Downtown Silver Spring and Takoma Park Housing Market Data

There was an increase in total units sold in April, with 54 sold this month in Downtown Silver Spring and Takoma Park Real Estate. This month's total units sold was higher than at this time last year.

Versus last year, the total number of homes available this month is lower by 58 units or 28%. The total number of active inventory this April was 148 compared to 206 in April 2011. This month's total of 148 is higher than the previous month's total supply of available inventory of 145, an increase of 2%.

Last April, the median sale price for Downtown Silver Spring and Takoma Park Homes was $363,000. This April, the median sale price was $425,000, an increase of $62,000 compared to last year. The current median sold price is higher than in March.

In April, there was 2.7 months of supply available in Downtown Silver Spring and Takoma Park, compared to 5.2 in April 2011. That is a decrease of 47% versus a year ago.

This month there were 68 homes newly listed for sale in Downtown Silver Spring and Takoma Park compared to 79 in April 2011, a decrease of 14%. There were 57 current contracts pending sale this April, consistent with the volume a year ago. The number of current contracts is 14% lower than last month.

In April, the average sale price in Downtown Silver Spring and Takoma Park was 98.2% of the average list price, which is 0.9% higher than at this time last year.

This month, the average number of days on market was 72, higher than the average last year, which was 54, an increase of 33%.




Focus On: Downtown Silver Spring and Takoma Park Housing Market			April 2012
Zip Code(s): 20910, 20912 and 20907
Units Sold 54	Active Inventory 148	Median Sale Price $425,000	Days On Market 72

Up Vs. Year Ago	Down -28% Vs. Year Ago	Up Vs. Year Ago	Up 33% Vs. Year Ago

		Units Sold There was an increase in total units sold in April, with 54 sold this month in Downtown Silver Spring and Takoma Park Real Estate. This month's total units sold was higher than at this time last year.
Active Inventory Versus last year, the total number of homes available this month is lower by 58 units or 28%. The total number of active inventory this April was 148 compared to 206 in April 2011. This month's total of 148 is higher than the previous month's total supply of available inventory of 145, an increase of 2%.
		Median Sale Price Last April, the median sale price for Downtown Silver Spring and Takoma Park Homes was $363,000. This April, the median sale price was $425,000, an increase of $62,000 compared to last year. The current median sold price is 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.



New Listings 68	Current Contracts 57	Sold Vs. List Price 98.2%	Months of Supply 2.7

Down -14% Vs. Year Ago	No Change Vs. Year Ago	Up 1% Vs. Year Ago	Down -47% Vs. Year Ago

		Months of Supply In April, there was 2.7 months of supply available in Downtown Silver Spring and Takoma Park, compared to 5.2 in April 2011. That is a decrease of 47% 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.
New Listings & Current Contracts This month there were 68 homes newly listed for sale in Downtown Silver Spring and Takoma Park compared to 79 in April 2011, a decrease of 14%. There were 57 current contracts pending sale this April, consistent with the volume a year ago. The number of current contracts is 14% lower than last month.
		Sale Price to List Price Ratio In April, the average sale price in Downtown Silver Spring and Takoma Park was 98.2% of the average list price, which is 0.9% higher than at this time last year. Days on Market This month, the average number of days on market was 72, higher than the average last year, which was 54, an increase of 33%.



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.