2017 Silver Spring Real Estate Market is buzzing with activity

By
Real Estate Agent with Thompson Company, REALTORS® MD594797
http://actvra.in/4ZKK
January 2017 has been the busiest January in Montgomery County, MD since 2007 with 704 homes sold. Just to put this into perspective, 411 transactions settled in January of 2009, 521 in 01/2013 and 646 in January of last year. But not only the number of closed sales is up, so are pending sales and new listing activity. 1,010 new homes came on the market in all of Montgomery County, MD in January and they are needed! Given the sales pace over the last year, the active inventory represents a supply of only 1.7 months.*

The numbers are looking just as good for Silver Spring, MD alone:

2017 Real Estate Statistics Silver Spring, MD

186 homes sold in January 2017 with an average sales price of $352,953 - an increase of 30K over last year. Homes also took less time to sell. The average days-on-market decreased by 10 to 50 days.

The Silver Spring, MD Real Estate market is buzzing with activity! Rising interest rates, consumer confidence, low unemployment rates all have something to do with it - and, I suspect, so does the weather. Sans a blizzard this Winter and warmer weather, the Spring Real Estate Market is well under way!

*Source: GCAAR January 2017 Montgomery County Market Trends Report

Posted by

ANDREA BEDARD, M.A. ~ THOMPSON COMPANY, REALTORS ~

 

 

   

                                                                                                              

 

Thompson Company, REALTORS
15711 New Hampshire Ave Silver Spring, MD 20905
o: (301) 384-9177 c: (240)593-2860

andreabedard.re@gmail.com

Andrea is a REALTOR® based in Silver Spring, MD. She has enjoyed assisting buyers and sellers since 2004 and focuses on residential Real Estate in  Montgomery and Howard County, MD. Andrea is a proud mom and hobby decorator with a vintage soul. She always answers the phone with a smile, enjoys running and treasure hunting and is addicted to coffee.

 

 All photographs are my own and I'd like to keep it that way. All information is deemed reliable but not guaranteed.

 

 

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Topic:
Real Estate Market Trends
Location:
Maryland Montgomery County Silver Spring
Tags:
silver spring home sales 2017
silver spring real estate market conditions
silver spring 2017 market report
is 2017 a good time to sell my silver spring home

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Rainmaker
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Elizabeth Weintraub Sacramento Real Estate Agent, Top 1% of Lyon Agents
Lyon Real Estate - Sacramento, CA
Put 40 years of experience to work for you

That's a weird little bump in 2010. What caused that, do you think? I was going to say your chart is very similar to my chart of prices in Sacramento except we had no bump in 2010. In fact, 2011 was the very bottom of our market, that summer, and then everything has continued to go up.

Feb 20, 2017 06:56 PM #1
Rainmaker
645,324
Andrea Bedard
Thompson Company, REALTORS® - Silver Spring, MD
M.A.; REALTOR® Silver Spring, MD and beyond

I'm assuming that the bump had to do with the Federal Tax Credit for 1st Time Home Buyers, Elizabeth Weintraub Sacramento Real Estate Agent, Top 1% of Lyon Agents. You may not have felt that impact (as much) in your area. I worked with a couple of buyers who hurried to close before April 30th, 2010 to take advantage of it. 

Feb 21, 2017 07:55 AM #2
Rainmaker
2,383,427
Laura Cerrano
Feng Shui Manhattan Long Island - Locust Valley, NY
Certified Feng Shui Expert, Speaker & Researcher

Buzzing with activity is never really a bad thing! Good luck with everything!

Mar 16, 2017 07:28 PM #3
Rainmaker
2,383,427
Laura Cerrano
Feng Shui Manhattan Long Island - Locust Valley, NY
Certified Feng Shui Expert, Speaker & Researcher

I assume that you're right about that tax credit maybe one of the positive things of the new era, I suppose. Andrea Bedard

Mar 16, 2017 07:33 PM #4
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Rainmaker
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Andrea Bedard

M.A.; REALTOR® Silver Spring, MD and beyond
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