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.

Cape Cod real estate continues to struggle as a result of the economic turmoil brought about by the recession that began in the fall of 2008. The region in Massachusetts continues to suffer from dramatically declining home prices and home sales. However, recent weeks have shown an increase in mortgage filings, suggesting that the increase in refinancing activity may mean some improvement in the months to come. Many high-end communities offering luxury homes are especially suffering from dropping property values. However, some properties, often oceanfront homes, have maintained a steady value and sometimes even sell for more than the original selling price. Commercial real estate has also remained fairly strong in terms of median sales prices.

The Cape Cod Times has reported that Barnstable, one of the most notable communities in the Cape Cod region has suffered sharp declines in median prices totaling over $1 billion. Both residential and commercial properties in Barnstable have suffered drastic declines in value, averaging a 7.9 percent decline from the previous year. Many experts note that these large drops in property values will most likely result in a tax exemption increase for many Barnstable residents. The median property value for a home in Barnstable is not $311,150, a 6.4 percent decline from $342,600 in the previous year. However, real estate experts have also noted that the rate of foreclosures in Barnstable have also stabilized. Other neighborhoods throughout the Cape Cod region have also suffered large property value drops, sometimes as much as 12 percent.

For the region as a whole, the Cape Cod Times has reported that Cape Cod real estate prices are beginning to level off, showing smaller amounts of declines in the recent months. In August, the median sales price in Cape Cod was $295,150, a 1.6 percent decline from August 2008. The gap between this year’s and the previous year’s real estate prices is steadily decreasing. The number of home sales in Cape Cod has also decreased 7.8 percent from 490 in August of 2008 to 452 in August of 2009. However, recent months have also shown an influx in mortgage filings, marked by a 24.2 percent increase between August of this year and August of the previous year. Experts believe that the favorable low interest rates have been the main incentive for the recent increasing in refinancing activity. Many real estate experts believe that the recent increase in mortgage filings may be a sign that recovery is near.