Is Sparks, NV a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Sparks has remained a Seller's Market.
Key Takeaway
Sparks is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Sparks, NV
How much do homes in Sparks, NV cost?
Median Sold Price
$509,799
$284/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Sparks have sold for 2.1% more than they did a year ago.
Summary: The median home sold price in Sparks was $509,799 in May 2024, up 2.1% from last year, and the median price per square foot was $284.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $199.9K | $200K | 0.1% |
| 2 Bedrooms | $350K | $359.9K | +2.9% |
| 3 Bedrooms | $480K | $481.1K | 0.2% |
| 4 Bedrooms | $569.7K | $585K | +2.7% |
| 5+ Bedrooms | $669.7K | $695K | +3.8% |
Summary: Sparks housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 0.1%, 2 bedroom homes increased by 2.9%, 3 bedroom homes increased by 0.2%, 4 bedroom homes increased by 2.7%, and 5+ bedroom homes increased by 3.8%.
Median Sold Price Compared To Nearby Cities
| Reno | $529.9K | $550.1K | +3.8% |
| Reno North | $475K | $486.5K | +2.4% |
| Sparks | $499.4K | $509.7K | +2.1% |
| Warm Springs-Truckee Canyon | $549.9K | $559.9K | +1.8% |
| Sun Valley | $405K | $410K | +1.2% |
Housing Supply in Sparks, NV
How many homes are available in Sparks, NV?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 460 | 551 | +19.8% |
Summary: The Sparks real estate market had 551 homes for sale in May 2024, a 19.8% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 3 | 3 | 0.0% |
| 2 Bedrooms | 71 | 82 | +15.5% |
| 3 Bedrooms | 212 | 248 | +17.0% |
| 4 Bedrooms | 135 | 173 | +28.1% |
| 5+ Bedrooms | 39 | 45 | +15.4% |
Summary: The Sparks housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 15.5%, 3 bedroom homes increased by 17%, 4 bedroom homes increased by 28.1%, and 5+ bedroom homes increased by 15.4%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 133 | 138 | +3.8% |
Asking Price vs. Sold Price
56 Homes Were Sold
Under Asking
38 Homes Were Sold
At Asking
44 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Sparks, you may be able to get a good deal. 40.6% of homes here sold below asking price last month.
Summary: A total of 138 homes were sold or pending in Sparks in May 2024, up by 3.8% month-over-month. Of the 138 sold homes, 41% were sold under asking, 28% were sold at asking, and 32% were sold over asking.
Days on Market for Sparks, NV
How long does it take to sell a home in Sparks, NV?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 76 Days | 64 Days | -16.1% |
Summary: Homes in Sparks had an average of 64 days on market in May 2024, down by 16.1% compared to last year.
Breakdown of Home Sale Times
21 Homes Were Sold
Under 30 Days
95 Homes Were Sold
In 30 - 90 Days
22 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Sparks has remained consistent over time.
Summary: During May 2024, 138 homes were sold in Sparks; 15% of homes were sold within 30 days, 69% of homes were sold within 30 to 90 days, and 16% of homes were sold over 90 days.
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