Market Condition Report – April 2010

Thank you to our friends at First Centennial Title for providing April’s Market Condition Report below. Click on the report below to view.

From the Report:

  • OVERVIEW: Closings increased again in April boosting Market Speed. Prices have firmed for both types and are on the rise. Buyers who have been sitting on the fence should make their move now. See from the graph that even though the long term price trend has been negative since mid 2006, prices have now bottomed and are beginning to rise.
  • SUPPLY (ON MARKET): Off about 300 units for SFR and 40 units for Condo.
  • DEMAND (SOLD PER MONTH): Demand jumped 54 units for SFR and 17 units for Condo.
  • FAILURES (EXPIRE-WITHDRAW): SFR and Condo steady with a positive propensity in the short run.
  • IN ESCROW (FUTURE CLOSINGS): SFR and Condo inventory in escrow maintaining current levels. This suggests that the recent surge of closings is being replaced by new escrow entry.
  • PERCENT SELLING: No significant movement.
  • MONTHS SUPPLY: This key measure is tightening by about a month for SFR, while Condo tightened by 2.5 months. This bodes well for continued positive price movement.
  • MARKET SPEED: The pace of the Reno market is rising consistently. The best performing Reno sub-market remains the perennial favorite, Fernley SFR, returning a Market Speed of 46 (up 5 points from last month). The slowest is Yerington SFR at 18.

Past MCR reports:

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About Guy Johnson

I am a licensed Nevada REALTOR® living and working in Reno, Nevada. Give me a call at 775-722-4011. My team and I will be happy to assist you with your real estate needs.
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52 Responses to Market Condition Report – April 2010

  1. Avatar Sully says:

    Parnell, I’m not sure what exactly you are trying to compare when you include two CEO’s of private companies with a city manager. You are trying to compare performance driven compensation with those that are not.

    In other words, you have a position that thrives off the public teat and ones that make you work for your money. No apples to apples comparison.

    When times were good these salaries might have been necessary for competitive reasons, however we see how that worked out.

    Maybe its just me, but I have lots of experience working around welfare offices in CA. If you saw how many people actually did any work during the day, you would probably go ballistic. I watched one guy spend the entire day smoking cigs (outside of course) for the full week I was there. His supervisor was busy talking to friends on the phone (all day, except for lunch break). BTW, this was pretty much the same scenario throughout the office.

    So when you say it looks like these compensation levels are appropriate for the given size of the operation, perhaps the size needs to be reduced!

  2. Avatar Agnostic says:

    “Buyers who have been sitting on the fence should make their move now.”

    Really?

    ‘Mortgage Applications Plummet To 13-Year Low As Tax Cuts Expire’

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