Silver Spring Real Estate News & Market Updates for the week of 11/15/2012

 

There are currentl 462 Properties currently available in Silver Spring Maryland for Montgomery County in Maryland

 

Other good news overall for the whole country is about foreclosures. .

Realty Trac has reported just recently that foreclosure filings felt to a 5 year low!

We are on our way to recovery

The caveat for homeowners in our area still remain a high probability that their homes are still underwater
Don't expect prices to shoot up to 2005 levels in the near future. .
There is a sense of more disciplined healthy market growth and slow in this case is good for the economy. Home values growth will be directly proportional  at the reluctance of appraisers to increase their opinions and keep them constricted no matter what the buyers want to pay.

I can tell you that we have experienced this first hand in the last 7 days. Two of our closings were halted because of the appraisals coming way too low.


Prices of homes are going up because of the low inventory. .but only for certain price ranges. The luxury real estate remains stable . . but there are fewer people buying homes above the $750,000 and up range.

Mortgage rates at still or near record lows. This is good indication that we are still going upwards and I caution not to expect this to remain as it is. .if you are near teh decision to buy a house, you shoudl do so now.

There is no bottom of the market anymore. . .you'll  have to wait for the next recession if you want to see it again. . .better luck next time!

The  inventory shortage has whipped up a buyer frenzy in our local market. .specially in the lower range properties.
Bidding wars and price increases are coming from all angles. .
From apartment renters that are finding mortgage payments to be LOWER than their monthly rentals
To the lucky ones in position to buy and upgrade their housing.

          

The average increase in home values remains  constant in the Washington Metropolitan Area

In average overall we should see around 7% to 10% total gains from 2011.


Affordability still is an issue in Montgomery County
The median Value of owner-occupied housing in Montgomery County is $482.900
yet
The median per capita  income money is $47,310
Direct data taken  from Census.Gov
That's TEN TIMES the average housing vs income per capita
In Florida the median per capita is around $25,000
Only 5 times that. . buys them a house OVER the median value in Florida (around $125,000)
try doing the same here in Montgomery County and you will be lucky to get a condo at that price.

Our market is dependent in the affordability range. .like it or not


Until we achieve a balanced real estate market in our area. .prices will continue to be stagnant in the high end.

The most dramatic data for October 2012 is the change of SOLD DOLLAR VOLUME
A change of 23.61 %
A great representation in the condition of our local market
As you can see below: 

Search All Silver Spring Homes For Sale here

The most expensive active home for sale in Silver Spring is:

 

1111 MCNEIL LANE, Silver Spring MD 20905

$1,298,000?

1111 MCNEIL LANE, Silver Spring

NEW PRICE! Stunning quality designer built home located in Good Hope Estates. This exclusive estate features the Main House and in...

  • Beds 4
  • Baths 4.0
  • MLS MC7810946

 

The least  expensive active home for sale in Silver Spring is:

 

3352 HEWITT AVENUE Unit #102, Silver Spring MD 20906

$58,900

3352 HEWITT AVENUE Unit #102, Silver Spring — Aspen Green

This is a Fannie Mae HomePath property. Don't miss this great opportunity to own in Aspen Green! Fenced patio unit with 600 squar...

  • Beds 2
  • Baths 1.0
  • MLS MC7962088
  • SqFt. 600

Foreclosure active homes for sale in Silver Spring:

3104 KING TREE STREET, Silver Spring MD 20902

$399,900

3104 KING TREE STREET, Silver Spring

Huge house!!! Updated, renovated and ready to move in!!! 4Bed/3.5baths above grade, finished basement with den, rec-room with fire...

  • Beds 4
  • Baths 5.0
  • MLS MC7956895

 

106 RITCHIE AVENUE, Silver Spring MD 20910

$389,000?

106 RITCHIE AVENUE, Silver Spring

Spacious 5bed/2bath house in a great location! Property features: fresh paint, new carpet, 2 FP, separate dining room, fully finis...

  • Beds 5
  • Baths 2.0
  • MLS MC7932302

 

1607 UPLAND DRIVE, Silver Spring MD 20905

$324,000

1607 UPLAND DRIVE, Silver Spring

Charming Rambler with fully finished basment! Property features 4bed/2beds, family room on the lower level and 2 fireplaces. Great...

  • Beds 4
  • Baths 4.0
  • MLS MC7954640

 

2109 ARCOLA AVENUE, Silver Spring MD 20902

$300,000

2109 ARCOLA AVENUE, Silver Spring

Spacious 3 BR, 2.5 BA rambler with 2 fireplaces! Wood floors through most of main level. Quick access to public transportation.

  • Beds 3
  • Baths 3.0
  • MLS MC7925294

 

17 CASINO COURT, Silver Spring MD 20906

$299,900?

17 CASINO COURT, Silver Spring

Subject to Freddie Macs First look initiative. Show and sell this home

  • Beds 3
  • Baths 4.0
  • MLS MC7891215

 

14344 ROSETREE COURT, Silver Spring MD 20906

$281,400

14344 ROSETREE COURT, Silver Spring

All contracts/offers are subject to OneWest senior management approval and any offers or counter offers by OneWest are not binding...

  • Beds 3
  • Baths 3.0
  • MLS MC7948943

 

713 SEEK LANE, Silver Spring MD 20912

$269,900

713 SEEK LANE, Silver Spring

Great detached home in the Silver Spring area.. This home has been updated and is move in ready. New carpet, paint, updated Kitche...

  • Beds 3
  • Baths 2.0
  • MLS MC7959742

 

12001 OLD COLUMBIA PIKE Unit #608, Silver Spring MD 20904

$199,900

12001 OLD COLUMBIA PIKE Unit #608, Silver Spring — Columbia Towers

Well maintained 1BR,1BA condo.Ceramic tiles in kit&bath. updated kit cabinets & table space.Washer&Dryer stacked in kit.W/W carpet...

  • Beds 1
  • Baths 1.0
  • MLS MC7963418
  • SqFt. 801

 

$194,900

13107 MUSICMASTER DRIVE Unit #86, Silver Spring — Stkbrdge/Tanglwd

Huge 3 Bedrooms in Tangle Wood Silver Spring Area. The master suite is entire 2nd Floor. Two more bedrooms on the 3rd floors with ...

  • Beds 3
  • Baths 3.0
  • MLS MC7964123
  • SqFt. 545

 

15107 INTERLACHEN DRIVE Unit #2-305, Silver Spring MD 20906

$84,000?

15107 INTERLACHEN DRIVE Unit #2-305, Silver Spring — Leisure World

This is a Fannie Mae HomePath property. Purchase for as little as 3% down. Property approved for Homepath Mortgage financing and...

  • Beds 2
  • Baths 2.0
  • MLS MC7924804
  • SqFt. 950

 

3352 HEWITT AVENUE Unit #102, Silver Spring MD 20906

$58,900

3352 HEWITT AVENUE Unit #102, Silver Spring — Aspen Green

This is a Fannie Mae HomePath property. Don't miss this great opportunity to own in Aspen Green! Fenced patio unit with 600 squar...

  • Beds 2
  • Baths 1.0
  • MLS MC7962088
  • SqFt. 600

 

 

Latest Listings in Silver Spring Maryland as of 11/15/2012

 

1111 MCNEIL LANE, Silver Spring MD 20905

$1,298,000?

1111 MCNEIL LANE, Silver Spring

NEW PRICE! Stunning quality designer built home located in Good Hope Estates. This exclusive estate features the Main House and in...

  • Beds 4
  • Baths 4.0
  • MLS MC7810946

 

1315 HIGHLAND DRIVE, Silver Spring MD 20910

$1,285,000?

1315 HIGHLAND DRIVE, Silver Spring

Exquisite Victorian completed in 2012! Enjoy the design, look & feel of this luxury custom home on 18K sq feet in historic Wood...

  • Beds 4
  • Baths 4.0
  • MLS MC7949711
  • SqFt. 3,380

 

2712 OLD BRIGGS CHANEY ROAD, Silver Spring MD 20905

$1,100,000

2712 OLD BRIGGS CHANEY ROAD, Silver Spring

Flawless country estate-spectacular 7500 sq ft Col +2 out bldings on almost 2 breathtaking acres. Essence of luxury/ custom finish...

  • Beds 8
  • Baths 7.0
  • MLS MC7930419
  • SqFt. 7,500

 

407 WINDSOR STREET, Silver Spring MD 20910

$989,000

407 WINDSOR STREET, Silver Spring

DO NOT MISS, SPECIAL PROPERTY! 4 finished levels! Backs to Sligo Creek Park! Grand,Elegant Center Hall Colonial. Park Room perched...

  • Beds 5
  • Baths 5.0
  • MLS MC7946232

 

1211 HIGHLAND DRIVE, Silver Spring MD 20910

$965,000

1211 HIGHLAND DRIVE, Silver Spring

Solid all BRICK home on gorgeous 0.4 acre lot! Beautiful close-in/quiet neighborhood. Gleaming refinished random width hardwood fl...

  • Beds 5
  • Baths 4.0
  • MLS MC7829779

 

16927 HARBOUR TOWN DRIVE, Silver Spring MD 20905

$949,900

16927 HARBOUR TOWN DRIVE, Silver Spring

Beautiful well-kept NV Home on the corner premium 3/4 acre lot backs to tranquil view of the golf course, 3 sided brick exteriors,...

  • Beds 6
  • Baths 5.0
  • MLS MC7904975

 

10106 DAY AVENUE, Silver Spring MD 20910

$949,000

10106 DAY AVENUE, Silver Spring

Step Back into another Time!! This is a one of a kind home situated on 2/3rds of an acre** absolutely stunning rooms - high ceilin...

  • Beds 4
  • Baths 4.0
  • MLS MC7949848

 

202 ROSALIE COVE COURT, Silver Spring MD 20905

$939,000

202 ROSALIE COVE COURT, Silver Spring

Stunning brick col w/all the bells & whistles! Grand 2-story foyer, hardwood floors, chefs kitchen w/ctr island cook top & cherry ...

  • Beds 5
  • Baths 6.0
  • MLS MC7928041
  • SqFt. 7,106

 

16604 CYPRESS BAY LANE, Silver Spring MD 20905

$929,900?

16604 CYPRESS BAY LANE, Silver Spring

Stunning colonial in a cul-de-sac with a beautiful roaming backyard. Three full baths on the top level with gorgeous master bedr...

  • Beds 6
  • Baths 5.0
  • MLS MC7933006

 

811 EDELBLUT DRIVE, Silver Spring MD 20901

$900,000

811 EDELBLUT DRIVE, Silver Spring

This home boast marble foyer, kitchen upgrades,jacuzzi, built in barbeque pit off patio, Separate family room and dining room,wet ...

  • Beds 5
  • Baths 4.0
  • MLS MC7900660

 

507 DENNIS AVENUE, Silver Spring MD 20901

$899,900

507 DENNIS AVENUE, Silver Spring

Amazing opportunity to own 1890 Colonial on lg 3/4 acre lot near 495/95. 2 additional adjoining lots convey with purchase. Propert...

  • Beds 6
  • Baths 4.0
  • MLS MC7897773

 

9011 ALTON PARKWAY, Silver Spring MD 20910

$899,900?

9011 ALTON PARKWAY, Silver Spring

Custom built home in the "Heart of Woodside Park" so quiet yet close to downtown SS/Metro & DC. Lrg dining rm open to great rm w/v...

  • Beds 6
  • Baths 4.0
  • MLS MC7898590

 

9128 GEORGIA AVENUE, Silver Spring MD 20910

$899,900

9128 GEORGIA AVENUE, Silver Spring

Stunning, nearly new contemporary Colonial, in a private 4-home enclave, just blocks from the vibrant center of downtown Silver Sp...

  • Beds 5
  • Baths 6.0
  • MLS MC7889855

 

205 WARRENTON DRIVE, Silver Spring MD 20904

$899,500

205 WARRENTON DRIVE, Silver Spring

Custom Springbrook Rancher on top of an unbelievable 5.68 acre country setting. RENOVATIONS & UPDATES include - kitchen, all new s...

  • Beds 4
  • Baths 4.0
  • MLS MC7868504

 

8009 PARK CREST DRIVE, Silver Spring MD 20910

$835,000

8009 PARK CREST DRIVE, Silver Spring

Step inside this amazing 4 BR 3.5 BA custom Contemporary home overlooking the luscious Sligo Creek Park. With jaw dropping views,...

  • Beds 4
  • Baths 4.0
  • MLS MC7921467

 

1100 SNIDER LANE, Silver Spring MD 20905

$825,000

1100 SNIDER LANE, Silver Spring

Custom built colonial w/ RARE 1 acre flat lot in Silver Spring. Tastefully adorned w/ crown molding, wainscotting, chair railing +...

  • Beds 6
  • Baths 6.0
  • MLS MC7942419

 

16529 HARBOUR TOWN DRIVE, Silver Spring MD 20905

$825,000

16529 HARBOUR TOWN DRIVE, Silver Spring

Large, elegant stone front home w/ beautiful views of golf course, luxurious home features expanded gourmet kitchen w/ center isla...

  • Beds 5
  • Baths 5.0
  • MLS MC7900708
  • SqFt. 6,906

 

2010 FLINT HILL ROAD, Silver Spring MD 20906

$824,900

2010 FLINT HILL ROAD, Silver Spring

Great Home. Great neighborhood.

  • Beds 6
  • Baths 5.0
  • MLS MC7890339
  • SqFt. 5,000

 

400 CALLOWAY COURT, Silver Spring MD 20905

$820,000?

400 CALLOWAY COURT, Silver Spring

NEW LOWER PRICE! Gorgeous Home in Hampshire Greens Community with Lots of Curb Appeal. Shows like Model Home! Designer Accents Thr...

  • Beds 5
  • Baths 4.0
  • MLS MC7839481

 

15800 LAUGHLIN LANE, Silver Spring MD 20906

$815,000

15800 LAUGHLIN LANE, Silver Spring

Home is nestled on 2 acres in sought after exclusive cluster of custom estates. Brick front colonial w/3 car side load garage enj...

  • Beds 5
  • Baths 4.0
  • MLS MC7934715
  • SqFt. 4,746

 

SADDLEROCK COURT, Silver Spring MD 20902

$799,990

SADDLEROCK COURT, Silver Spring

new sf home on one of two to-be subdivided lots located at 15 Saddlerock Ct. contact listing agent for plans and specs

  • Beds 4
  • Baths 3.0
  • MLS MC7818653
  • SqFt. 2,900

 

409 NORTHVIEW AVENUE E, Silver Spring MD 20905

$799,900

409 NORTHVIEW AVENUE E, Silver Spring

Welcome to the Dream house. It is one of a kind CUSTOM built-design Green House and sits on a tranquil private street. The house h...

  • Beds 5
  • Baths 6.0
  • MLS MC7961599

 

13513 MOONLIGHT TRAIL DRIVE, Silver Spring MD 20906

$799,900

13513 MOONLIGHT TRAIL DRIVE, Silver Spring

ATTENTION AGENTS, PLEASE CONTACT BUILDER REP DIRECTLY. Commission at 3% of base price. Beautiful new Winchester Homes, "Brandford"...

  • Beds 4
  • Baths 5.0
  • MLS MC7905478

 

14205 ALDERTON ROAD, Silver Spring MD 20906

$799,000

14205 ALDERTON ROAD, Silver Spring

Exquisite 5 BR 3.5 BA Colonial nestled in quiet subdivision in Silver Spring. Features Master suite & luxurious bath on main leve...

  • Beds 5
  • Baths 4.0
  • MLS MC7954109

 

12706 TWO FARM DRIVE, Silver Spring MD 20904

$799,000?

12706 TWO FARM DRIVE, Silver Spring

Priced to sell, available immediately. over 6000sq of finished space. 10ft tray ceilings Large Master with sitting room,2walk in ...

  • Beds 5
  • Baths 5.0
  • MLS MC7898756

 

1700 BRIGGS CHANEY ROAD, Silver Spring MD 20905

$764,900?

1700 BRIGGS CHANEY ROAD, Silver Spring

Bottom line Price!! Unbelievable price for this beautiful home on 2.55 Acres.Separate Carriage House 60'x24', Card Room with count...

  • Beds 5
  • Baths 6.0
  • MLS MC7730195
  • SqFt. 5,555

 

506 MIDLAND ROAD, Silver Spring MD 20904

$749,900

506 MIDLAND ROAD, Silver Spring

Spacious 6 bedroom 4 bath custom built colonial on a gorgeous full acre lot with professional landscaping. Everything is completel...

  • Beds 6
  • Baths 4.0
  • MLS MC7917847

 

37 BRYANTS NURSERY ROAD, Silver Spring MD 20905

$745,500

37 BRYANTS NURSERY ROAD, Silver Spring

Gorgeous 2-Acre wooded lot featuring a custom GEM w/ 22ft ceilings! Marble foyer, beautiful hard wood, 1st floor master suite wi...

  • Beds 5
  • Baths 4.0
  • MLS MC7942285

 

12120 NEW HAMPSHIRE AVENUE, Silver Spring MD 20904

$740,000

12120 NEW HAMPSHIRE AVENUE, Silver Spring

Gorgeous custom rancher on over 3 acres w/over 4,000 finished sqft! 5/6 BRs, private office w/custom built-ins. Spectacular update...

  • Beds 6
  • Baths 4.0
  • MLS MC7930134
  • SqFt. 4,530

 

1723 EDGEWATER PARKWAY, Silver Spring MD 20903

$725,000?

1723 EDGEWATER PARKWAY, Silver Spring

One of the lovliest homes in silver spring!custom brick rambler on spectacular lot-huge rooms-3 fp-large cnty kit opens to famil...

  • Beds 4
  • Baths 4.0
  • MLS MC7821588


The listing content relating to real estate for sale on this web site is courtesy of MRIS. Listing information comes from various brokers who participate in the MRIS IDX. Properties listed with brokerage firms other than Real Estate Company. are marked with the MRIS Logo and detailed information about them includes the name of the listing brokers. The properties displayed may not be all the properties available. All information provided is deemed reliable but is not guaranteed and should be independently verified. All listing information copyright MRIS 2012. Last updated: October 15, 2012

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Silver Spring Real Estate News & Market Updates for the week of 11/15/2012