August 2012 was another great good month for home sellers in the 20905 zip-code of Silver Spring, MD. It's not unusual for August sales to proceed at a somewhat slower sales pace compared to previous months (think vacation ... back-to-school frenzy ...) but that was just not the case this time around.
The number of SOLDs are UP! 22 homes sold in 20905 during August 2012 compared to 16 closed transactions during August 2011 and 18 during July 2012 ... it's not a huge jump as in other areas but it's up nonetheless.
The average SOLD price for all homes in 20905 was $425,281 for the month of August. This is less than the average sales price of July 2012 ($465,975) but considerably higher than August 2011 ($382,062).
*When comparing current sales statistics I like to compare the most recent ones with the prior month as well as the same time-frame a year ago. Even if there are seasonal fluctuations, also considering the statistics of the same month a year earlier will give us a better idea about the sales trend and whether or not the Silver Spring Real Estate Market has truly been improving (It has!).*
Comparing the average sales price of detached single-family homes only, August's number is WAY up from a year ago: $471,738 (18 sales) compared to $382,062 (16 sales).
The average days on market was 86 for all properties and 95 for detached homes only. Compared to July's statistics it took a bit longer to sell homes (again.. think vacation time and back-to-school) but that number could go down again as we (quickly) approach fall.
Clearly the overall market trend for 20905 Silver Spring, MD has been a very positive one thus far this year.
20905 Homes For Sale - inventory:
There are 56 homes currently active on the market - 18 of which were added in the month of August (please note: all are standard sales but for one short sale - another positive indicator)
Looking for your dream home in 20905 Silver Spring, MD? I can help you with that! Call, text (240) 593-2860 or email email@example.com to schedule your home buyer's consultation.