The Long & Foster Market Minute

Focus On: Silver Spring Housing Market September 2021

Zip Code(s): 20901, 20902, 20903, 20904, 20905, 20906 and 20910
Units Sold
328
Active Inventory
321
Median Sale Price
$465,000
Days On Market
19
Up 6%
Vs. Year Ago
Up 6%
Vs. Year Ago
Up 3%
Vs. Year Ago
Up 19%
Vs. Year Ago

Units Sold
There was a decrease in total units sold in September, with 328 sold this month in Silver Spring Real Estate versus 348 last month, a decrease of 6%. This month's total units sold was higher than at this time last year, an increase of 6% versus September 2020.

Active Inventory
Versus last year, the total number of homes available this month is higher by 17 units or 6%. The total number of active inventory this September was 321 compared to 304 in September 2020. This month's total of 321 is higher than the previous month's total supply of available inventory of 278, an increase of 15%.

Median Sale Price
Last September, the median sale price for Silver Spring Homes was $450,000. This September, the median sale price was $465,000, an increase of 3% or $15,000 compared to last year. The current median sold price is 10% lower than in August.

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


New Listings
376
Current Contracts
276
Sold Vs. List Price
101.2%
Months of Supply
1.0
Down -1%
Vs. Year Ago
Down -13%
Vs. Year Ago
Down -0.9%
Vs. Year Ago
No Change
Vs. Year Ago

Months of Supply
In September, there was 1.0 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 376 homes newly listed for sale in Silver Spring compared to 379 in September 2020, a decrease of 1%. There were 276 current contracts pending sale this September compared to 318 a year ago. The number of current contracts is 13% lower than last September.

Sale Price to List Price Ratio
In September, the average sale price in Silver Spring was 101.2% of the average list price, which is 0.9% lower than at this time last year.

Days on Market
This month, the average number of days on market was 19, higher than the average last year, which was 16, an increase of 19%.

The Long & Foster Market Minute 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.
REALTOR, Equal Opportunity HousingInformation 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.