Silver Spring, MD Market Report – 11/01/10

01 Nov
November 1, 2010

The stats in Silver Spring really bounced around in September. One month does not make a trend so rather than pontificate, here are the stats:
Market statistics for Silver Spring, Maryland:

  • Homes for sale: 1,436 (up from 1,359 in August and up from 1,243 one year ago)
  • Homes Sold: 180 (down from 212 in August but almost the same 183 sales as one year ago)
  • Median sold price: $297,214 (down from $335,196 in August, and up from $276,986 one year ago)
  • Average days on market: 75 (pretty stable most of this year and nearly the same as one year ago when it was 76)

My prediction is that the market will be slow until after January due to the uncertainties of the elections, repeal of ObamaCare, the negative attention over foreclosure “Robosigners,” and the general malaise among many people caused by their concerns and anxiety for the future of the American Free Enterprise system. For those who are focused on their goals to buy a house, there may be some opportunities over the next 60 days to score a good deal.

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

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