We are all keeping a very close eye on what is selling in our areas. Here is an update on what has sold between June 1, 2008 and June 16, 2008 in the Sparks and Spanish Springs area.
| AREA | % of Sales | % Bank/Short Sale | Average Sold | Avg.List/Sold | Avg. DOM | Avg. Age | Avg. Sqft. |
| 180 – Sparks | 10% | 33% | $218,034 | 100.80% | 265 | 1961 | 1582 |
| 181 – East Sparks | 16% | 80% | $198,360 | 98.70% | 52 | 1973 | 1706 |
| 182 – Sparks Suburban (The Vistas) | 29% | 44% | $329,267 | 99.50% | 138 | 1997 | 2290 |
| 183 – South Spanish Springs (Wingfield) | 16% | 60% | $344,600 | 92.30% | 170 | 2003 | 2601 |
| 184 – West Spanish Springs | 16% | 60% | $292,480 | 98.70% | 101 | 1996 | 2058 |
| 185 – East Spanish Springs (Bridle Path) | 6% | 0% | $375,000 | 97.10% | 153 | 1999 | 2160 |
| 188 – Sparks Foothills (D’Andrea) | 6% | 50% | $253,750 | 97.70% | 132 | 2002 | 1615 |
The Sparks Suburban area which consists of The Vistas, Kiley Ranch, and Mesa Meadows continues to have the strongest rate of sales. The number of bank owned and short sales overall in the Sparks/Spanish Springs area remains high at about 51.6% of the sales so far this month. The majority of those are bank owned with only about 6.4% of the sales closing being short sales.
Prices seem to be leveling off and the list-to-sales ratios in most areas (except Wingfield Springs) are above 97%. We are still seeing average days on market over 100 days for most areas.
We are continuing to see a very good buyers market in the Sparks and Spanish Springs area. Sellers looking to sell right now in these areas must be priced to compete with the bank owned listings in their neighborhoods.
