AveryHess, Realtors® Blog

Silver Spring, MD Market Report – 4/05/11

Silver Spring, Maryland is certainly SHINING!

Like the beautiful city itself, housing in Silver Spring is seeing some shiny spots – despite all the doom and gloom the media is continually throwing at all of us.

The Real Estate market statistics for zip codes 20905 and 20912 are moving in the right direction.

Zip code 20905 has a Total Sold Dollar Volume up +75.49% to $3,694,000.  The number of Closed Sales versus this time last year is up 80%. This is a tremendous upswing!

Another big mover in Silver Spring is the 20903 zip code. Sporting a Total Sold Dollar Volume of $2,347,900, this number is up +265.72% in comparison to February of 2010.  Closed Sales are up +266.67% and the Median Sold Price is $230,000.

I am really excited to see what the Spring Market will bring. Improvements all around have me saying the Real Estate Market in Silver Spring, Maryland is definitely shining!

More About Silver Spring, MD:

Silver Spring is a suburb of Washington, D.C. with both urban and suburban areas.  With a community of over 76,000 people, Silver Spring is a happening place.  Its borders run as far north as Burtonsville, south to the dividing line with the District of Columbia and west to Chevy Chase and Rockville.  Silver Spring is located on the Red Line of the Metro system and the Silver Spring stop is the most used station in Maryland.

Looking for something to do outdoors this spring? Silver Spring has many amazing parks to explore:

Rock Creek Park which passes along the west side of Silver Spring, offers hiking trails, picnic grounds, and bicycling.  On weekends, its main road, Beach Drive, is usually closed to motor vehicles.

Sligo Creek Park follows Sligo Creek through Silver Spring and offers hiking trails, tennis courts, playgrounds and bicycling. On weekends, parts of Sligo Creek Parkway are also closed to motor vehicles.

Jesup Blair Park is a 14.5 acre park that has recently been renovated. In the park you’ll find a soccer field, tennis courts, basketball courts and a picnic area.

Wheaton Regional Park is located in “greater” Silver Spring and includes covered tennis courts, an ice skating rink, baseball fields, playgrounds, picnic areas, stables and Brookside Gardens, a 50 acre park with arboretums, nature center and magnificent gardens to stroll through.

Market data and commentary provided by Kathy Fleskes, Rockville Managing Broker.
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