DOWNTOWN SILVER SPRING AND TAKOMA PARK HOUSING MARKET DATA

There was a decrease in total units sold in January, with 29 sold this month in Downtown Silver Spring and Takoma Park Real Estate, a decrease of 19%. This month's total units sold is similar compared to a year ago.

Versus last year, the total number of homes available this month is higher by 6 units or 10%. The total number of active inventory this January was 64 compared to 58 in January 2024. This month's total of 64 is lower than the previous month's total supply of available inventory of 74, a decrease of 14%.

Last January, the median sale price for Downtown Silver Spring and Takoma Park Homes was $585,000. This January, the median sale price was $650,000, an increase of 11% or $65,000 compared to last year. The current median sold price is 3% lower than in December.

Median sale price is the middle sale price in a given month. The same number of properties are above & below the median.

In January, there was 2.2 months of supply available in Downtown Silver Spring and Takoma Park, compared to 2.0 in January 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 34 homes newly listed for sale in Downtown Silver Spring and Takoma Park compared to 31 in January 2024, an increase of 10%. There were 27 current contracts pending sale this January compared to 29 a year ago. The number of current contracts is 7% lower than last January.

In January, the average sale price in Downtown Silver Spring and Takoma Park was 98.7% of the average list price, which is 2.1% lower than at this time last year.

This month, the average number of days on market was 37, higher than the average last year, which was 33, an increase of 12%.





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

Zip Code(s): 20910, 20912 and 20907
Units Sold 29	Active Inventory 64	Median Sale Price $650,000	Days On Market 37

No Change Vs. Year Ago	Up 10% Vs. Year Ago	Up 11% Vs. Year Ago	Up 12% Vs. Year Ago


		Units Sold There was a decrease in total units sold in January, with 29 sold this month in Downtown Silver Spring and Takoma Park Real Estate, a decrease of 19%. This month's total units sold is similar compared to a year ago.
Active Inventory Versus last year, the total number of homes available this month is higher by 6 units or 10%. The total number of active inventory this January was 64 compared to 58 in January 2024. This month's total of 64 is lower than the previous month's total supply of available inventory of 74, a decrease of 14%.
		Median Sale Price Last January, the median sale price for Downtown Silver Spring and Takoma Park Homes was $585,000. This January, the median sale price was $650,000, an increase of 11% or $65,000 compared to last year. The current median sold price is 3% lower than in December. Median sale price is the middle sale price in a given month. The same number of properties are above & below the median.



New Listings 34	Current Contracts 27	Sold Vs. List Price 98.7%	Months of Supply 2.2

Up 10% Vs. Year Ago	Down -7% Vs. Year Ago	Down -2.1% Vs. Year Ago	Up 10% Vs. Year Ago


		Months of Supply In January, there was 2.2 months of supply available in Downtown Silver Spring and Takoma Park, compared to 2.0 in January 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 34 homes newly listed for sale in Downtown Silver Spring and Takoma Park compared to 31 in January 2024, an increase of 10%. There were 27 current contracts pending sale this January compared to 29 a year ago. The number of current contracts is 7% lower than last January.
		Sale Price to List Price Ratio In January, the average sale price in Downtown Silver Spring and Takoma Park was 98.7% of the average list price, which is 2.1% lower than at this time last year. Days on Market This month, the average number of days on market was 37, higher than the average last year, which was 33, an increase of 12%.


	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.