~Sparks Nevada Market Report for September 2009~
Here are your market statistics for single family homes in Sparks, Nevada for September 2009:
There were 160 single family homes sold in Sparks, Nevada during September 2009. 30 more homes were sold in September compared to August 2009. Only 130 single family homes were sold last month.
Of the 160 homes sold in September, 69 homes sold were Bank Owned and 44 homes that sold were Short Sale properties.
The average sold price of a single family residence in Sparks, Nevada during the month of September was $182,111 with an average of 130 days on the market. During August 2009, the average sold price was $188,464 while staying on the market only 107 days.
The average price of a sold bank owned property during this time was $152,937 with an average of 91 days on the market.
The average price of a sold short sale property during this time was $207,976 with an average of 202 days on the market. Short sale properties are taking twice as long to close once they receive an offer as bank owned properties.
Currently there are 848 single family homes listed for sale in the Northern Nevada Regional Multiple Listing Service in Sparks, Nevada. 484 of these listings are active pending short sale. This means they are waiting for third party approval.
The average list price of a single family residences in Sparks, Nevada is $134,000. The average list price during the month of August was $165,000. Home prices appear to have dropped approximately $30,000 from last month.
From this report we can see that existing homes sales continue to drop in Sparks, Nevada as foreclosures continue to maintain a strong influence in our market. Short sale properties are staying on the market longer and foreclosures are seeing quick closing periods.
Sparks Nevada Market Report for August 2009 ~ The numbers posted in this market report are believed to be accurate but are not guaranteed.
Sparks Nevada Market Report August 2009
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REALTOR®
Certified Distressed Property Expert (CDPE)
Certified Default Resolution Specialist (CDRS)
Short Sales & Foreclosure Resource ~ Certified (SFR)
Ferrari-Lund Real Estate
775.846.5424
Hi Terrie;
I thank you for sharing your market report with us, I wish you the best of luck.
Terrie: Great format, picture and information. 202 days for a short sale - much like here!!!
Terrie nice work keeping everyone up to speed with what is going on in the Sparks Nevada Real Estate market!
Terrie, great summary. Sure does look like your area is like most others, glutted with foreclosures and short sales...
Anthony ~Best of luck to you in your market as well!
Jane ~ California and Nevada are very similar with short sale closings!
Thank you Bill!
Kristin ~ We do have a lot of foreclosures and short sales in our area and many other areas as well.