20905 zip-code of Silver Spring, MD ~ December 2012 Home Sales
Overall the 20905 zip-code of Silver Spring, MD did not finish the year as strong as it performed for most of the year. At first glance the market statistics for December 2012 do not look that great at all. However, digging a little deeper the picture becomes more positive ...
The average DOMP (days-on-market-property) for example was 187 during December 2012. But it included one property that took a whopping 1,154 days to sell. That is definitely out-of-the-ordinary and can be explained with its location. The 3 bedroom Cape Cod, built in 1903, is located in the subdivision of Colesville Outside but sits right at the corner of Rt. 198 and New Hampshire Ave. Although zoned residential it lends itself more to commercial use and through special exception was previously a day-care. When we leave this sale out of the equation the average DOMP was 99 days.
The average sold price for all properties was only $387,242 but was considerably higher for standard sales only: $423,444. Those numbers reflect a year-over-year decrease but they are still well above the low-point for the year which was less than 300K for the month of February.
Number of all properties sold
December 2012: 12 ... December 2011: 11
Average sold price all properties
December 2012: $387,242 ... December 2011: $420,909
Average sold price detached homes only
December 2012: $407,900 ... December 2011: $445,700
Average days-on-market:
December 2012: 99 (without above mentioned Cape Cod) ... December 2011: 101
Prices during December 2012 ranged between $160,000 for a townhouse in the Stonegate subdivision (foreclosure), $186,500 for a 3 bedroom/1 bath Cape Cod in need of TLC and $815,000 for a 5 bedroom, 4 1/2 baths Colonial with golf-course views in the subdivision of Hampshire Greens. That is quite the range but not unusual for 20905 Silver Spring, MD which offers a variety of home-styles and sizes on generally larger lots than you would find in close-in Silver Spring.
There are currently 31 homes listed For Sale in the 20905 zip-code of Silver Spring, MD with an average list price of $555,684.
Click here to view all homes currently For Sale in 20905 Silver Spring, MD
When you are considering buying in the 20905 area of Silver Spring, MD, please contact me and I will help you find your new home! Are you a Silver Spring, MD home seller? I can help you, too, and would love the opportunity to meet with you.
*All data derived from MRIS (Metropolitan Regional Information System)
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