SILVER SPRING HOUSING MARKET DATA

There was an increase in total units sold in April, with 183 sold this month in Silver Spring Real Estate versus 149 last month, an increase of 23%. This month's total units sold was lower than at this time last year, a decrease of 9% versus April 2024.

Versus last year, the total number of homes available this month is higher by 66 units or 22%. The total number of active inventory this April was 361 compared to 295 in April 2024. This month's total of 361 is lower than the previous month's total supply of available inventory of 374, a decrease of 3%.

Last April, the median sale price for Silver Spring Homes was $556,000. This April, the median sale price was $570,000, an increase of 3% or $14,000 compared to last year. The current median sold price is 9% higher than in March.

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

In April, there was 2.0 months of supply available in Silver Spring, compared to 1.5 in April 2024. That is an increase of 34% 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 239 homes newly listed for sale in Silver Spring compared to 273 in April 2024, a decrease of 12%. There were 210 current contracts pending sale this April compared to 235 a year ago. The number of current contracts is 11% lower than last April.

In April, the average sale price in Silver Spring was 101.1% of the average list price, which is 1.8% lower than at this time last year.

This month, the average number of days on market was 26, higher than the average last year, which was 17, an increase of 53%.





FOCUS ON: SILVER SPRING HOUSING MARKET			APRIL 2025

Zip Code(s): 20901, 20902, 20903, 20904, 20905, 20906 and 20910
Units Sold 183	Active Inventory 361	Median Sale Price $570,000	Days On Market 26

Down -9% Vs. Year Ago	Up 22% Vs. Year Ago	Up 3% Vs. Year Ago	Up 53% Vs. Year Ago


		Units Sold There was an increase in total units sold in April, with 183 sold this month in Silver Spring Real Estate versus 149 last month, an increase of 23%. This month's total units sold was lower than at this time last year, a decrease of 9% versus April 2024.
Active Inventory Versus last year, the total number of homes available this month is higher by 66 units or 22%. The total number of active inventory this April was 361 compared to 295 in April 2024. This month's total of 361 is lower than the previous month's total supply of available inventory of 374, a decrease of 3%.
		Median Sale Price Last April, the median sale price for Silver Spring Homes was $556,000. This April, the median sale price was $570,000, an increase of 3% or $14,000 compared to last year. The current median sold price is 9% higher than in March. Median sale price is the middle sale price in a given month. The same number of properties are above & below the median.



New Listings 239	Current Contracts 210	Sold Vs. List Price 101.1%	Months of Supply 2.0

Down -12% Vs. Year Ago	Down -11% Vs. Year Ago	Down -1.7% Vs. Year Ago	Up 34% Vs. Year Ago


		Months of Supply In April, there was 2.0 months of supply available in Silver Spring, compared to 1.5 in April 2024. That is an increase of 34% 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 239 homes newly listed for sale in Silver Spring compared to 273 in April 2024, a decrease of 12%. There were 210 current contracts pending sale this April compared to 235 a year ago. The number of current contracts is 11% lower than last April.
		Sale Price to List Price Ratio In April, the average sale price in Silver Spring was 101.1% of the average list price, which is 1.8% lower than at this time last year. Days on Market This month, the average number of days on market was 26, higher than the average last year, which was 17, an increase of 53%.


	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.