20901 Silver Spring, MD Home Sales July 2012

By
Real Estate Agent with Thompson Company, REALTORS MD594797
http://actvra.in/G8k

The July 2012 Homes Sales Statistics for 20901 Silver Spring, MD show a big improvement over the same period a year ago.

43 properties sold in 20901 during July 2012 after an average of 58 days on the market. The average price of $378,472 is up by about 7% compared to July 2011 and slightly higher than the average price during the 2nd quarter of 2012. The average price for detached homes only was $407,891 compared to $398,269 for July '11.

The most significant improvement can be seen in the number of closed transactions. During July of 2011 only 17 properties sold in 20901 compared to the 43 during July '12. It shows that both, seller and buyer confidence is up, more sellers can afford to sell and more buyers are out house-hunting. Slow and steady price increases, continued record low interest rates and 20901 Silver Spring's desirable location have certainly helped the market improve.

Currently there are 59 properties For Sale in 20901 - 12 of which were newly listed in July 2012. The average list price is $409,393 for all properties and $455,867 for detached homes.

Looking at July's sales pace and the number of homes active on the market gives us a very low absorption rate of only 1.4. This means that it would take less than a month and a half for the current inventory to sell if July's sales pace were to continue and no new listings were added. An absorption rate of 0-3 months is considered a seller's market.

If you would like to take advantage of the seller's market in 20901, please give me a call.

Looking for a home in Silver Spring, MD? I can help you with that!


Posted by

ANDREA BEDARD, M.A. ~ THOMPSON COMPANY, REALTORS ~ LIVING MARYLAND BLIPS

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Thompson Company, REALTORS
15711 New Hampshire Ave Silver Spring, MD 20905
o: (301) 384-9177 c: (240)593-2860
andreabedard@mris.com

Maryland Home Search

Andrea is a REALTOR® based in Silver Spring, MD. She has enjoyed assisting buyers, sellers and renters since 2004 and focuses on residential Real Estate in  Montgomery and Howard County, MD. Andrea is a proud mom of two girls and hobby decorator with a vintage soul. She enjoys everything beautiful in life and always answers the phone with a smile.

 

 All photographs are my own and I'd like to keep it that way. All information is deemed reliable but not guaranteed.

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Tammy Lankford
Lane Realty Eatonton, GA Lake Sinclair, Milledgeville, 706-485-9668 - Eatonton, GA
Your Lake Sinclair Expert (706-485-9668)

First I have to say it took me long while to figure out 20901 was a zip code.  Speaks to my exhaustion level, not your post.  Great news that more homes are selling.  Hopefully that will equal less inventory and eventually higher prices.  Happening in my area, but quick a SLOW progression.

Aug 09, 2012 04:09 PM #1
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Andrea Bedard
Thompson Company, REALTORS - Silver Spring, MD
M.A.; REALTOR Silver Spring, MD and beyond

Hi Tammy, I don't always recognize the zip-codes in other areas as zip-codes :-) The jump in number of sales is pretty big news .. and prices are following, too.

Aug 09, 2012 06:52 PM #2
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Rainmaker
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Andrea Bedard

M.A.; REALTOR Silver Spring, MD and beyond
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