Posts Tagged ‘Silver Spring’
Silver Spring, MD Market Report – 3/11/10
When we factor in the two records snowfalls in February, it is amazing that anyone sold anything! Effectively a 28 day month got reduced to about ten decent selling days, but motivation is high among buyers presently in the marketplace. They see the price gains of those who bought over the previous 15 months and they realize that the down cycle in real estate has reversed and the next up cycle has begun. Increasing consumer confidence in the DC area, low interest rates, and warmer weather is feeding more urgency into the marketplace.
Here are the market statistics for Silver Spring, Maryland:
- Homes for sale: 1,085 (about the same as last month, but down from 1,456 one year ago)
- Closed sales: 121 (down from 144 in January, but up from 86 a year ago)
- Average sold price: $334,529 (up from $317,926 last month, and up from 330,453 one year ago)
- Average days on market: 88 (down from 132 last month and down from 145 one year ago)
Areas with Silver Spring addresses comprise most of the eastern side of Montgomery County, Maryland. Silver Spring is served by four Metro stations: Glenmont, Wheaton, Forest Glen and Silver Spring.
Housing stock in Silver Spring is every size, style, age and lot size imaginable due to the large expanse that Silver Spring covers. From one bedroom starter condos to multi-million dollar mansions, there is something for everyone.
Market data and commentary provided by David Hess, Executive Vice President and Managing Broker.
Search for homes in Silver Spring, and all of the DC Metro: www.averyhess.com
Silver Spring, MD Market Report – 10/16/09
Silver Spring comprises most of the eastern third of Montgomery County, Maryland. In the southern half of Silver Spring the housing stock is older and more urban in feel, influenced by the revitalized downtown areas of Silver Spring and Wheaton, which are both serviced by Metro stations on th Red Line. There are many great retailers and restaurants, including major chains and specialty and ethnic restaurants. Transportation into Washington, DC is very good as it is served by many major access roads, buses, and Metrorail. There are single family homes of all sizes, ages and styles in Silver Spring, as well as townhouses and condominiums.
The following is a recap of the current conditions in the Silver Spring, Maryland housing market:
- Homes for sale: 1,243
- Closed sales: 213
- Average sales price: $333,335
- Average days on market: 76
Available inventory in Silver Spring is down 29% from the same time one year ago and the time it takes to sell a house has dropped from 132 days to 76. Increasing consumer confidence is largely to be credited for the improving sales data.
Silver Spring has numerous cool things to do and see. One that I will highlight here is the National Capital Trolley Museum on Bonifant Road, between Layhill Road and New Hampshire Avenue.
Market data and commentary provided by David Hess, Executive Vice President and Managing Broker.
Search for homes in Silver Spring, and all of the DC Metro: www.averyhess.com
