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| FEBRUARY 2025 | |||
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| Zip Code(s): 20866, 20868 and 20905 | |||
| Units Sold 16 |
Active Inventory 12 |
Median Sale Price $429,950 |
Days On Market 24 |
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| No Change Vs. Year Ago |
Down -50% Vs. Year Ago |
Down Vs. Year Ago |
Up Vs. Year Ago |
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Units Sold
There was an increase in total units sold in February, with 16 sold this month in Burtonsville, Spencerville, and Northern Silver Spring Real Estate, an increase of 60%. This month's total units sold is similar compared to a year ago. |
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Active Inventory
Versus last year, the total number of homes available this month is lower by 12 units or 50%. The total number of active inventory this February was 12 compared to 24 in February 2024. This month's total of 12 is lower than the previous month's total supply of available inventory of 23, a decrease of 48%. |
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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 February, the median sale price for Burtonsville, Spencerville, and Northern Silver Spring Homes was $635,000. This February, the median sale price was $429,950, a decrease of $205,050 compared to last year. The current median sold price is lower than in January. 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 7 |
Current Contracts 16 |
Sold Vs. List Price 101.2% |
Months of Supply 0.8 |
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| Down -72% Vs. Year Ago |
Down -20% Vs. Year Ago |
Down -2.4% Vs. Year Ago |
Down -50% Vs. Year Ago |
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Months of Supply
In February, there was 0.8 months of supply available in Burtonsville, Spencerville, and Northern Silver Spring, compared to 1.5 in February 2024. That is a decrease of 50% 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 7 homes newly listed for sale in Burtonsville, Spencerville, and Northern Silver Spring compared to 25 in February 2024, a decrease of 72%. There were 16 current contracts pending sale this February compared to 20 a year ago. The number of current contracts is 20% lower than last February. |
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Sale Price to List Price Ratio
In February, the average sale price in Burtonsville, Spencerville, and Northern Silver Spring was 101.2% of the average list price, which is 2.5% lower than at this time last year. Days on Market
This month, the average number of days on market was 24, higher than the average last year, which was 12. This increase was impacted by the limited number of sales. | |||
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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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