SILVER SPRING HOUSING MARKET DATA

There was an increase in total units sold in February, with 135 sold this month in Silver Spring Real Estate versus 127 last month, an increase of 6%. This month's total units sold was higher than at this time last year, an increase of 2% versus February 2024.

Versus last year, the total number of homes available this month is higher by 17 units or 7%. The total number of active inventory this February was 249 compared to 232 in February 2024. This month's total of 249 is lower than the previous month's total supply of available inventory of 260, a decrease of 4%.

Last February, the median sale price for Silver Spring Homes was $513,250. This February, the median sale price was $552,000, an increase of 8% or $38,750 compared to last year. The current median sold price is 8% higher 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 1.8 months of supply available in Silver Spring. The amount of supply is similar compared to 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 155 homes newly listed for sale in Silver Spring compared to 215 in February 2024, a decrease of 28%. There were 136 current contracts pending sale this February compared to 160 a year ago. The number of current contracts is 15% lower than last February.

In February, the average sale price in Silver Spring was 100.4% of the average list price, which is 1.5% lower than at this time last year.

This month, the average number of days on market was 33, higher than the average last year, which was 31, an increase of 6%.





FOCUS ON: SILVER SPRING HOUSING MARKET			FEBRUARY 2025

Zip Code(s): 20901, 20902, 20903, 20904, 20905, 20906 and 20910
Units Sold 135	Active Inventory 249	Median Sale Price $552,000	Days On Market 33

Up 2% Vs. Year Ago	Up 7% Vs. Year Ago	Up 8% Vs. Year Ago	Up 6% Vs. Year Ago


		Units Sold There was an increase in total units sold in February, with 135 sold this month in Silver Spring Real Estate versus 127 last month, an increase of 6%. This month's total units sold was higher than at this time last year, an increase of 2% versus February 2024.
Active Inventory Versus last year, the total number of homes available this month is higher by 17 units or 7%. The total number of active inventory this February was 249 compared to 232 in February 2024. This month's total of 249 is lower than the previous month's total supply of available inventory of 260, a decrease of 4%.
		Median Sale Price Last February, the median sale price for Silver Spring Homes was $513,250. This February, the median sale price was $552,000, an increase of 8% or $38,750 compared to last year. The current median sold price is 8% higher 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 155	Current Contracts 136	Sold Vs. List Price 100.4%	Months of Supply 1.8

Down -28% Vs. Year Ago	Down -15% Vs. Year Ago	Down -1.4% Vs. Year Ago	No Change Vs. Year Ago


		Months of Supply In February, there was 1.8 months of supply available in Silver Spring. The amount of supply is similar compared to 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 155 homes newly listed for sale in Silver Spring compared to 215 in February 2024, a decrease of 28%. There were 136 current contracts pending sale this February compared to 160 a year ago. The number of current contracts is 15% lower than last February.
		Sale Price to List Price Ratio In February, the average sale price in Silver Spring was 100.4% of the average list price, which is 1.5% 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 31, an increase of 6%.


	Silver Spring are defined as properties listed in zip code/s 20901, 20902, 20903, 20904, 20905, 20906 and 20910.
	*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.