Real Estate Market Update for 20905 (Silver Spring, MD)
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Welcome to August's Market Update,. Let’s take a look at residential real-estate activity in your area during the month of August. The number of active listings was up 5% from one year earlier, and did not change from the previous month. These latest figures mean that buyers had a greater selection of homes to choose from compared to the same month the previous year. As you can see, the median listing price for the month was just over 530-thousand dollars. Compared to last year, the average number of days units spent on the market before being sold was up 28%. This higher number of days may signal a slowdown in the local inventory-turnover rate. The median sale price was just over 440-thousand dollars. The number of units sold increased 60% year-over-year, and increased 50% month-over-month. These figures may indicate that buyers have been taking advantage of opportunities in this market. Thanks for watching. We hope you use this information to make smart, informed decisions in your upcoming real-estate transactions. Feel free to contact us for more information or further assistance.
Map Information for 20905 (Silver Spring, MD)
Area Information for 20905 (Silver Spring, MD)
  • Population: 18,389
  • Median Age: 43.08 yr
  • Median Commute Time: 32.95 mins
  • Educational Climate*: 5
  • Sales Tax: 6%
  • Population Density: 1,429/sq mi
  • Population Change Since 2000: 8.39%
  • Closest Airport: Baltimore/washington International Thurgood Marshall
  • Closest College: Griggs University
  • Closest Jr. College: Tesst College Technical-beltsville
  • Median Household Income: $124,362
  • Annual Residential Turnover: 10.7%
  • Median Years in Residence: 6.81 yr
  • Median Home Sales Price: $386,500
  • Closest Major Sports Team: Washington Capitals
  • Change Avg. Household Income Since 2000: 34%
* Scale from 1-5  ** Index where 100 is the national average
Demographic Data for 20905 (Silver Spring, MD)
Median Age: 43.08 Married: 43% Number of Households: 5,869 Households with Children: 2,240
Community:
    • Occupancy Types
      • 3599 Vacant
      • 8822 Owned
      • 12512 Rented
    • Transportation to Work
      • 43% Drive
      • 47% Public Transportation
      • 8% Walk / Bike / Other
      • 8% Work at Home
    National Index Comparisons:
    (100 National Average)
      • Population By Sex(%)
        • 50% Male
        • 50% Female
      • White/Blue Collar Jobs
        • 50% White Collar
        • 50% Blue Collar
      School Data for 20905 (Silver Spring, MD)

      School Name Distance Type Grades GreatSchools Rating Parent Rating
      Cloverly Elementary School 0.6 mi Public PRESCHOOL-5 4 5
      Briggs Chaney Middle School 1.0 mi Public 6-8 2-5 3
      James Hubert Blake High School 1.3 mi Public 9-12 3-5 4
      Hampshire View Christian School 1.5 mi Private K-12 0 4
      Dr. Charles R. Drew Elementary School 1.7 mi Public PRESCHOOL-5 2-5 4
      Stonegate Elementary School 1.8 mi Public K-5 4-5 5
      Fairland Elementary School 2.5 mi Public PRESCHOOL-5 2-5 4
      Proximity to listed schools and their school district(s) does not guarantee enrollment eligibility. Please contact a local real estate professional or the local school district(s) for the most current information relating to schools in the area. Sources: GreatSchools.org and Onboard Informatics © 2014
      Local Weather for 20905 (Silver Spring, MD)
        Community information and market data Powered by Onboard Informatics. Copyright ©2014 Onboard Informatics. Information is deemed reliable but not guaranteed. * Based on a 30-year fixed rate of 4.75% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Interest rates are also subject to credit and property approval based on secondary market guidelines. The rates shown are based on average rates for our best qualified customers. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.