Sparks, Nevada Market Statistics for January 2011
Prepared By Terrie Leighton, REALTOR®, Ferrari-Lund Real Estate in Northern Nevada
Here are few market statistics for home sold in Sparks, Nevada during January 2010/2009:
Single Family Homes Sold in Sparks for January 2011 = 96
Single Family Homes Sold in January 2010 = 84
Medium Sold Price in January 2011 = $153,125
Medium Sold Price in January 2010 = $177,250
Days On The Market in January 2011 = 124
Days On The Market in January 2010 = 101
Sparks NV Short Sale Properties: Of the 96 single family homes sold in Sparks during January 2011, 39 homes were short sale properties. The medium sold price was $154,000. Short Sale properties were averaging 162 days on the market.
There were only 30 short sale properties sold this same time during January 2010. The medium sold price during that time period was $170,000. The average time spent on the market was 158 days.
Sparks NV Bank Owned Properties: There were only 23 bank owned properties sold in January 2011. The medium selling price for single family bank owned property was $136,00 and spent an average of 88 days on the market.
During the same time period in 2011, there were 27 bank owned properties sold during the month of January. The average list price was $170,00 and lasted 66 days on the market.
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 anyones 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 help find a Northern Nevada Home to buy, contact me for all your real estate needs today.
Sparks Nevada Market Report For January 2011
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