The Downtown Silver Spring housing market is somewhat competitive. The median sale price of a home in Downtown Silver Spring was $332K last month, down 20.5% since last year. The median sale price per square foot in Downtown Silver Spring is $411, up 5.8% since last year.
What is the housing market like in Downtown Silver Spring today?
In October 2024, Downtown Silver Spring home prices were down 20.5% compared to last year, selling for a median price of $332K. On average, homes in Downtown Silver Spring sell after 66 days on the market compared to 34 days last year. There were 14 homes sold in October this year, up from 12 last year.
All Home Types
Median Sale PriceAll Home Types
Median Sale Price
(All Home Types)
$332,000
-20.5% YoY | Oct 2024
Based on Redfin calculations of home data from MLS and/or public records.
Location
Data
Oct 2024
Growth
% YoY
Downtown Silver Spring, MD
$332,000
-20.5%
United States
To compare other locations to the Downtown 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.
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Work with the best agents in Downtown Silver Spring
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How hot is the Downtown Silver Spring housing market?
Downtown Silver Spring is somewhat competitive. Homes sell in 49 days.
0
100
65
Somewhat 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 6 months
Some homes get multiple offers.
The average homes sell for around list price and go pending in around 49 days.
Hot homes
can sell for about 2% above list price and go pending in around 14 days.
Learn about schools in the Downtown Silver Spring area
Elementary
Middle
High
GreatSchools Rating
9/10
Shepherd Elementary School
Public • PreK-5
372
Students
18 reviews
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 Downtown Silver Spring housing
Learn about natural hazards and environmental risks, such as floods, fires, wind, and heat that
could impact homes in Downtown Silver Spring.
Flood Factor - Minor
10% of properties are at risk of severe flooding over the next 30 years
Flood Factor
Downtown Silver Spring has a minor risk of flooding. 49 properties in Downtown Silver Spring are likely to be
severely affected
by flooding over the next 30 years. This represents 10% of all properties in Downtown Silver Spring. Flood risk is increasing slower than the national average.
100% of properties are at moderate
risk of a severe wind event over the next 30 years
Wind Factor
Downtown Silver Spring has a Moderate Wind Factor® risk based on the projected likelihood and speed of hurricane, tornado, or severe storm winds impacting it. Downtown Silver Spring is most at risk from hurricanes. 578 properties in Downtown 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 60 mph. In 30 years, an event of this same likelihood would show increased wind gusts of up to 76 mph.
94% of properties are at severe
risk of heat over the next 30 years
Heat Factor
Downtown Silver Spring has a severe risk from heat. This is due to
"feels like" temperatures
increasing, and because 94% of homes in Downtown Silver Spring have a Severe Heat Factor®.
Downtown Silver Spring is expected to see a 100% increase in the number of days over 104ºF over the next 30 years. Downtown Silver Spring is expected to experience 6