The unusually low inventory of homes for sale in Silver Spring, MD is causing the value of homes to improve.  Active inventory has decreased 47 percent since this time last year, and the median sales price has increased from $300,000 to $325,000 in the past 12 months. 

Homes are also selling faster than they were one year ago – 41 percent faster.  The number of units sold has remained stable, with 250 sold this month in Silver Spring, MD – an increase of 17 percent.

In July there was 2.3 months of supply available, compared to 5.1 months last July – a 55 percent decrease.  There was also 12 percent decrease in newly listed homes, and a 26 percent increase in pending contracts.

A great percentage of these homes continue to be short sales.  However, due to the recent improvement in values, homeowners are able to sell their underwater homes for more than they could one year ago, making their debt obligation to the lender less. 

If you are a distressed homeowner in Silver Spring, MD and would like to evaluate your alternatives to foreclosure, short selling may be your best option – especially in the current market.  It’s impossible to know how long this housing trend will continue, but based on all data, now is a great time to sell. 

To learn more about your options, such as a short sale, contact Emcee Arah and DeeCee Real Estate online or call 301.452.5252 and receive a free report:  Loan Modification Secrets. 

As a real estate professional who has earned the Certified Distressed Property Expert (CDPE) designation, Emcee and his team of professionals have made it their mission to know the best possible options available to distressed homeowners for both their present AND their future…and you can trust that your free consultation will be always be completely confidential. 

 
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Emcee M. Arah, CDPE, CIAS, REMAX ~Sil Spr, MD~ EMA Real Estate Group

Silver Spring, MD

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Remax Excellence Sil Spr, MD, VA & DC.

Address: 10230 New Hampshire Avenue, Suite 100, Silver Spring, MD, 20903

Office Phone: (800) 666-3705 x 208

Cell Phone: (301) 452-5252

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