The prices in real estate in Silver Spring, in the Maryland region have had a minor rise in the last couple of months. The real estate prices for second hand homes have risen in this city.
The price per sq.feet in Silver Spring has increased during the last 6 months. In April, the average price per sq.feet was $225. In the following month the price per sq.feet increased to $251. In the following two months the price per sq.feet has increased 108 %, going from $238 to $258 per sq.feet. The price per sq.feet has decreased 92 % in the last two months compared to the average price for the previous four months. This was obtained by comparing the first four months of the period going from a price per sq.feet of $248 to $228.5 during August, and September.
Based upon to the price in Silver Spring (cities), this has gone up in the last 6 months. In our first sample month during April, the average price is $392,196. In May This price remains at $401,202. In the following two months the average price has remained the same with regard to the previous two months from $396,699 to $411,859.5. Based on an analysis of the first four prices and the last two months the average price has gone up 111 % during the last two months.
The graph displaying the average price for bedrooms illustrates that those properties with 1 bedroom are the cheapest ones. At a price of $458,267 they are 59 % more affordable than the average price for Silver Spring. The properties with the highest average price have 4 bedrooms, Their price is 13 % more costly than the average. After that we have properties with 3 bedrooms priced at $424,116.
With regard to the average price per sq.feet , those properties with 2 bedrooms are the cheapest ones at a cost of $225 / sq.feet, with an average $234 / sq.feet price in Silver Spring. The properties with the highest average prices have 3 bedrooms. They are 6 % more expensive than the average followed by properties with 1 bedroom with a price at $242 / sq.feet.
The graph displaying the average prices displays the property type "Condo" as the most affordable one. At an cost of $458,267 it is 47 % cheaper than the average price in Silver Spring. "Land" is seen as the second most affordable property type. The dearest property type is "Townhouse" followed by "House". At a price of $525,795 it is 16 % more expensive than the average price.
According to the average cost per sq.feet, the cheapest property type is "Condo" at an average cost of $192 / sq.feet followed by "Land" priced at $217 / sq.feet. "Townhouse" is the most costly type of property with a $9,835 / sq.feet cost followed by "House" with an average price of $771 / sq.feet.