The Silver Spring housing market is very competitive. Homes in Silver Spring receive 7 offers on average and sell in around 15 days. The median sale price of a home in Silver Spring was $550K last month, up 5.3% since last year. The median sale price per square foot in Silver Spring is $330, up 13.4% since last year.
What is the housing market like in Silver Spring today?
In April 2024, Silver Spring home prices were up 5.3% compared to last year, selling for a median price of $550K. On average, homes in Silver Spring sell after 15 days on the market compared to 23 days last year. There were 70 homes sold in April this year, down from 84 last year.
All Home Types
Median Sale PriceAll Home Types
Median Sale Price
(All Home Types)
$550,000
+5.3% YoY | Apr 2024
Based on Redfin calculations of home data from MLS and/or public records.
Location
Data
Apr 2024
Growth
% YoY
Silver Spring, MD
$550,000
+5.3%
United States
To compare other locations to the Silver Spring and U.S. housing market, enter a city, neighborhood, state, or zip code into the search bar. Learn which home features in Silver Spring add value to a home.
How much is your home worth? Track your home’s value and compare it to nearby sales.
How hot is the Silver Spring housing market?
Silver Spring is very competitive. Homes sell in 17 days.
0
100
88
Very Competitive
Redfin Compete Score™
The Redfin Compete Score rates how competitive an area is on a scale of 0 to 100, where 100 is the most competitive.
Calculated over the last 3 months
Many homes get multiple offers, some with waived contingencies.
The average homes sell for about 3% above list price and go pending in around 17 days.
Hot homes
can sell for about 6% above list price and go pending in around 5 days.
This data does not reflect actual moves. The latest migration analysis is based on a sample of about two
million Redfin.com users who searched for homes across more than 100 metro areas. To be included in this dataset, a Redfin.com user
must have viewed at least 10 homes in a three month period. This dataset excludes all rentals data.
Home offer insights for Silver Spring
Explore recent offers and recently sold homes in Silver Spring
Recent offers
Offer Not Accepted|
6 Weeks Ago
~$1.25M Offer
Sold for $1.75M
4bd | 3.5ba | ~5,000sqft
Over List Price
0%
Days on Market
7
Competing Offers
8
Down Payment
~20%
Tiernan Dickens
Silver Spring Redfin Agent
We wrote a strong, non contingent offer way above list price, but were outgunned.
Offer Not Accepted|
6 Weeks Ago
~$650K Offer
Sold for $750K
4bd | 3ba | ~1,500sqft
Over List Price
6%
Days on Market
6
Competing Offers
13
Down Payment
~20%
Jamie Smart
Silver Spring Redfin Agent
Home received 13 offers and sold for $100,000 over the asking price. The winning offer waived all their contingencies. …
More
Offer Not Accepted|
9 Weeks Ago
~$750K Offer
Sold for $800K
3bd | 2ba | ~1,750sqft
Over List Price
2%
Days on Market
6
Competing Offers
4
Down Payment
~30%
Nadia Lynn Allen Bush
Silver Spring Redfin Agent
Escalation clauses and contingencies dont work in certain pockets of Silver Spring. These were very strong buyers but we lost after making the first two offers with no contingencies.The winning offer paid way over asking. …
School data provided by GreatSchools. School service boundaries are intended to be used as reference only. To verify enrollment eligibility for a property, contact the school directly.
Climate's impact on Silver Spring housing
Learn about natural hazards and environmental risks, such as floods, fires, wind, and heat that
could impact homes in Silver Spring.
Risk Factor
Flood Factor - Moderate
13% of properties are at risk of severe flooding over the next 30 years
Flood Factor
Silver Spring has a moderate risk of flooding. 1,301 properties in Silver Spring are likely to be
severely affected
by flooding over the next 30 years. This represents 13% of all properties in Silver Spring. Flood risk is increasing slower than the national average.
10% of properties are at risk of wildfire over the next 30 years
Fire Factor
Silver Spring has a moderate risk of wildfire. There are 1,342 properties in Silver Spring that have some risk of being affected by wildfire over the next 30 years. This represents 10% of all properties in Silver Spring.
100% of properties are at moderate
risk of a severe wind event over the next 30 years
Wind Factor
Silver Spring has a Moderate Wind Factor® risk based on the projected likelihood and speed of hurricane, tornado, or severe storm winds impacting it. Silver Spring is most at risk from hurricanes. 12,779 properties in Silver Spring have some risk of being in a severe wind event within the next 30 years.
Wind likelihood over time
If an exceedingly rare windstorm
(a 1-in-3,000 year storm event)
occurred today, it could cause wind gusts of up to 63 mph. In 30 years, an event of this same likelihood would show increased wind gusts of up to 78 mph.