Sparks Nevada Market Report for March 2011
Prepared By Terrie Leighton, REALTOR®, Ferrari-Lund Real Estate in Northern Nevada
Here are a few market statistics for homes sold in Sparks, Nevada during March 2010/2011:
Single family homes sold in March 2011 = 146
Single family homes sold in March 2010= 144
Medium sold price in March 2011 = $164,000
Medium sold price in March 2010 = $162,801
Days on the market in March 2011 = 91
Days on the market in March 2010 = 108
Sparks, Nevada single family homes sold with special conditions, i.e. short sale or bank owned:
Short Sales:
Short Sale properties sold in March 2011 = 45
Short Sale properties sold in March 2010 = 52
Days on the market in March 2011 = 191
Days on the market in March 2010 = 191
Medium sold price in March 2011 = $170,000
Medium sold price in March 2010 = $145,000
Bank Owned:
Bank Owned properties sold in March 2011 = 43
Bank Owned properties sold in March 2010 = 39
Days on the market in March 2011 = 77
Days on the market in March 2010 = 64
Medium sold price in March 2011 = $143,200
Medium sold price in March 2010 = $149,500
The Sparks Real Estate Market decreased by nearly 20% from 2010 to 2011. The number of units sold are slightly higher over the same time last year of single family homes sold.
The absorption rate has halted its increase and is remaining steady for the short term. This signals that demand/supply realities are not changing significantly. It is any ones guess if this trend will continue throughout 2011 and/or into 2012.
It is still a great time for Nevada home buyers to purchase. Home prices are low and inventory is high. Interest rates are still low and Nevada has many first time home buyer mortgage programs to choose from.
If you need help find a Northern Nevada Home to buy, contact me for all your real estate needs today. Search the MyRenoHomeSearch website for current listings in the Sparks, Nevada area any time!
Sparks Nevada Market Report For March 2011
Sparks Nevada Market Report for January 2011
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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
Terrie,
So how do the numbers compare to last year? Are prices getting better?
Ann Hayden in Wildwood, MO