In January 2022, there were 53 homes sold, with a median sale price of $500,000 - a 11.1% increase over the $450,000 median sale price for the same period of the previous year. There were 51 homes sold in Silver Spring in January 2021.
The median sales tax in Silver Spring for the most recent year with available data, 2020, was $5,220, approximately 1% of the median home sale price for January 2022.
The following table compares Silver Spring to other Montgomery County cities with similar median sale prices in January 2022:
| City | Jan. 2022 Home Sales | Jan. 2021 Home Sales | % change (Total Home Sales) | Jan. 2022 Median Sales Price | Jan. 2021 Median Sales Price | % change (Median Sales Price) |
|---|---|---|---|---|---|---|
| Friendship Village | 7 | 4 | 75% | $565,000 | $282,500 | 100% |
| Takoma Park | 16 | 14 | 14.3% | $559,950 | $578,000 | -3.1% |
| Hillandale | 3 | 2 | 50% | $540,000 | $646,900 | -16.5% |
| Olney | 38 | 38 | 0% | $522,500 | $509,000 | 2.7% |
| Kemp Mill | 11 | 11 | 0% | $520,000 | $480,000 | 8.3% |
| Silver Spring | 53 | 51 | 3.9% | $500,000 | $450,000 | 11.1% |
| Boyds | 2 | 0 | - | $490,750 | $0 | - |
| White Oak | 13 | 23 | -43.5% | $485,000 | $491,000 | -1.2% |
| Aspen Hill | 67 | 46 | 45.7% | $485,000 | $432,500 | 12.1% |
| Forest Glen | 12 | 11 | 9.1% | $484,950 | $314,500 | 54.2% |
| Wheaton-Glenmont | 53 | 55 | -3.6% | $470,000 | $435,000 | 8% |
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