Downtown Silver Spring and Takoma Park Housing Market Data

There was an increase in total units sold in April, with 52 sold this month in Downtown Silver Spring and Takoma Park Real Estate versus 40 last month, an increase of 30%. This month's total units sold was lower than at this time last year, a decrease of 5% versus April 2012.

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Versus last year, the total number of homes available this month is lower by 84 units or 51%. The total number of active inventory this April was 81 compared to 165 in April 2012. This month's total of 81 is higher than the previous month's total supply of available inventory of 72, an increase of 13%.

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Last April, the median sale price for Downtown Silver Spring and Takoma Park Homes was $425,000. This April, the median sale price was $419,000, a decrease of 1% or $6,000 compared to last year. The current median sold price is 10% higher than in March.

Median sale price is the middle sale price in a given month. The same number of properties are above & below the median.

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In April, there was 1.6 months of supply available in Downtown Silver Spring and Takoma Park, compared to 3.0 in April 2012. That is a decrease of 48% versus a year ago.

Months of supply is calculated by dividing current inventory by current sales. It indicates how many months would be needed to sell all of the inventory available at the current rate of demand.

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This month there were 91 homes newly listed for sale in Downtown Silver Spring and Takoma Park compared to 69 in April 2012, an increase of 32%. There were 71 current contracts pending sale this April compared to 50 a year ago. The number of current contracts is 42% higher than last April.

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Click here to compare the current contracts of this area against other locations.

In April, the average sale price in Downtown Silver Spring and Takoma Park was 99.9% of the average list price, which is 1.8% higher than at this time last year.

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This month, the average number of days on market was 47, lower than the average last year, which was 71, a decrease of 34%.

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Focus On: Downtown Silver Spring and Takoma Park Housing Market			April 2013
Zip Code(s): 20910, 20912 and 20907
Units Sold 52	Active Inventory 81	Median Sale Price $419,000	Days On Market 47

Down -5% Vs. Year Ago	Down -51% Vs. Year Ago	Down -1% Vs. Year Ago	Down -34% Vs. Year Ago

iCharts		Units Sold There was an increase in total units sold in April, with 52 sold this month in Downtown Silver Spring and Takoma Park Real Estate versus 40 last month, an increase of 30%. This month's total units sold was lower than at this time last year, a decrease of 5% versus April 2012. Click here to compare the units sold of this area against other locations.
Active Inventory Versus last year, the total number of homes available this month is lower by 84 units or 51%. The total number of active inventory this April was 81 compared to 165 in April 2012. This month's total of 81 is higher than the previous month's total supply of available inventory of 72, an increase of 13%. Click here to compare the active inventory of this area against other locations.		iCharts
iCharts		Median Sale Price Last April, the median sale price for Downtown Silver Spring and Takoma Park Homes was $425,000. This April, the median sale price was $419,000, a decrease of 1% or $6,000 compared to last year. The current median sold price is 10% higher than in March. Median sale price is the middle sale price in a given month. The same number of properties are above & below the median. Click here to compare the median sale price of this area against other locations.



New Listings 91	Current Contracts 71	Sold Vs. List Price 99.9%	Months of Supply 1.6

Up 32% Vs. Year Ago	Up 42% Vs. Year Ago	Up 1.8% Vs. Year Ago	Down -48% Vs. Year Ago

iCharts		Months of Supply In April, there was 1.6 months of supply available in Downtown Silver Spring and Takoma Park, compared to 3.0 in April 2012. That is a decrease of 48% versus a year ago. Months of supply is calculated by dividing current inventory by current sales. It indicates how many months would be needed to sell all of the inventory available at the current rate of demand. Click here to compare the months of supply of this area against other locations.
New Listings & Current Contracts This month there were 91 homes newly listed for sale in Downtown Silver Spring and Takoma Park compared to 69 in April 2012, an increase of 32%. There were 71 current contracts pending sale this April compared to 50 a year ago. The number of current contracts is 42% higher than last April. Click here to compare the new listings of this area against other locations. Click here to compare the current contracts of this area against other locations.		iCharts
iCharts		Sale Price to List Price Ratio In April, the average sale price in Downtown Silver Spring and Takoma Park was 99.9% of the average list price, which is 1.8% higher than at this time last year. Click here to compare the sale price to list price ratio of this area against other locations.
Days on Market This month, the average number of days on market was 47, lower than the average last year, which was 71, a decrease of 34%. Click here to compare the days on market of this area against other locations.		iCharts



Downtown Silver Spring and Takoma Park are defined as properties listed in zip code/s 20910, 20912 and 20907.
*Detached, Attached, and Condo varies by local area Multiple Listing Service (MLS) definition. For more information regarding your specific market, contact one of Long & Foster's knowledgeable and experienced sales associates.
Information included in this report is based on data supplied by MRIS and its member Association(s) of REALTORS, who are not responsible for its accuracy. Does not reflect all activity in the marketplace. Information contained in this report is deemed reliable but not guaranteed, should be independently verified, and does not constitute an opinion of MRIS or Long & Foster Real Estate, Inc.