July sales stats are in for Scripps Ranch. A normally busy month for real estate saw a slight hiccup in sales, although not huge.
The average days on the market for single family homes rose to 39 days, in comparison to 32 days days in July of 2013. For condos, the market time was the same of 38 days. Despite the slightly longer market time, the median sales price for single family homes gained 8.6% from July of 2013 to top off at $847,000. For condos, we saw a gain as well at $380,500 compared to $377,000 for July of 2013.
Months supply of inventory rose slightly. For single family homes in Scripps Ranch, there is a 3.2 months supply of homes for sale. This is in contrast to 3.0 months in July 2013. For condos, there is a slight drop in inventory of 2.9 months supply in contrast to last year at 3.1 months.
One thing is for certain, Scripps Ranch continues to be a very solid neighborhood to invest in as homes continue to hold their value. Not to mention it is a wonderful, peaceful place to live, work and play!
Peaceful Day on the Lake
Tami McCraw
