Silver Spring, MD Market Report – 7/19/11

19 Jul
July 19, 2011

May 2011 statistics for Silver Spring, Maryland were down for the most part in comparison to the month of April and to May of 2010.

Inventory is down so the bright spot is that Median Sold Price is up across the entire area of Silver Spring.  With 20905 stretching as high as +22.71% increase in Median Sold Price.

Of all the zip codes that encompass Silver Spring 20910 gained the most ground in May of this year with a Total Sold Dollar Volume of $17,182,300.  This is up +109.41% over April.  YEA!

For more details see charts below:
May 2011 Real Estate Market Statistics for : SILVER SPRING, Maryland

20901 Silver Spring, MD

Statistic Values YoY MoM
Total Sold Dollar Volume $11,819,750 -4.77% -4.14%
Closed Sales 32 0% -8.57%
Median Sold Price $399,750 +5.27% +13.24%
Avg Sold Price $369,367 -4.77% +4.84%
Avg Days on Market 72 days +118.18% -13.25%
Avg Sold to Orig List Ratio 94.72% -2.75% +3.37%

20902 Silver Spring, MD

Statistic Values YoY MoM
Total Sold Dollar Volume $9,610,650 -11.2% -6.66%
Closed Sales 33 -17.5% -15.38%
Median Sold Price $299,000 +3.64% +17.95%
Avg Sold Price $291,232 +7.63% +10.31%
Avg Days on Market 78 days +110.81% -15.22%
Avg Sold to Orig List Ratio 94.65% -0.04% +4.11%

20903 Silver Spring, MD

Statistic Values YoY MoM
Total Sold Dollar Volume $1,822,400 -48.19% +11.93%
Closed Sales 7 -56.25% +16.67%
Median Sold Price $280,000 +24.44% -3.13%
Avg Sold Price $260,343 +18.43% -4.06%
Avg Days on Market 95 days +115.91% +86.27%
Avg Sold to Orig List Ratio 87.43% -7.47% -0.95%

20904 Silver Spring, MD

Statistic Values YoY MoM
Total Sold Dollar Volume $12,876,460 -5.46% +86.91%
Closed Sales 44 +7.32% +76%
Median Sold Price $310,000 -12.68% +5.98%
Avg Sold Price $292,647 -11.91% +6.2%
Avg Days on Market 85 days +46.55% -14.14%
Avg Sold to Orig List Ratio 93.4% -2.33% +5.7%

20905 Silver Spring, MD

Statistic Values YoY MoM
Total Sold Dollar Volume $6,952,500 -17.64% +40.88%
Closed Sales 18 -5.26% +28.57%
Median Sold Price $433,500 +7.04% +22.71%
Avg Sold Price $386,250 -13.06% +9.57%
Avg Days on Market 74 days -1.33% -17.78%
Avg Sold to Orig List Ratio 92.42% -3.46% +2.76%

20906 Silver Spring, MD

Statistic Values YoY MoM
Total Sold Dollar Volume $14,958,524 -31.28% -1.86%
Closed Sales 68 -26.09% -2.86%
Median Sold Price $226,000 -2.8% +22.33%
Avg Sold Price $219,978 -7.03% +1.03%
Avg Days on Market 98 days -6.67% -23.44%
Avg Sold to Orig List Ratio 94.48% +1.22% +3.37%

20910 Silver Spring, MD

Statistic Values YoY MoM
Total Sold Dollar Volume $17,182,300 +0.99% +109.41%
Closed Sales 32 -15.79% +77.78%
Median Sold Price $530,000 +7.51% -0.09%
Avg Sold Price $536,947 +19.92% +17.79%
Avg Days on Market 63 days +142.31% -30%
Avg Sold to Orig List Ratio 96.35% -0.79% +3.68%

More about : SILVER SPRING, MARYLAND

Silver Spring is a suburb of Washington, D.C. in Montgomery County with both urban and suburban areas.  Its borders go 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.

 

Silver Spring is filled with historic places such as the National Park Seminary, Acorn Park and the actual Silver Spring for which the city was named; many parks and recreation centers and the newly revitalized City Place in the heart of Silver Spring.  Among some of the other notable landmarks in Silver Spring are the world headquarters of Discovery Communications, the AFI Silver (theater) and the world headquarters of the Seventh Day Adventist Church which can be seen towering above the Capital Beltway.

 

Silver Spring is home to a number of parks including:

 

Rock Creek Park, Sligo Creek, Jesup Blair Park,Wheaton and Regional Park

 

The renovation of City Place has brought new life to downtown Silver Spring with the opening of fine shops, restaurants and an outdoor shopping plaza where musical and ethnic festivals are held.

The large area, ethnic diversity, housing and neighborhoods to fit any lifestyle make Silver Spring a most desirable place to live.

Market data and commentary provided by Kathy Fleskes & Serena Toro, Rockville Regional Office.

Search for homes in Silver Spring, and all of the DC Metro: www.averyhess.com

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