20901 Silver Spring, MD: 3rd Quarter 2012 Market Report

By
Real Estate Agent with Thompson Company Realtors MD594797
http://actvra.in/Kfp


After a strong 2nd quarter this year, sales activity in the 20901 zip-code of Silver Spring, MD has only eased slightly. According to our regional MLS (MRIS), 106 homes sold during July, August and September 2012 with an average sales price of $366,204 after an average of 62 days on the market.

The number of sales is down from 118 and so is the average sold price which was $374,441 for all sales (including short sales and foreclosures) during the 2nd quarter .

The statistics for standard sales only during the 3rd quarter look as follows:

  • Number of sales: 86
  • avg. list price: $395,987
  • avg. sold price: $391,321
  • avg. days on market: 45


Online Graphing

Although the number of sales and average sales price are down from the 2nd quarter of this year, the very positive trend is undeniable. Compared to the same time-frame a year ago the number of sales have doubled and the average sales price has increased!


The positive trend is also evident in the steadily decreasing time it takes to sell a home in 20901 Silver Spring, MD:

Online Graphing

Considering the decreased inventory and continuously low interest rates, the trend is likely to continue. There are currently 70 pending transactions and 72 homes actively listed for sale in the 20901 zip-code of Silver Spring, MD.


Click HERE to view all Homes For Sale in 20901 Silver Spring, MD

Whether you are thinking about buying or selling in 20901, I can help!

*Please note that these are the market statistics for all of 20901 Silver Spring and conditions vary from subdivision to subdivision. Please contact me for a free market analysis if you would like to know what's happening in your specific neighborhood.*

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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Topic:
Real Estate Market Trends
Location:
Maryland Montgomery County Silver Spring
Groups:
Market Reports
Tags:
homes for sale in 20901 silver spring
3rd quarter 2012 market report 20901 silver spring md
market statistics for 20901 silver spring md

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Rainmaker
720,233
Mike Cooper
Your Winchester, VA Real Estate Pro
Winchester Real Estate Sales, Cornerstone Business Group Inc

Great market report, Andrea.  I love the graphs.   I always like to see concrete images that make data visible.  Forty-five days on the market is not bad at all. 

October 18, 2012 07:01 PM
Rainmaker
412,320
Andrea Bedard
M.A.; REALTOR Silver Spring, MD and beyond
Thompson Company Realtors

Thanks Mike! I always have to add some visualization .. the at-a-glance makes it a whole lot easier than just a wall of words and numbers.

Days on market have been cut in half, that's what low inventory and low interest rates will do!

October 18, 2012 07:26 PM
Rainmaker
497,284
Michelle Cooks
Pensacola, Pace & Gulf Breeze Property Management
Charles Stallions Real Estate Services

Kudos Andrea great information in simple form. The folks ought to be able to take this and run with it good luck

October 18, 2012 08:41 PM
Ambassador
1,394,304
Tammy Lankford
Your Lake Sinclair Expert (706-485-9668)
Lane Realty

the sales to list price is a great % there.  Must mean those houses are being priced right.  And while numbers are off...I suppose less people move when school is in because of children.  And the 45 DOM number is awesome.

October 18, 2012 08:54 PM
Rainmaker
412,320
Andrea Bedard
M.A.; REALTOR Silver Spring, MD and beyond
Thompson Company Realtors

Thanks Charles, all the info about the Real Estate market can get so incredible confusing. A few graphs show the most important things and for everyone who is interested, I'm always happy to dig deeper. But this provides a little overview and shows which way we are trending.

Hi Tammy, I def. think it's seasonal .. the overall trend is up and improving. 45 days is half than what it was a year earlier! Low(er) inventory and priced right - I've been noticing less and less over-priced listings. I think the list-to-sales price ratio is really good!

October 18, 2012 09:10 PM
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Rainmaker
412,320

Andrea Bedard

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

Montgomery & Howard County Real Estate blog

Andrea's blog is about local Real Estate, family-owned businesses, Main St USA, market stats, neighborhood info and happenings in the area.<

>It's sprinkled with sound advice and a candid perspective, sweetened by her vintage soul and topped off with her passion for Real Estate and the 2 most important people in her life.

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