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| MAY 2025 | |||
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| Zip Code(s): 20866, 20868 and 20905 | |||
| Units Sold 17 |
Active Inventory 48 |
Median Sale Price $651,000 |
Days On Market 17 |
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| Down -23% Vs. Year Ago |
Up 109% Vs. Year Ago |
Up Vs. Year Ago |
Up 6% Vs. Year Ago |
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Units Sold
The number of units sold remained stable in May, with 17 sold this month in Burtonsville, Spencerville, and Northern Silver Spring Real Estate. This month's total units sold was lower than at this time last year, a decrease of 68% versus May 2024. |
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Active Inventory
Versus last year, the total number of homes available this month is higher by 25 units or 109%. The total number of active inventory this May was 48 compared to 23 in May 2024. This month's total of 48 is higher than the previous month's total supply of available inventory of 41, an increase of 17%. |
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Median Sale Price
Due to the relatively small number of units sold, the median sale price showed significant change this month. Last May, the median sale price for Burtonsville, Spencerville, and Northern Silver Spring Homes was $640,000. This May, the median sale price was $651,000, an increase of $11,000 compared to last year. The current median sold price is higher than in April. Median sale price is the middle sale price in a given month. The same number of properties are above & below the median. |
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| New Listings 42 |
Current Contracts 28 |
Sold Vs. List Price 102.2% |
Months of Supply 2.8 |
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| Up 68% Vs. Year Ago |
Up 17% Vs. Year Ago |
Up 0.6% Vs. Year Ago |
Up 169% Vs. Year Ago |
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Months of Supply
In May, there was 2.8 months of supply available in Burtonsville, Spencerville, and Northern Silver Spring, compared to 1.0 in May 2024. That is an increase of 170% versus a year ago. Months of supply is calculated by dividing current inventory by current sales. It indicates how many months would be needed to sell all of the inventory available at the current rate of demand. |
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New Listings & Current Contracts
This month there were 42 homes newly listed for sale in Burtonsville, Spencerville, and Northern Silver Spring compared to 25 in May 2024, an increase of 68%. There were 28 current contracts pending sale this May compared to 24 a year ago. The number of current contracts is 17% higher than last May. |
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Sale Price to List Price Ratio
In May, the average sale price in Burtonsville, Spencerville, and Northern Silver Spring was 102.2% of the average list price, which is 0.6% higher than at this time last year. Days on Market
This month, the average number of days on market was 17, higher than the average last year, which was 16, an increase of 6%. | |||
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Burtonsville, Spencerville, and Northern Silver Spring are defined as properties listed in zip code/s 20866, 20868 and 20905. | ||
| *Detached, Attached, and Condo varies by local area Multiple Listing Service (MLS) definition. For more information regarding your specific market, contact one of Long & Foster's knowledgeable and experienced sales associates. | |||
 Information included in this report is based on data supplied by BRIGHTMLS and its member Association(s) of REALTORS, who are not responsible for its accuracy. Does not reflect all activity in the marketplace. Information contained in this report is deemed reliable but not guaranteed, should be independently verified, and does not constitute an opinion of BRIGHTMLS or Long & Foster Real Estate, Inc. |
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