Silver Spring MD Homes For Sale Monthly Update For April 2011

There are about 5 or 6 major areas that I cover in great detail on this blog site, and the Silver Spring MD real estate market happens to be one of those.  Every few weeks, or maybe once a month, I like to dig a little bit, and find some charts and graphs showing people exactly what is happening in their local markets, so that they can make better decisions, either as a buyer or seller.

Silver Spring MD homes for sale asking prices

This first graph that I included shows the median asking price for Silver Spring MD homes for sale and does not include condos or sold properties.  I apologize, but the source of this information seems to have only their trend line in place, shown in gold, but the weekly data points shown in black are only tracked since late last summer or early fall.

If we look at the available weekly data, starting around September, the median asking price was right at $400,000.  But since then, that value has dropped all the way to $350,000 before making a recent recovery to our most recent measurement of $380,000.  If, instead, we look at the trend line, we have a full year’s worth of data.  This time last year values were right around $350,000, rose to $400,000 before falling, but rebounding a bit to current levels of $365,000, which shows an increase when looking at year over year.

That graph above was for the entire group of homes in this market, without regard to the price range.  The graph below is for only the most expensive 25% of homes, or what I will call Silver Spring MD luxury homes for sale.  Sometimes, more expensive homes will exist in a market of their own, which may behave differently than the larger group of homes, and if someone is thinking of either buying or selling a high end home, it is important to know what to expect.

Silver Spring MD Luxury Homes Asking Prices

As it turns out, these homes are following the same basic pattern as the first graph we looked at.  Values start out at a certain point, $572,000 or so for this example, saw a rise in values, next saw a decline in prices before making a recovery of sorts in our most recent measurements.  In this graph, we saw high water marks of $600,000, lows of $550,000 with the most current measurement coming in at almost $580,000.

If you have any questions at all about  your Silver Spring home, or for any area in and around DC, please don’t hesitate to contact us and we will be happy to provide you with exactly this kind of information to ensure that you are kept up to date on the most recent happenings.

 

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