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COMMUNITY INFORMATION

The community of Scripps Ranch is situated in north San Diego County off Interstate 15 within the state of California. There are approximately 30,681 residents in this Zip code (92131) and 10,527 households. The median age of residents is 35.5.years.

TEMPERATURE

The temperature in Scripps Ranch is relatively moderate. The warmest time of year occurs in August during which temperatures reach an average high of 72°F. The coldest time of year occurs in December with average temperatures falling to 56° F.

HOME AND REAL ESTATE PRICES

The housing options in Scripps Ranch include single-family homes and properties, condominiums, townhouses, and apartments. The price of housing is as follows:

- One bedroom townhouse/condominium start in the mid 0,000s.
- Two bedroom townhouse/condominium start in the low 0,000s.
- Three bedroom townhouse/condominium start in the low 0,000s.
- Three bedroom single-family homes start in the mid 0,000s.
- Four bedroom single-family homes start in the mid 0,000s.

REAL ESTATE MARKET TRENDS

As with most products and services in the United States, price shifts in the real estate industry are subject to the forces of supply and demand. Whether it’s a buyers market or a seller’s market, it is useful to evaluate home sales data for the most recent month available (June 2006), compared against the same period in the previous year (June 2005).

The median price of single-family homes jumped from 0,000 in June 2005 to 9,250 in June 2006, which represents a 1.2% increase. Fewer homes sold in June 2006 (34 homes) than in June 2005 (43 homes). The average time to sell a home increased from 31 days in June 2005 to 41 days in June 2006. The ratio between the asking price to the sales price decreased over the past 12 months. Sellers obtained 97.6% of their asking price in June 2005, and 95.2% of their asking price in June 2006.

The median price of condominiums and townhomes dropped from 9,000 in June 2005 to 0,000 in June 2006, which represents a 2% decline. Fewer units sold in June 2006 (13 units) than in June 2005 (28 units). The average time to sell a home increased from 30 days in June 2005 to 64 days in June 2006. The ratio between the asking price to the sales price decreased slightly over the past 12 months. Sellers obtained 97.9% of their asking price in June 2005, and 96.2% of their asking price in June 2006.

Homebuyers and home sellers should keep in mind that the data above is simply a snapshot in time. Therefore, the data must be evaluated over a longer duration to understand enduring market trends.

The source for the market trends data above is ReReport.com

About the Author: http://www.sdhomedatabase.com