DOWNTOWN SILVER SPRING AND TAKOMA PARK HOUSING MARKET DATA

There was an increase in total units sold in March, with 33 sold this month in Downtown Silver Spring and Takoma Park Real Estate versus 28 last month, an increase of 18%. This month's total units sold was higher than at this time last year, an increase of 3% versus March 2024.

Versus last year, the total number of homes available this month is higher by 11 units or 13%. The total number of active inventory this March was 95 compared to 84 in March 2024. This month's total of 95 is higher than the previous month's total supply of available inventory of 92, an increase of 3%.

Last March, the median sale price for Downtown Silver Spring and Takoma Park Homes was $580,000. This March, the median sale price was $710,000, an increase of 22% or $130,000 compared to last year. The current median sold price is 5% 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.

In March, there was 2.9 months of supply available in Downtown Silver Spring and Takoma Park, compared to 2.6 in March 2024. That is an increase of 10% 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.

This month there were 64 homes newly listed for sale in Downtown Silver Spring and Takoma Park compared to 65 in March 2024, a decrease of 2%. There were 52 current contracts pending sale this March compared to 36 a year ago. The number of current contracts is 44% higher than last March.

In March, the average sale price in Downtown Silver Spring and Takoma Park was 100.8% of the average list price, which is 2.8% lower than at this time last year.

This month, the average number of days on market was 48, higher than the average last year, which was 41, an increase of 17%.





FOCUS ON: DOWNTOWN SILVER SPRING AND TAKOMA PARK HOUSING MARKET			MARCH 2025

Zip Code(s): 20910, 20912 and 20907
Units Sold 33	Active Inventory 95	Median Sale Price $710,000	Days On Market 48

Up 3% Vs. Year Ago	Up 13% Vs. Year Ago	Up 22% Vs. Year Ago	Up 17% Vs. Year Ago


		Units Sold There was an increase in total units sold in March, with 33 sold this month in Downtown Silver Spring and Takoma Park Real Estate versus 28 last month, an increase of 18%. This month's total units sold was higher than at this time last year, an increase of 3% versus March 2024.
Active Inventory Versus last year, the total number of homes available this month is higher by 11 units or 13%. The total number of active inventory this March was 95 compared to 84 in March 2024. This month's total of 95 is higher than the previous month's total supply of available inventory of 92, an increase of 3%.
		Median Sale Price Last March, the median sale price for Downtown Silver Spring and Takoma Park Homes was $580,000. This March, the median sale price was $710,000, an increase of 22% or $130,000 compared to last year. The current median sold price is 5% 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 64	Current Contracts 52	Sold Vs. List Price 100.8%	Months of Supply 2.9

Down -2% Vs. Year Ago	Up 44% Vs. Year Ago	Down -2.7% Vs. Year Ago	Up 10% Vs. Year Ago


		Months of Supply In March, there was 2.9 months of supply available in Downtown Silver Spring and Takoma Park, compared to 2.6 in March 2024. That is an increase of 10% 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 64 homes newly listed for sale in Downtown Silver Spring and Takoma Park compared to 65 in March 2024, a decrease of 2%. There were 52 current contracts pending sale this March compared to 36 a year ago. The number of current contracts is 44% higher than last March.
		Sale Price to List Price Ratio In March, the average sale price in Downtown Silver Spring and Takoma Park was 100.8% of the average list price, which is 2.8% lower than at this time last year. Days on Market This month, the average number of days on market was 48, higher than the average last year, which was 41, an increase of 17%.


	Downtown Silver Spring and Takoma Park are defined as properties listed in zip code/s 20910, 20912 and 20907.
	*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.