During the month of March, Scripps Ranch saw a much higher number of new homes being listed than it did in March of 2013.
* 91 Homes were listed in March 2014 compared to 67 homes in 2013
Pending sales increased slightly in 2014
* 67 pending home sales in Scripps Ranch in 2014 compared to 55 in 2013
The big surprise was the increase in the median sales price for Scripps Ranch homes
Scripps Ranch Gems
* In March of this year, the median sales price was $650,000 up 9.78% from last year when the median sales price was $592,500
The percent of original list price received dropped this March
* In March 2014 97.5% was achieved compared to a more robust March in 2013 where 99.7% of the list price to sales price was recognized
Overall the months supply of available inventory in Scripps Ranch did not increase much from last year at this time keeping it a seller’s market.
* 1.7 months of available homes for sale in Scripps Ranch in 2014 compared to 1.5 months in March of 2013.
What does this all mean for Scripps Ranch homeowners?
While inventory for available homes remains at an all time low level, demand has softened a bit. However, when buyer’s do finally find their dream home, they are offering very competitive prices and thus helping to continue to drive values up in Scripps Ranch. With the shortened supply, our market in Scripps, as well as most of San Diego, remains a seller’s market.
In a competitive and complicated market like what we have today, it pays to have an aggressive, experienced Realtor on your side. Give me a call today! I can help!
Tami McCraw
