Sparks, Nevada Market Statistics for Ferbruary 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 February 2010/2011:
Single Family Homes Sold in February 2011 = 130
Single Family Homes Sold in February 2011 = 118
Medium Sold Price in February 2011 = $145,000
Medium Sold Price in February 2011 = $165,000
Days On The Market in February 2011 = 99
Days On The Market in February 2010 = 105
Sparks NV Short Sale Properties: Of the 130 single family homes sold in Sparks during February 2011, 37 homes were short sale properties. The medium sold price was $127,000. Short Sale properties were averaging 8 days on the market.
There were 46 short sale properties sold this same time during February 2010. The medium sold price during that time period was $165,000. The average time spent on the market was 176 days.
Sparks NV Bank Owned Properties: There were only 39 bank owned properties sold in February 2011. The medium selling price for single family bank owned property last month was $127,000 and spent an average of 81 days on the market.
During the same time period in 2010, there were 33 bank owned properties sold during the month of February. The average list price was $165,00 and lasted 65 days on the market.
The Sparks Real Estate Market decreased by nearly 20% in price from 2010 to 2011. The number of units sold are slightly, ever so slightly, up over the same time last year for 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.
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 assistance buying or selling in Northern Nevada, contact me for all your real estate needs today. I look forward in helping you find the right home to buy or sell.
Sparks Nevada Market Report for February 2011
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