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Tuesday, December 24, 2024

Silver Spring home prices rise in the second half of 2018

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The median sale price of a home sold in the second half of 2018 in Silver Spring rose by $32,500 while total sales increased by 16.1%, according to BlockShopper.com.

From July through December of 2018, there were 324 homes sold, with a median sale price of $522,500 - a 6.6% increase over the $490,000 median sale price for the same period of the previous year. There were 279 homes sold in Silver Spring in the second half of 2017.

The median sales tax in Silver Spring for the most recent year with available data, 2016, was $5,050, approximately 1% of the median home sale price for the second half of 2018.

The following table compares Silver Spring to other Montgomery County cities with similar median sales prices in the second half of 2018:

CityJuly - Dec. 2018 Home SalesJuly - Dec. 2017 Home Sales% change (Total Home Sales)July - Dec. 2018 Median Sales PriceJuly - Dec. 2017 Median Sales Price% change (Median Sales Price)
Ashton-Sandy Spring492969%$600,000$527,50013.7%
Takoma Park77735.5%$589,000$540,0009.1%
Washington Grove3250%$560,000$515,6128.6%
Rossmoor20-$538,000$0-
Rockville284314-9.6%$537,250$548,500-2.1%
Silver Spring32427916.1%$522,500$490,0006.6%
Dickerson68-25%$520,000$456,75013.8%
Forest Glen37362.8%$505,000$476,0006.1%
Gaithersburg3853791.6%$495,000$450,00010%
Olney2222200.9%$494,750$490,0001%
Hillandale125140%$483,250$428,90012.7%

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