Silver Spring Real Estate News & Market Updates for the week of 10/17/2012
There are currentl 498 Properties currently available in Silver Spring Maryland for Montgomery County in Maryland
Psst. . mortgages rates are at record lows
With mortgage rates at or near record lows and prices rolled back, we are puzzled finding buyers that are still waiting for the market to drop some more.. .well. you are in for a lonnnnng wait!
An inventory shortage has whipped up a feeding frenzy in our local market. .specially in the lower range properties. With bidding wars and price increases coming from apartment renters that are finding that mortgage payments are LOWER than their monthly rental bill. .is a no brainier!
As a broker, I ask myself if this pressure is justified?
Would most buyers be better served by waiting?
Absolutely not!
Check the chart below..
Year over Year (YoY) statistics are on the positive side in all aspects of the market today,
The only thing were there is a negative gain. . is the DAYS ON THE MARKET!
Things are selling quicker now. .I can assure you.
Everything points that the market is in the upswing!
The most dramatic data for September 2012 is the comparison of month to month from last year.
Look at the Sold Dollar Volume over 16% higher than last year.
Even the average Sold Price shows almost a 10% jump over last year. .That is good news if you are a seller. . .
The inventory declined to record lows in the last 12 months,if you are waiting to buy. . pay attention to this critical number
The number of LISTINGS!
The market in 2008 when everything started to unravel.. we had 12,908 ACTIVE LISTINGS THEN
Now?
From 2008 to 2012, we have only 4500 ACTIVE LISTINGS!
Homes are selling because ..the interest rates are low and inventory is at record lows!
The most expensive active home for sale in Silver Spring is:
$1,400,000
Stunning quality designer built home located in Good Hope Estates. This exclusive estate features the Main House and includes a 4 ...
The least expensive active home for sale in Silver Spring is:
$38,000
Great opportunity to buy one of the largest 1 BR CO-OP apartments in the active adult (55+) community of Leisure World in Silver S...
Foreclosure active homes for sale in Silver Spring:
$429,459
Spacious 5bed/2bath house in a great location! Property features: fresh paint, new carpet, 2 FP, separate dining room, fully finis...
$379,900
The Grantee(s) or purchaser(s) of the Property may not re-sell, record an additional conveyance document, or otherwise transfer ti...
$330,000?
Fully Renovated Homepath Property. Featuring granite countertops, upgraded cherry cabinets, brand new energy efficient HVAC syste...
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MLS MC7891601
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SqFt. 2,168
Latest Listings in Silver Spring Maryland as of 10/17/2012
$1,400,000
Stunning quality designer built home located in Good Hope Estates. This exclusive estate features the Main House and includes a 4 ...
$1,100,000
Flawless country estate-spectacular 7500 sq ft Col +2 out bldings on almost 2 breathtaking acres. Essence of luxury/ custom finish...
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MLS MC7930419
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SqFt. 7,500
The listing content relating to real estate for sale on this web site is courtesy of MRIS. Listing information comes from various brokers who participate in the MRIS IDX. Properties listed with brokerage firms other than Real Estate Company. are marked with the MRIS Logo and detailed information about them includes the name of the listing brokers. The properties displayed may not be all the properties available. All information provided is deemed reliable but is not guaranteed and should be independently verified. All listing information copyright MRIS 2012. Last updated: October 15, 2012
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