From January through March of 2018, there were 131 homes sold, with a median sale price of $508,000 - a 8.2% increase over the $469,342 median sale price for the same period of the previous year. There were 155 homes sold in Silver Spring in the first quarter of 2017.
The median sales tax in Silver Spring for the most recent year with available data, 2016, was $5,050, approximately 1% of the median home sale price for the first quarter of 2018.
The following table compares Silver Spring to other Montgomery County cities with similar median sales prices in the first quarter of 2018:
| City | Jan. - Mar. 2018 Home Sales | Jan. - Mar. 2017 Home Sales | % change (Total Home Sales) | Jan. - Mar. 2018 Median Sales Price | Jan. - Mar. 2017 Median Sales Price | % change (Median Sales Price) |
|---|---|---|---|---|---|---|
| Garrett Park | 9 | 10 | -10% | $630,000 | $672,500 | -6.3% |
| Laytonsville | 12 | 6 | 100% | $555,000 | $712,500 | -22.1% |
| Takoma Park | 35 | 34 | 2.9% | $530,500 | $394,450 | 34.5% |
| Washington Grove | 2 | 0 | - | $518,000 | $0 | - |
| Rockville | 105 | 134 | -21.6% | $513,000 | $460,000 | 11.5% |
| Silver Spring | 131 | 155 | -15.5% | $508,000 | $469,342 | 8.2% |
| Forest Glen | 23 | 22 | 4.5% | $489,900 | $423,875 | 15.6% |
| Olney | 62 | 101 | -38.6% | $462,500 | $475,000 | -2.6% |
| Colesville | 44 | 57 | -22.8% | $445,000 | $433,500 | 2.7% |
| Cloverly | 21 | 15 | 40% | $438,000 | $465,000 | -5.8% |
| North Kensington | 36 | 55 | -34.5% | $427,000 | $399,999 | 6.8% |
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