Sales Fall in Silver Spring Real Estate Market

In this week's report, the number of homes sold in the Silver Spring market fell to 51 over the past 30 days. It marked a decrease of 10.5% from last week's report and another period below the monthly average. On the other hand, close-by Washington registered 540 homes sold in the same time frame, the most of all surrounding cities. The median sales price of all transactions in Silver Spring did not budge this week, remaining at $480,000. In spite of the decrease in sales, a low one month of inventory signals that Silver Spring is a definite seller's market.

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Demographic facts for Silver Spring:

  • Over the past 10 years, the population has increased 7.8%.
  • The lifestyle rating for this area is 67. (Scale: 1 = Worst, 100 = Best)
  • Residents who travel to work by car account for 51.0% of all commuters, while carpools account for 12.0%, and public transit makes up 29.0%.

Data reported through 1/11/2017


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