Sparks Real Estate: Supply (Updated)
by: Sparks Marina Canal ----------------------------------
"I want you to win in the Sparks real estate market"
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About:
We'll review the number of homes for sale in Sparks for the period of November 2005 - March 2010
WIIFM (what's in it for me?):
I want you to win in the Sparks real estate market. And the best way I know how to make this happen is to help you better understand the Sparks real estate market through concrete statistics and figures. We'll keep it simple, I promise.
Highlights:
- (March 2010) Supply of homes in Sparks is down to 766.
- (January 2010) Sellers still afraid of the market. Median price seems to be settling at $150,000. Buyers of homes below $160,000: demand is great, be smart in making offers, there are a lot of buyers in this range.
- (August 2009) Prices are yet to find a bottom but I wonder if the $150,000 and below market already found a bottom. The demand has been great in this price range(first time home buyers and investors.)
- (July 2009) Trend continues: supply down, demand up! Prices are still going down.
- (June 2009) Spark's supply of homes inched up higher but is still relatively low compared to the last four years ago.
- (May 2009) Lower yet again. Supply is taking too long to catch up with demand.
- (April 2009) Lowest supply in the last two years!
- (February 2009) Homes for sale down by fifteen homes. But higher compared to the same time last year (see: graph). Could last year be the bottom of inventory??
- (January 2009) Inventory remain relatively low since I started gathering the numbers in Dec 2005 (graph below).
- (December 2008) Looks like supply is moving steadily since December of 2006. Though I'd love to see early 2006 numbers come back(see graph).
- (November 2008) Sellers are still luke warm. You can sense their lack of confidence in the market. Yet we still have more homes in the market compared to last year of the same month (Nov)
- (October 2008) Basing it on the number of homes for sale, sellers are still uneasy about the market. I reckon though that it may not be such a bad idea to sell now.
- (Aug 2008) Demand has been stable for the past two years. Supply of homes is low while prices continue to find a bottom. I hope sellers' confidence continue to grow. It's not an easy market for our neighbors in Sparks, but keep your eyes open on what's happening. This will aid you in making good decisions when the opportunity presents itself.
- (May 2008) Inventory continue to go up. Sellers are slowly capitalizing on the increase in buyers. (see: Sparks real estate: demand)
- Although sellers are starting to come out, the numbers are just average to lower compared to 2006-2007 figures (see graph).
Graph:
(click image to enlarge)Raw Numbers:
Mar '10: 766
Feb '10: 802
Jan '10: 796
Dec '09: 781
Nov '09: 832
Oct '09: 886
Sep '09: 871
Aug '09: 869
July '09: 901
June '09: 898
May '09: 923
Apr '09: 971
Mar '09: 1,027
Feb '09: 1,044
Jan '09: 1,046
Dec '08: 1,037
Nov '08: 1,069
Oct '08: 1,090
Sep '08: 1,090
Aug '08: 1,090
Jul '08: 1,085
Jun '08: 1,086
May '08: 1,038
Apr '08: 1,011
Mar '08: 976
Feb '08: 943
Jan '08: 934
Dec '07: 920
Nov '07: 1,018
Oct '07: 1,077
Sep '07: 1,130
Aug '07: 1,240
Jul '07: 1,248
Jun '07: 1,230
May '07: 1,202
Apr '07: 1,140
Mar '07: 1,088
Feb '07: 1,022
Jan '07: 1,086
Dec '06: 1,046
Nov '06: 1,190
Oct '06: 1,308
Sep '06: 1,442
Aug '06: 1,565
Jul '06: 1,617
Jun '06: 1,583
May '06: 1,548
Apr '06: 1,328
Mar '06: 1,196
Feb '06: 1,128
Jan '06: 1,083
Dec '05: 1,106
Nov '05: 1,195
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Call Joe (775-338-7653) to see the best homes at the best price in Sparks today!
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* Sparks Residential homes site/stick built
Updated: April 2010
Number of updates: 20'th
Source: Multiple listing Service via Broker Metrix
Next Release Time: May 14,2010 (Every 14'th of the month)
Your thoughts? (5)
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I was not expecting this either. I wonder what this could mean for the market. When are you releasing the SOLD's report? Thats the biggie.
Thanks for the post guys..
you make our lives harder(truth is hard sometimes) and easier
(Posted by: jojo Sy | January 14, 2008 at 01:08 PM)
Jojo,
The Sold's report will be released every 19'th of the month.
Yes, it(Sold's report) is the "biggie".
Oh, I do know what you're saying. The truth can be hard indeed.
Your welcome.
(Posted by: Ian Mariano | January 25, 2008 at 09:39 AM)
Hey guys,
Any news on Wingfield springs?
Thanks for the updates.
Posted by: Gerry | April 16, 2008 at 11:07 PM
Gerry,
It's been pretty much the same in Wingfield. There has been some significant price adjustments with their homes. Inventory is also about to go up this summer.
Posted by: Ian Mariano | April 17, 2008 at 01:32 PM
Good post. I think the past four years in the real estate market has been a roller coaster ride. The Reno real estate market reached it's peak in July 2005. "Gradually" transitioning to "rapidly" by the start of 2007.