Top of the Park Condominiums in Silver Spring, MD is one of my favorite neighborhoods… and where I currently live. Here is a quick look at the TOP real estate market for 2017.

 

BUY/SELL

This year in TOP, there were/are seven transactions (not including those that were on the market and expired or were withdrawn). Six houses sold and one is actively on the market.

2-bedroom units: $277,500 Actively on the market and $275,000 and $277,000 Sold

3-bedroom units: $299,900 and $299,000 Sold

“Big units” 3/2.5: $315,000 and $280,000 Sold

**Note that these houses are not the same in terms of the renovation level and even layout (basement, no basement, etc). I separated them by general layout just to give you a sense of how the market is doing in TOP.

Most of the sales closed within one month, except one of the sales, which took 128 days.

RENT

Coincidentally, there were also seven rental transactions in TOP. Most of them were 2-bedroom units which rented for $1800, $1750 ($1800 year 2), $1675, $1995, and $1495 (application registered, rented price not known until rented). One three-bedroom unit rented for $1900. And one “big unit” rented for $2200.

**Again, note, these are not the same inside. This is intended to give you a sense of how the rental market is doing in TOP.

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