The 2012 2nd quarter market statistics for 20905 Silver Spring, MD paint a much different picture than the first quarter, and a much more positive one at that. Compared to the 1st quarter sales activity increased considerably, the number of sales doubled to 51. The average sold price for all homes increased to $422,969 and $443,017 for detached single-family homes only.
Properties were on the market for 77 days on average. 42 of all sales were fair-market sales, that is neither short sales or bank-owned properties.
It was my opinion that the average sales price during the 1st quarter was down because of the ratio of distressed sales to fair-market sales as well as the number of sales in the townhouse community of Oak Springs. During the 2nd quarter the number of distressed sales overall declined to 9, none of which was an Oak Springs townhouse.
The most active subdivisions were Good Hope Estates with 10 sold homes during the 2nd quarter and an average price of $360,380 and Colesville Outside with 7 sales and an average price of $419,571.
How does the sales activity in 20905 compare to Silver Spring in general?
The sales activity shows that 20905 is faring better than Silver Spring as a whole. 20905 is a wonderful area with more generously sized lots than other parts of Silver Spring and plenty of parkland. The low interest rates are certainly enticing home buyers to take advantage of the market in Silver Spring in general and 20905 in particular.
There were a total of 731 sales - 596 fair market - during the 2nd quarter in all of Silver Spring with an average sold price of $336,106. 499 were detached single-family homes which sold after an average of 69 days on the market and an average sold price of $396,072.
20905 Silver Spring, MD Homes For Sale:
Thompson Company Realtors is your 20905 neighborhood Real Estate office and one of the oldest family-owned companies in Silver Spring. There's never a fee to the buyer and we also don't believe in charging our sellers an extra "admin fee". If you are looking to buy or sell in the area, please give me a call @ (240) 593-2860!
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