Sparks Nevada Market Report for December 2010

Sparks Nevada Market Statistics for December 2010

Prepared By Terrie Leighton, REALTOR®, Ferrari-Lund Real Estate in Northern Nevada

Here are a few market statistics for homes sold during the months of December 2009/2010:

Single Family Homes Sold in Sparks for December 2010 = 146

Single Family Homes Sold in December 2009 = 146

Medium Sold Price in December 2010 = $155,000

Medium Sold Price in December 2009 = $175,000

Days On The Market in December 2010 = 110

Days On The Market in December 2009 = 92

Sparks NV Short Sale Properties: Of the 146 single family homes sold in Sparks during 2010, 46 homes were short sale properties. The medium sold price was $154,550. Short Sale properties were averaging 156 days on the market.

There were 46 short sale properties sold this same time during December 2009. The medium sold price during that time period was $162,000. The average time spent on the market was 167 days.

Sparks NV Bank Owned Properties: There were 50 bank owned properties sold in December 2010. The medium selling price for single family bank owned property was $133,950 and spent an average of 95 days on the market.

During the same time period in 2009, there were 52 bank owned properties sold in December. The average list price was $162,500 and lasted 65 days on the market.

The Sparks Real Estate Market seems to be holding steady from 2009 to 2010. The number of units sold are consistent with last years single family homes sold.

The absorption rate has halted its increase and is remaining steady for the short term. This signals that demand/supp;y realities are not changing significantly.

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 December 2010