FCT’s Market Condition Report – November 2012

Our friends at First Centennial Title have recently redesigned their Market Condition Report — please find the new MCR for November below. (Click on report to enlarge.)

From the report’s commentary…

Price is rising at an increasing rate due to a tight market (low ratio of supply to demand [1.6]). The reader should assume that price (all other things being equal) will continue to increase on a consistent basis as long as this ratio remains in this range. Note the difficult situation in Yerington where there are 19 sellers for every buyer. This situation is deteriorating from last month. Usually, as price rises, supply will begin to rise also as sellers are attracted to the more promising price schedule. That has not occurred as of this report, but can reasonably be expected to occur in the new year. Sparks is looking very strong (seller perspective) where there is a significant excess of demand over supply. Single Family Residence comprises about 88% of total market activity.

First Centennial Title also has released a condo-specific Market Condition Report. That report can be accessed here…

Related post: FCT’s Market Condition Report – October 2012