 |
|||
 |
|||
| | |||
| MARCH 2025 | |||
| | |||
| Zip Code(s): 20866, 20868 and 20905 | |||
| Units Sold 15 |
Active Inventory 21 |
Median Sale Price $625,000 |
Days On Market 33 |
|
|
|
|
|
| Down -29% Vs. Year Ago |
Up 11% Vs. Year Ago |
Up Vs. Year Ago |
Up 10% Vs. Year Ago |
| | |||
Units Sold
There was a decrease in total units sold in March, with 15 sold this month in Burtonsville, Spencerville, and Northern Silver Spring Real Estate versus 16 last month, a decrease of 6%. This month's total units sold was lower than at this time last year, a decrease of 29% versus March 2024. |
|||
Active Inventory
Versus last year, the total number of homes available this month is higher by 2 units or 11%. The total number of active inventory this March was 21 compared to 19 in March 2024. This month's supply remained stable as compared to last month. |
|||
Median Sale Price
Due to the relatively small number of units sold, the median sale price showed significant change this month. Last March, the median sale price for Burtonsville, Spencerville, and Northern Silver Spring Homes was $539,000. This March, the median sale price was $625,000, an increase of $86,000 compared to last year. The current median sold price is higher than in February. Median sale price is the middle sale price in a given month. The same number of properties are above & below the median. |
|||
| | |||
| New Listings 17 |
Current Contracts 16 |
Sold Vs. List Price 100.3% |
Months of Supply 1.4 |
|
|
|
|
|
| Down -19% Vs. Year Ago |
Down -20% Vs. Year Ago |
Down -0.5% Vs. Year Ago |
Up 56% Vs. Year Ago |
| | |||
Months of Supply
In March, there was 1.4 months of supply available in Burtonsville, Spencerville, and Northern Silver Spring, compared to 0.9 in March 2024. That is an increase of 55% 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. |
|||
New Listings & Current Contracts
This month there were 17 homes newly listed for sale in Burtonsville, Spencerville, and Northern Silver Spring compared to 21 in March 2024, a decrease of 19%. There were 16 current contracts pending sale this March compared to 20 a year ago. The number of current contracts remained stable as compared to last March. |
|||
Sale Price to List Price Ratio
In March, the average sale price in Burtonsville, Spencerville, and Northern Silver Spring was 100.3% of the average list price, which is 0.5% lower than at this time last year. Days on Market
This month, the average number of days on market was 33, higher than the average last year, which was 30, an increase of 10%. | |||
 |
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. |
|||