The Silver Spring, MD Real Estate Market is blooming!
Are you ready to spring into action?
February 2017 was another busy month in Silver Spring, MD - the busiest February since 2007! 180 transactions closed, 11 more than in February of 2016. The average sales price was a little over $351,000 which is up by about $5,500 over last year. The average time it took to sell decreased from 58 days to 40.
This is all great news for Silver Spring, MD home sellers! For buyers, however, not so much.
According to GCAAR (Greater Capital Area Association of REALTORS), the current inventory (homes on the market that is) in Montgomery County, MD is just 1.7 month. I can confirm that. I have buyers who are actively searching for their new home in the Silver Spring/Burtonsville area but there were only a few homes that I could show them! Inventory is most definitely tight for buyers - which means, little to no competition for sellers!
If you are thinking about selling your Silver Spring, MD home this year, spring into action!
The market is blooming!
Happy 1st Day of Spring!