According to the graph above, the least expensive quartile of homes for sale in the area are tracking at a median asking price of $750,000. In contract, the most expensive 25% of homes currently has a median asking price of $3,000,000, quite a difference, four times the price of the first group of homes!
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The two lines on the graph are of weekly data points as well as a rolling trend line, and they both track pretty much the same line. Two years ago, the median asking price of homes for sale in Silver Spring was right around $370,000. In the past two years, we have seen lows of $350,000 and highs of $400,000, but as of our latest measurement, we are pretty close to $380,000. Which is another way of saying that over 24 months, the median asking price for Silver Spring homes moved up only about 3%. Which isn't horrible. But it isn't great either.
If you would like more info on home values in and around the Greater DC Area, please visit http://dcrealestatemarketplace.com
