Local Real Estate Market

Silver Spring Real Estate Market – A Great Place to Live and Work 

The real estate market in Silver Spring is hot! CNN/Money Magazine recently reported that Silver Spring is among the top 10 real estate markets by largest median price increases over the last 5 years. As a seller or real estate investor, this is great news.  

According to a recent study by The Washington Post, home prices in Montgomery County (which includes Silver Spring and several other of the region's most expensive neighborhoods) kept rising last year. The median sales price for townhouses and single-family houses in the county increased 15.9 percent in 2003 to $307,240, from $265,000 in 2002.  

Even at these prices, demand for houses is high and competition to buy them is fierce. It is common for houses to sell in one day – with multiple offers to select from. Some buyers are forgoing home inspections and other evaluations in order to gain contract acceptance and speed up the sale. 

Why is the Montgomery County real estate market so hot? 

Two overall trends – low interest rates and a strong Washington economy. In Silver Spring, for example, 21% of residents work for the government and 51% work in managerial or professional jobs, according to Montgomery Works, a web-based information service for work-force development. 

And, from a buying perspective, Silver Spring is an attractive area to both live and work. The Greater Silver Spring Chamber of Commerce (GSSCC) boasts that downtown Silver Spring is the fastest growing urban center in the area. New retail, restaurants, entertainment, office and residential development are on every corner. Over $400 million in private, County and State funds are being invested in renovations and new construction.  

Silver Spring, just 7 minutes outside Washington, DC and with its own Metro station on the Red Line, has always had fantastic suburban areas and schools. Now, new to Silver Spring are: 

GSSCC also reports that expansions will be made to transportation systems (inclusion of MARC train and new bike trails) and the Takoma Park campus of Montgomery College. More Information 

Exciting things are happening in Silver Spring, Takoma Park and Bethesda! Call me now to help you determine if this area is right for you. I work all over the Washington Metro area but have insiders’ knowledge of Silver Spring, Takoma Park and Bethesda. 

Takoma Park – A Unique Community in Montgomery County 

What do Dominique Dawes (Olympic gymnast), John Fahey (blues guitarist), Steve Francis (pro basketball player) and Goldie Hawn (actress) have in common?  

They grew up in the Takoma Park community!
Takoma Park is a unique gem in the Washington Metro area. This small town of about 18,000 is actually shared by both Maryland and Washington DC. According to a Takoma historic group, this town began in the late 19th century as a railroad stop. 

Today, Takoma Park is known in the area for its small town atmosphere and picturesque old neighborhoods of Victorian mansions and 1920s bungalows. Takoma Park is also a strong, activist community. 

Like Silver Spring, Takoma Park is a growing suburb. Takoma Park has a Metro station on the Red Line and a quaint downtown shopping area. Homebuyers will find tremendous growth in incomes and property values occurring. According to Long & Foster, almost half of Takoma residents own their own home. And, the median home value is about $200,000. Takoma Park is also an ethnically diverse city. 

To learn more about the Takoma Park community, visit: 

Takoma Park City 

Historic Takoma 

Takoma Voice Community Journal 

Exciting things are happening in Silver Spring, Takoma Park and Bethesda! Call me now to help you determine if this area is right for you. I work all over the Washington Metro area but have insiders’ knowledge of Silver Spring, Takoma Park and Bethesda.
 

Request my Free Silver Spring, Takoma Park and Bethesda Relocation Package. It's packed full of useful and important information about the Silver Spring, Takoma Park and Bethesda, Maryland area. Don't move here without it! Remember: I'll send it to you for free and without obligation. 

Which neighborhoods offer the best values? It's my job to help! Ask me any question, or request my FREE relocation package of information on Silver Spring, Takoma Park and Bethesda. There's no obligation, and I promise to respond quickly...