During July 2012 17 homes sold in 20905 Silver Spring, MD which reflects a steady sales pace compared to June (18 sales) and an increasing one compared to July 2011 (14 sales).
The average sold price was $465,975 - which is an increase of about 16% compared to June 2012 and about 9% compared to the 2nd quarter of 2012. The properties sold after an average of 67 days on the market - a number that has been going down steadily.
Of the 54 homes currently For Sale in 20905 Silver Spring, MD, 8 were newly listed in July. The number of active listings and July's sales activity give us an absorption rate of just a little over 3 months which means, it would take about 3 months to sell the current inventory without adding any new listings and maintaining a steady sales pace. An absorption rate of 0 - 3 months reflects a seller's market and an absorption rate of 3 - 6 months a balanced one.
If you have been considering selling your 20905 Silver Spring home, the steady sales pace, less time on the market and low absorption rate are all good news for you. Please give me a call to discuss your home selling plans and goals and how Thompson Company Realtors and I can help you accomplish those.
Thinking about buying your new home in 20905 Silver Spring, MD? I can help you, too!
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