Sparks (including Spanish Springs) had 447 sales of existing single-family homes in 2012’s first quarter, an increase of 12 percent from the same time period last year and a decrease of just under 3 percent from the previous quarter. The Sparks’ median sales price for an existing single-family residence in the first quarter of 2012 was $142,000, a decrease of 5 percent from last year and a 2 percent decrease from the fourth quarter of 2011.
The existing condominium/townhome median sales price for the 2012 first quarter in Sparks was $47,620, down 3 percent from last year.
In March alone, the area saw 163 sales of existing single-family homes, an increase of 4 percent from March 2011 and a 20 percent increase from the previous month. The Sparks’ median sales price for an existing single-family residence in March was $152,247, a 6 percent decrease from last year and a 5 percent increase from the previous month.
The existing condominium/townhome median sales price for March in Sparks was $46,000, a 28 percent increase from last year.
“March 2012 sales are the second highest in the history of MLS and were only exceeded by the boom year in 2005,” said Kevin Sigstad, current RSAR president and a broker with Re/Max Premier Properties. “Although the volume of bank-owned listings has declined, they have been replaced by traditional or equity sellers in the market. This trend may be the result of investors who are seeing us entering a seller’s market and see this as an opportunity to sell.”
Countywide, single-family home sales are reported to be up 3 percent from first quarter 2011 and up 13 percent from February.
All sales numbers are for existing “stick built single family dwellings” only and do not include condominium, townhome, manufactured, modular or new home sales. RSAR obtains its information from the Northern Nevada Regional Multiple Listing Service and includes sales of foreclosure properties.