In August 2018, there were 68 homes sold, with a median sale price of $525,000 - a 1.5% decrease over the $532,888 median sale price for the same period of the previous year. There were 42 homes sold in Silver Spring in August 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 August 2018.
The following table compares Silver Spring to other Montgomery County cities with similar median sales prices in August 2018:
| City | Aug. 2018 Home Sales | Aug. 2017 Home Sales | % change (Total Home Sales) | Aug. 2018 Median Sales Price | Aug. 2017 Median Sales Price | % change (Median Sales Price) |
|---|---|---|---|---|---|---|
| Laytonsville | 1 | 3 | -66.7% | $560,000 | $695,000 | -19.4% |
| Takoma Park | 14 | 11 | 27.3% | $547,500 | $560,000 | -2.2% |
| Rockville | 55 | 47 | 17% | $542,000 | $636,000 | -14.8% |
| Gaithersburg | 83 | 84 | -1.2% | $540,000 | $499,990 | 8% |
| Forest Glen | 6 | 7 | -14.3% | $535,000 | $504,000 | 6.2% |
| Silver Spring | 68 | 42 | 61.9% | $525,000 | $532,887.50 | -1.5% |
| Olney | 45 | 51 | -11.8% | $504,950 | $490,000 | 3.1% |
| Derwood | 22 | 15 | 46.7% | $502,250 | $475,000 | 5.7% |
| Hillandale | 3 | 0 | - | $500,000 | $0 | - |
| Colesville | 31 | 30 | 3.3% | $480,000 | $475,000 | 1.1% |
| Cloverly | 11 | 8 | 37.5% | $450,000 | $473,500 | -5% |
Alerts Sign-up