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Monday, December 23, 2024

Silver Spring home prices rise in December 2018

Re 4

The median sale price of a home sold in December 2018 in Silver Spring rose by $52,000 while total sales increased by 56.8%, according to BlockShopper.com.

In December 2018, there were 58 homes sold, with a median sale price of $481,000 - a 12.1% increase over the $429,000 median sale price for the same period of the previous year. There were 37 homes sold in Silver Spring in December 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 December 2018.

The following table compares Silver Spring to other Montgomery County cities with similar median sales prices in December 2018:

CityDec. 2018 Home SalesDec. 2017 Home Sales% change (Total Home Sales)Dec. 2018 Median Sales PriceDec. 2017 Median Sales Price% change (Median Sales Price)
Hillandale220%$507,500$458,20010.8%
Rockville3839-2.6%$505,000$549,000-8%
Derwood716-56.3%$497,000$480,0003.5%
Olney322528%$492,500$465,0005.9%
North Kensington14875%$482,500$549,950-12.3%
Silver Spring583756.8%$481,000$429,00012.1%
Poolesville6450%$462,500$410,00012.8%
Aspen Hill4119115.8%$455,000$410,00011%
Gaithersburg574429.5%$449,900$449,950-0%
Colesville201353.8%$442,500$458,000-3.4%
White Oak618-66.7%$427,500$411,5003.9%

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