SILVER SPRING HOUSING MARKET DATA

There was an increase in total units sold in March, with 145 sold this month in Silver Spring Real Estate versus 137 last month, an increase of 6%. This month's total units sold was lower than at this time last year, a decrease of 16% versus March 2024.

Versus last year, the total number of homes available this month is higher by 21 units or 7%. The total number of active inventory this March was 303 compared to 282 in March 2024. This month's total of 303 is lower than the previous month's total supply of available inventory of 316, a decrease of 4%.

Last March, the median sale price for Silver Spring Homes was $501,500. This March, the median sale price was $525,000, an increase of 5% or $23,500 compared to last year. The current median sold price is 5% lower 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 2.1 months of supply available in Silver Spring, compared to 1.6 in March 2024. That is an increase of 27% 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 231 homes newly listed for sale in Silver Spring compared to 277 in March 2024, a decrease of 17%. There were 204 current contracts pending sale this March, consistent with the volume a year ago. The number of current contracts is 56% higher than last month.

In March, the average sale price in Silver Spring was 100.4% of the average list price, which is 1.7% lower than at this time last year.

This month, the average number of days on market was 29, higher than the average last year, which was 20, an increase of 45%.





FOCUS ON: SILVER SPRING HOUSING MARKET			MARCH 2025

Zip Code(s): 20901, 20902, 20903, 20904, 20905, 20906 and 20910
Units Sold 145	Active Inventory 303	Median Sale Price $525,000	Days On Market 29

Down -16% Vs. Year Ago	Up 7% Vs. Year Ago	Up 5% Vs. Year Ago	Up 45% Vs. Year Ago


		Units Sold There was an increase in total units sold in March, with 145 sold this month in Silver Spring Real Estate versus 137 last month, an increase of 6%. This month's total units sold was lower than at this time last year, a decrease of 16% versus March 2024.
Active Inventory Versus last year, the total number of homes available this month is higher by 21 units or 7%. The total number of active inventory this March was 303 compared to 282 in March 2024. This month's total of 303 is lower than the previous month's total supply of available inventory of 316, a decrease of 4%.
		Median Sale Price Last March, the median sale price for Silver Spring Homes was $501,500. This March, the median sale price was $525,000, an increase of 5% or $23,500 compared to last year. The current median sold price is 5% lower 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 231	Current Contracts 204	Sold Vs. List Price 100.4%	Months of Supply 2.1

Down -17% Vs. Year Ago	No Change Vs. Year Ago	Down -1.7% Vs. Year Ago	Up 27% Vs. Year Ago


		Months of Supply In March, there was 2.1 months of supply available in Silver Spring, compared to 1.6 in March 2024. That is an increase of 27% 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 231 homes newly listed for sale in Silver Spring compared to 277 in March 2024, a decrease of 17%. There were 204 current contracts pending sale this March, consistent with the volume a year ago. The number of current contracts is 56% higher than last month.
		Sale Price to List Price Ratio In March, the average sale price in Silver Spring was 100.4% of the average list price, which is 1.7% lower than at this time last year. Days on Market This month, the average number of days on market was 29, higher than the average last year, which was 20, an increase of 45%.


	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.