I am happy to report that the and Spanish Springs markets took a step in the right direction for the month of April.  The number of residential listings sold in the and Spanish Springs area rose 53% in April 2008 over March 2008 and was just slightly below April 2007 numbers according to data from the Northern Nevada Regional MLS.  The average sales price was $278,595 for April 2008 which is down about 9.1% from the average sales price in April 2007 of $306,743.  Homes sold on average at 96.6% of the seller’s asking price.  The average market time for homes sold in April was 140 days. 

 

Here’s where the action was….

East Truckee River – 1% of total homes sold

Sparks – 12% of total homes sold.

East Sparks– 15% of total homes sold.

Sparks Suburban – 31% of total homes sold.

Sparks Foothills – 8% of total homes sold.

Spanish Springs South – 19% of total homes sold.

Spanish Springs West – 8% of total homes sold.

Spanish Springs East – 6% of total homes sold.

 

What is driving the sales for the month of April?  Approximately 48% of the sales for the month of April were either bank owned/REO properties or short sales (pre-foreclosures).  While this is not the best of news for sellers it does present outstanding opportunities for buyers looking to buy in the and Spanish Springs area.