Silver Spring MD Homes For Sale – A Look Back At May 2011

Usually when I write about a local community, I create a chart showing the median asking price of all of the homes for sale in that area.  But today, as I review Silver Spring MD homes for sale, I wanted to change it up a bit and see what kind of spread there was in the market between the lower priced tier of homes and the higher priced luxury homes, if you will.

Silver Spring MD Homes Asking Prices Comparison

The chart above tracks three groups of homes in Silver Springs, the entire market, the lowest priced quartile of homes, and then the most expensive 25% of homes currently for sale.  For all three groups, I have tracked two years worth of trend lines, and I am pretty impressed with how each group of homes has not risen, or fallen, too far in the past 24 months.

For instance, the least expensive Silver Springs homes for sale had a median asking price of about $235,000 or $240,000 in early June of 2009.  Today, that same measurement is right at $250,000, so a little bit of a rise, but nothing to write home about.  Looking at the entire group of homes, we saw a 2009 value at $375,000, and today, maybe $380,000?  Almost no difference at all.  And the same is true of the most expensive homes for sale in Silver Spring, with asking prices right around $575,000 for the bulk of the past two years.

How you view this data is totally up to you of course.  If you like bad news and like to belly ache, then you now have data in hand to show that your Silver Spring homes haven’t risen in value at all over two years, and that you should have seen an increase in equity simply by holding the property.  If, on the other hand, you prefer a sunny outlook, you will see all of the bad news that other markets are experiencing, and will be happy that home values haven’t bottomed out, and that while other areas are seeing losses between 20-50%, Silver Spring seems to be keeping steady.

I prefer the optimistic view, at least we don’t live in California!  But in either case, if you find that you need to buy or sell your Silver Spring MD home, please don’t hesitate to call, we will be glad to assist.

About Rich Jones