Wednesday, April 6, 2016

How is the Silver Spring, MD 20902 market? A look at the March 2016 market activity

Cell:  (301)943-4370

The housing market in Silver Spring, MD 20902 was very strong in March, 2016.  

Here is some data taken from MLS,  
looking at single family homes and townhouses (excluding condos).

During March 41 homes sold after being on the market an average of roughly 2 months...and that average accounts for 1 home that was on the market for nearly 8 months before selling.  Sellers are getting close to asking price with the average sold price being less than 3% below what the homes were listed for, and that factors in sellers giving buyers closing cost help/a seller credit.

34 homes went under contract during March and on average, they were on the market a little bit over a month, which factors in 1 home that was on the market a little over 6 months 
before going under contract.

56 homes were listed in March and as of the date of this posting, 28 went under contract after being on the market an average of less than 2 weeks! 3 homes already sold andne sold right away, 1 was under contract in 4 days and was under contract in 8 days!

The Silver Spring, MD 20902 market was very active in March.

If you or someone you know is thinking of making a move, has a real estate inquiry or wants to talk about the market, please call or email me.  I always have time for and appreciate your referrals.

Life is good!

Licensed in MD & DC
Cell:  (301)943-4370
Office:  (301)469-4700 - ask for Adam
Long & Foster Real Estate, Inc,.
Information deemed to be accurate but not guaranteed

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