Our Silver Spring housing market is resilient, as the metropolitan area is driven by core industries of government, such as defense, federal contracting, professional services and engineering.
The federal government is a stabilizing presence within the region, which makes us more resistant to economic downturns than other regions. We also show higher incomes, education levels, population growth and share of millennials. In our area, walkability, community amenities and access to the Metro are sought after.
Fall housing is showing homes priced at $400,000 to the mid-500s continuing to come on the market in late October. In the last week, there were 43 detached home listings that came on for sale in Silver Spring. They are set in nice communities, where neighbors talk on the street and kids play. They are usually three-bedroom houses and great homes for singles, couples and couples starting a family.
This is a good time of year to buy a home. Interest rates are still good. And as the cold becomes more pronounced and the holidays just ahead with buyers and sellers making plans to celebrate, you may find a greater willingness to negotiate a deal.