Our friends at First Centennial Title have released their Market Condition Report for the Reno, Nevada area for the month of June. (Click on the report below to enlarge.)
Nothing but green. Green tinted cells signal tight markets — from a Ratio of Supply to Demand standpoint — in the specified areas. All other things being equal, the smaller the Ratio of Supply to Demand, the tighter the area market.
Reno’s Ratio of Supply to Demand value of 1.9 is up slightly from last month’s 1.8 number, however remains extremely low. Sparks’ Ratio of Supply to Demand value of 1.2 is unchanged from last month’s 1.2 number, and also remains extremely low.
Also noteworthy is the difference between the median “in escrow” price and the median closed sales price report for the areas. The June report shows that Reno properties exhibit a median “in escrow” price of $300,000 and a median closed sales price of $295,000. This difference of only $5,000 indicates that properties are selling at only a 1.7 percent discount.
related post: FCT’s Market Condition Report – May 2015
FCT’s Market Condition Report – June 2015 | bestreno241
[…] Our friends at First Centennial Title have released their Market Condition Report for the Reno, Nevada area for the month of June. (Click on the report below to enlarge.) Nothing but green. Green tinted cells signal tight markets — from … Continue reading → […]
FCT’s Market Condition Report – August 2015 | Reno Real Estate Blog
[…] in the “green” — signaling relatively tight markets — the market velocity is easing a bit. Reno’s ratio of supply to demand value of 2.2 is up over June’s 1.9 number. Similarly Sparks’ Ratio of Supply to Demand value of 2.0 is also up from June’s ratio of […]