Sales of single family homes in the Sparks and Spanish Springs areas dropped 17.3% in August as compared to July this year. But when compared to August of 2007 the drop is only 6.5%. The median home price in Sparks and Spanish Springs for August 2008 was $227,650, which is down from $291,500 in 2007. The average number of days homes are on the market was 133 this year compared to 106 last year.
Let's take a look at how each area is doing...
Spanish Springs East (Bridle Path etc.) accounted for 6.9% of the area's sales. Sold prices ranged from $365,000 to $650,000 with a median price of $413,950. Homes in this area were on the market an average of 172 days.
Spanish Springs South (Wingfield Springs & Cimmaron) accounted for 12.7% of the area's sales. Sold prices ranged from $215,000 to $415,000 with a median price of $300,000. Homes in this area were on the market an average of 132 days.
Spanish Springs West accounted for 13.9% of the area's sales. Sold prices ranged from $157,000 to $540,000 with a median price of $229,000. Homes in this area were on the market an average of 133 days.
Sparks accounted for 13.9% of the area's sales. Sold prices ranged from $118,900 to $199,900 with a median price of $161,000. Homes in this area were on the market an average of 91 days.
East Sparks accounted for 27.9% of the area's sales. Sold prices ranged from $145,000 to $540,000 with a median price of $208,500. Homes in this area were on the market an average of 147 days.
Sparks Foothills (D'Andrea) accounted for 9.3% of the area's sales. Sold prices ranged from $197,000 to $390,000 with a median price of $231,500. Homes in this area were on the market an average of 127 days.
Sparks Suburban (The Vistas & Kiley Ranch) accounted for 16.2% of the area's sales. Sold prices ranged from $215,000 to $333,000 with a median price of $280,500. Homes in this area were on the market an average of 131 days.
The East Sparks area and the Spanish Springs West area had the highest number of short sale and bank owned closings in August. East Sparks accounted for 29.7% of the short sale and bank owned sales, and Spanish Springs West accounted for 23.4% of the short sale and bankowned sales.
Data taken from the NNRMLS as of 9/2/08.
