Video - Quick review of data on Silver Spring MD homes for sale - June 2011

Silver Spring MD homes for sale

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

Chevy Chase MD Luxury Homes See Median Asking Price Fall Almost $600,000 In 2 Years

I recently wrote an article on http://dcrealestatemarketplace.com about two years worth of data for Chevy Chase MD homes and their median asking price.  But the graph above is a bit different, this graph looks only at the most expensive 25% of homes currently for sale at any given time.

Looking at this group of homes, we can see that Chevy Chase MD luxury homes for sale have seen quite a large drop in value.  Two years ago, in May of 2009, the median asking price of the most expensive quartile of homes for sale was right around 2.9 million dollars.

Over the next 24 months, that asking price fell, and fell, all the way to $1,900,000 before recovering a bit to get to our most current measurement of $2,300,000.  While that is a small increase from earlier this year, our latest asking price value is still about $600,000 lower than it was just two years ago.

Potomac MD Homes For Sale - Video Update For May 2011

Potomac MD Homes For Sale

Potomac MD Homes See Dropping Days On Market Measurements

I wrote a recent blog post about Potomac MD homes, to show how the asking prices and inventory levels were trending over the past two years.  However, I failed to discuss how long homes were staying on the market.  So I have dropped in a graph here to take a look at just that statistic.

And as you can see, this graph from Altos Research shows that the DOM was pretty steady from May 2009 through August of 2010, staying between 140 and 160 days, on average.  However, something seems to have happened last fall, and the data really seems to be bouncing around like crazy.  The data points even spiked as high at 210 days at the turn of the year, but since then, it has been nothing but downhill for this particular statistic, all the way to our most recent measurement of 120 days!

If you would like to see this kind of statistical analysis for your particular neighborhood, or have any questions at all about your home, please don't hesitate to let us know.  If you prefer to read a few more articles about communities in and around the D.C. area, please make sure to visit http://dcrealestatemarketplace.com

Silver Spring MD Homes For Sale Market Update - Video

Silver Spring MD Homes For Sale

Silver Spring MD Homes For Sale Seeing Dropping Days On Market Measurements

First, let me apologize if you find the title of this short post confusing.  Yes, DOM is dropping if you look at it from the high measurements taken in January, but they are rising overall if you looked only at last year's level at this point.  What I am trying to do is see where we are trending when we look at Silver Spring MD homes for sale, and whether or not we can expect lower Days On Market measurements, or higher, as we progress through the spring selling season.

The graph above shows a value of about 114 days on average, one year ago, for a home for sale to leave the market.  That number rose all the way up above 150 in January before falling to our most current level of 120, which is reduction of one full month, which is somewhat noteworthy, I would think.

If you would like more data on Silver Spring homes, or any other area in and around DC, such as Bethesda, Potomac or Chevy Chase, please visit www.DCRrealEstateMarketplace.com.