Our friends at First Centennial Title have released their Market Condition Report for the Reno, Nevada area for the month of September. (Click on the report below to enlarge.)
Although the ratios of supply and demand remain formatted in the “green” — signaling relatively tight markets — the market velocity is easing a bit in Reno. Reno’s ratio of supply to demand value of 2.3 is up over August’s 2.2 number. On the other hand, Sparks’ Ratio of Supply to Demand value of 1.8 is down from August’s ratio of 2.0 — signaling a tightening of the Sparks’ market.
In addition to an increasing supply and decreasing demand, other seasonal trends are also beginning to appear — i.e. longer days on market and decreasing percent selling.
Related post: FCT’s Market Condition Report – August 2015
