Is Silver Springs, FL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Silver Springs has remained a Seller's Market.
Key Takeaway
Silver Springs is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Silver Springs, FL
How much do homes in Silver Springs, FL cost?
Median Sold Price
$169,000
$133/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Silver Springs have sold for 23.2% less than they did a year ago.
Summary: The median home sold price in Silver Springs was $169,000 in May 2024, down 23.2% from last year, and the median price per square foot was $133.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $84.9K | $130K | +52.9% |
| 2 Bedrooms | $121.4K | $115.5K | -4.9% |
| 3 Bedrooms | $223.9K | $179.7K | -19.7% |
| 4 Bedrooms | $340K | $333.4K | -1.9% |
| 5+ Bedrooms | $486.4K | $620K | +27.5% |
Summary: Silver Springs housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 52.9%, 2 bedroom homes decreased by 4.9%, 3 bedroom homes decreased by 19.7%, 4 bedroom homes decreased by 1.9%, and 5+ bedroom homes increased by 27.5%.
Median Sold Price Compared To Nearby Cities
| Anthony | $250K | $390K | +56.0% |
| Fort Mc Coy | $168K | $185K | +10.1% |
| Ocklawaha | $240K | $239.9K | 0% |
| East Marion | $175K | $165K | -5.7% |
| Silver Springs | $220K | $169K | -23.2% |
Housing Supply in Silver Springs, FL
How many homes are available in Silver Springs, FL?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 62 | 50 | -19.4% |
Summary: The Silver Springs real estate market had 50 homes for sale in May 2024, a 19.4% decrease compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 3 | 3 | 0.0% |
| 2 Bedrooms | 15 | 12 | -20.0% |
| 3 Bedrooms | 28 | 21 | -25.0% |
| 4 Bedrooms | 13 | 12 | -7.7% |
| 5+ Bedrooms | 3 | 2 | -33.3% |
Summary: The Silver Springs housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 20%, 3 bedroom homes decreased by 25%, 4 bedroom homes decreased by 7.7%, and 5+ bedroom homes decreased by 33.3%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 16 | 11 | -31.3% |
Asking Price vs. Sold Price
9 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Silver Springs, you may be able to get a good deal. 81.8% of homes here sold below asking price last month.
Summary: A total of 11 homes were sold or pending in Silver Springs in May 2024, down by 31.3% month-over-month. Of the 11 sold homes, 82% were sold under asking, 9% were sold at asking, and 9% were sold over asking.
Days on Market for Silver Springs, FL
How long does it take to sell a home in Silver Springs, FL?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 68 Days | 43 Days | -37.4% |
Summary: Homes in Silver Springs had an average of 43 days on market in May 2024, down by 37.4% compared to last year.
Breakdown of Home Sale Times
7 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Silver Springs are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 11 homes were sold in Silver Springs; 64% of homes were sold within 30 days, 18% of homes were sold within 30 to 90 days, and 18% of homes were sold over 90 days.
Listings courtesy of Stellar MLS as distributed by MLS GRID.
Copyright 2024 My Florida Regional Multiple Listing Service DBA Stellar MLS. The real estate listing data marked with this icon comes from the IDX program of the Stellar MLS system. All information provided is deemed reliable but is not guaranteed and should be independently verified. Listings displayed on this website may be subject to prior sale or removal from sale; availability of any listing should always be independently verified. Listing information is provided exclusively for consumers’ personal, non-commercial use, solely to identify potential properties for potential purchase; all other use is strictly prohibited and may violate relevant federal and state law. Properties displayed may be listed or sold by various participants in the MLS.