FCT’s Market Condition Report – May 2013

Our friends at First Centennial Title have released their Market Condition Report (MCR) for May. (Click on the report below to enlarge.)

Commentary from May’s MCR…

Demand down 11 (-1.5% per month), Median Price up $4.383 (2.4% per month), and days on the market is off a minor -1.2 per day per month (.8%) on a base of 144 days. Additionally, there is historically low supply relative to demand. These trends are in line with other areas surveyed. Because the seller/buyer ratio is low (1.3), expect the price trend to continue. Condo/Townhome is even tighter than SFR. The market has settled into a trend of rising prices,robust demand and limited supply.

Related post: FCT’s Market Condition Report – April 2013