Silver Spring home prices rise in the third quarter of 2020

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The median sale price of a home sold in the third quarter of 2020 in Silver Spring rose by $14,000 while total sales decreased by 16.1%, according to

From July through September of 2020, there were 115 homes sold, with a median sale price of $579,000 - a 2.5% increase over the $565,000 median sale price for the same period of the previous year. There were 137 homes sold in Silver Spring in the third quarter of 2019.

The median sales tax in Silver Spring for the most recent year with available data, 2016, was $5,050, approximately 0.9% of the median home sale price for the third quarter of 2020.

The following table compares Silver Spring to other Montgomery County cities with similar median sales prices in the third quarter of 2020:

CityJuly - Sept. 2020 Home SalesJuly - Sept. 2019 Home Sales% change (Total Home Sales)July - Sept. 2020 Median Sales PriceJuly - Sept. 2019 Median Sales Price% change (Median Sales Price)
Ashton-Sandy Spring1417-17.6%$607,450$709,900-14.4%
Takoma Park3438-10.5%$599,413.50$570,5005.1%
Silver Spring115137-16.1%$579,000$565,0002.5%
Forest Glen2025-20%$545,000$481,50013.2%
North Kensington49474.3%$535,000$445,00020.2%

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