Silver Spring MD real estate update for May 2011

Today, I bring you a quick chart I put together showing the median asking prices of homes for sale in the Silver Spring MD real estate market over the past two years.  It has some good news, and some bad new, depending upon how you prefer to look at your news.

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