Silver Spring Housing Market Data

There was an increase in total units sold in April, with 222 sold this month in Silver Spring Real Estate versus 185 last month, an increase of 20%. This month's total units sold was higher than at this time last year, an increase of 4% versus April 2011.

Versus last year, the total number of homes available this month is lower by 445 units or 39%. The total number of active inventory this April was 693 compared to 1,138 in April 2011. This month's total of 693 is higher than the previous month's total supply of available inventory of 685, an increase of 1%.

Last April, the median sale price for Silver Spring Homes was $270,000. This April, the median sale price was $313,500, an increase of 16% or $43,500 compared to last year. The current median sold price is 10% higher than in March.

In April, there was 3.1 months of supply available in Silver Spring, compared to 5.3 in April 2011. That is a decrease of 41% versus a year ago.

This month there were 349 homes newly listed for sale in Silver Spring compared to 436 in April 2011, a decrease of 20%. There were 291 current contracts pending sale this April compared to 241 a year ago. The number of current contracts remained stable as compared to last April.

In April, the average sale price in Silver Spring was 97.8% 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 63, lower than the average last year, which was 83, a decrease of 24%.




Focus On: Silver Spring Housing Market			April 2012
Zip Code(s): 20901, 20902, 20903, 20904, 20905, 20906 and 20910
Units Sold 222	Active Inventory 693	Median Sale Price $313,500	Days On Market 63

Up 4% Vs. Year Ago	Down -39% Vs. Year Ago	Up 16% Vs. Year Ago	Down -24% Vs. Year Ago

		Units Sold There was an increase in total units sold in April, with 222 sold this month in Silver Spring Real Estate versus 185 last month, an increase of 20%. This month's total units sold was higher than at this time last year, an increase of 4% versus April 2011.
Active Inventory Versus last year, the total number of homes available this month is lower by 445 units or 39%. The total number of active inventory this April was 693 compared to 1,138 in April 2011. This month's total of 693 is higher than the previous month's total supply of available inventory of 685, an increase of 1%.
		Median Sale Price Last April, the median sale price for Silver Spring Homes was $270,000. This April, the median sale price was $313,500, an increase of 16% or $43,500 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.



New Listings 349	Current Contracts 291	Sold Vs. List Price 97.8%	Months of Supply 3.1

Down -20% Vs. Year Ago	Up 21% Vs. Year Ago	Up 1% Vs. Year Ago	Down -41% Vs. Year Ago

		Months of Supply In April, there was 3.1 months of supply available in Silver Spring, compared to 5.3 in April 2011. That is a decrease of 41% 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 349 homes newly listed for sale in Silver Spring compared to 436 in April 2011, a decrease of 20%. There were 291 current contracts pending sale this April compared to 241 a year ago. The number of current contracts remained stable as compared to last April.
		Sale Price to List Price Ratio In April, the average sale price in Silver Spring was 97.8% 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 63, lower than the average last year, which was 83, a decrease of 24%.



Silver Spring are defined as properties listed in zip code/s 20901, 20902, 20903, 20904, 20905, 20906 and 20910.
*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.