DOWNTOWN SILVER SPRING AND TAKOMA PARK HOUSING MARKET DATA

There was a decrease in total units sold in February, with 28 sold this month in Downtown Silver Spring and Takoma Park Real Estate versus 29 last month, a decrease of 3%. This month's total units sold was higher than at this time last year, an increase of 27% versus February 2024.

Versus last year, the total number of homes available this month is higher by 8 units or 13%. The total number of active inventory this February was 72 compared to 64 in February 2024. This month's total of 72 is higher than the previous month's total supply of available inventory of 70, an increase of 3%.

Last February, the median sale price for Downtown Silver Spring and Takoma Park Homes was $675,000. This February, the median sale price was $673,500, which is similar compared to a year ago. The current median sold price is 4% 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.

In February, there was 2.6 months of supply available in Downtown Silver Spring and Takoma Park, compared to 2.9 in February 2024. That is a decrease of 12% 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 46 homes newly listed for sale in Downtown Silver Spring and Takoma Park compared to 40 in February 2024, an increase of 15%. There were 33 current contracts pending sale this February compared to 28 a year ago. The number of current contracts is 18% higher than last February.

In February, the average sale price in Downtown Silver Spring and Takoma Park was 99.7% of the average list price, which is 2.2% lower than at this time last year.

This month, the average number of days on market was 41, higher than the average last year, which was 23. This increase was impacted by the limited number of sales.





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

Zip Code(s): 20910, 20912 and 20907
Units Sold 28	Active Inventory 72	Median Sale Price $673,500	Days On Market 41

Up 27% Vs. Year Ago	Up 13% Vs. Year Ago	No Change Vs. Year Ago	Up Vs. Year Ago


		Units Sold There was a decrease in total units sold in February, with 28 sold this month in Downtown Silver Spring and Takoma Park Real Estate versus 29 last month, a decrease of 3%. This month's total units sold was higher than at this time last year, an increase of 27% versus February 2024.
Active Inventory Versus last year, the total number of homes available this month is higher by 8 units or 13%. The total number of active inventory this February was 72 compared to 64 in February 2024. This month's total of 72 is higher than the previous month's total supply of available inventory of 70, an increase of 3%.
		Median Sale Price Last February, the median sale price for Downtown Silver Spring and Takoma Park Homes was $675,000. This February, the median sale price was $673,500, which is similar compared to a year ago. The current median sold price is 4% 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.



New Listings 46	Current Contracts 33	Sold Vs. List Price 99.7%	Months of Supply 2.6

Up 15% Vs. Year Ago	Up 18% Vs. Year Ago	Down -2.1% Vs. Year Ago	Down -12% Vs. Year Ago


		Months of Supply In February, there was 2.6 months of supply available in Downtown Silver Spring and Takoma Park, compared to 2.9 in February 2024. That is a decrease of 12% 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 46 homes newly listed for sale in Downtown Silver Spring and Takoma Park compared to 40 in February 2024, an increase of 15%. There were 33 current contracts pending sale this February compared to 28 a year ago. The number of current contracts is 18% higher than last February.
		Sale Price to List Price Ratio In February, the average sale price in Downtown Silver Spring and Takoma Park was 99.7% of the average list price, which is 2.2% lower than at this time last year. Days on Market This month, the average number of days on market was 41, higher than the average last year, which was 23. This increase was impacted by the limited number of sales.


	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.