood and its residents tend to be mostly affluent — its median household income was estimated at nearly $123,000, with nearly half of the city’s households bringing in $100,000 or more annually, with only 7% of the population making less than $30,000. Thus, Scripps Ranch real estate tends to be quite high-priced, and has therefore suffered some large drops and setbacks since the economy began to slide in the U.S.

According to the San Diego Union Tribune‘s zip code chart for the month of March, Scripps Ranch saw 26 single-family homes sold in March at a median price of $287 per square foot, an increase of 6% year-over-year. In March, there were also 29 condos sold in Scripps Ranch at a median price per square foot of $291, up more than 20% annually. The year-end totals for 2009 saw Scripps Ranch homes for sale saw 288 single-family homes sold for a median price per square foot of $282, down 3% annually, according to the San Diego Union Tribune Annual Chart. Meanwhile, there were 168 Scripps Ranch condos sold in 2009 at a median price of $252, down almost 9% year-over-year.

Over the past year, the median price for single-family homes for sale has not shifted too dramatically, seeing only slight rises and falls off and on throughout the 18 months. In September 2009, the median was around $725,000, and it took a gradual downslide , hitting a low of around $660,000 in May 2009 before picking back up again. As of February, the median was around $675,000. Sales of single-family homes have taken a mostly upward-trending slope through the past 18 months, picking up around May 2009 and rising thereafter.

The median price for condos in Scripps Ranch have fluctuated a bit more than home prices over the past 18 months. In September of 2009, the median was over $350,000, and since then, the prices began to fall, hitting a low of around $300,000 in August before slowly picking back up again. As of February, the median price for condos was in the $320,000 range. Condo sales have remained at between 10 and 15 per month for most of the 18 months, and just recently hit their highest point in February.