Sparks real estate: Only 11 homes available for $100,000 - $170,000 prices.

"Not enough supply to feed the hungry beast of first time home buyers and investors."

Last Monday we looked at Reno's $100,000 - $170,000 market.  I won't dare forget Sparks.  A wonderful & bustling city (sales increased by 45%; see graph below). 

Only 11 homes were available (check conditions below).  And my friend, it's not summer yet. 

This is what will bring a price bottom for Sparks real estate--not enough supply to feed the hungry beast of first time home buyers and investors.

For Sparks areas (with MLS areas):

• Sparks (180)
• Sparks-East (181)
• Sparks Suburban (182)
• Spanish Springs-South (183)
• Spanish Springs-West (184)
• Spanish Springs-East (185)
• Sparks-Foothills (188)

Conditions:

• Area: Sparks, NV
  
• Price: $100,000 - $170,000
• Active homes only (all homes that are available in the market/MLS)
• 3 bedrooms
• 2 bathrooms
• 2 garage
• HOA (home owner's dues): $0 - $50 Only
  

Sparks real estate 45% increase in home sales: last year vs this year

(click to read notes and enlarge image)




Sparks real estate demand: the last five years

(click to enlarge)


Sparks has come out of Reno's shadows (was it ever?).  It has an identity all in it's own.  The charm of the small town appeal and yet they have managed to grow where "everything you have in Reno we have here"--and sometimes even more!

Here are some of my favorite places in Sparks:

•  Sparks Marina

•  Legends at Sparks Marina

•  Legends Shopping

•  Sparks farmer's market