Neighborhoods
Downtown Silver Spring:
A Remodeled DC Suburb
Borders: (Roughly) 16th Street, Dale Drive, Sligo Avenue
ZIP code(s): 20910
Pricing data: Downtown Silver Spring real estate (Redfin)
Sub-neighborhoods: Woodside Park, Woodside South
Map: Click here for interactive Google Map
Downtown Silver Spring by Kate Mereand
In the 1990s, downtown Silver Spring was considered more of an eyesore than a destination in the DC area. The neighborhood bisected by the northern section of Georgia Avenue was a desolate place with a few lonely pedestrians out at night and body shops outnumbering good restaurants about 2 to 1. However, a turnaround began in 2000 bolstered by large public and private investments and the arrival of two notably creative institutions. Now, the area has a new lease on life and is attracting young and old alike.
Demographics
Only 13 percent of the households in downtown Silver Spring have children, according to Redfin, and about thirty percent of the area’s residents are between the ages of 20 and 34. While these numbers point to an area dominated by a young demographic, the properties on the market are predominantly single-family homes (66%) rather than condos (33%).
Property Prices
The median list price for a single-family home in downtown Silver Spring is currently about $550,000, according to Redfin, while the median list price for a condo is much lower ($294,000). Below we look at two properties on the market, one condo and one single-family home, to see what you get in that price range.
There is a two-bedroom condo currently on the market at 9039 Sligo Creek Parkway for $280,000. The condo has been renovated and both the bathroom and master bedroom have been completely remodeled. There is a balcony in the unit as well as two walk-in closets. The listing price includes garage parking and the building has an outdoor pool, sauna, exercise room, 24-hour doorman and a free shuttle to the Metro station. At $619, the monthly condo fees are steep, but those include payment for all the aforementioned amenities and all utilities. For the full listing, click here.
There is a three-bedroom, arts-and-crafts cottage in downtown on the market for $590,000 at 8601 Mayfair Place. The 1920’s English cottage has a huge yard, front porch as well as hardwood floors and 9-foot ceilings throughout. The three-level home is a two-block walk from the Metro, Whole Foods Market and the AFI theater. For the full listing, click here.
Downtown by intangible arts
Market Fundamentals
Many people think of downtown Silver Spring as a small patch of land around Georgia Avenue and 16th Street, but in actuality, ritzier sub-neighborhoods like Woodside Park where the average price for a home is about $700,000 are also included as part of the conversation when people talk about downtown. As such, the area has a wide variety of property types from the new condo developments in the center of downtown to the Tudors, bungalows, Colonials and Cape Cod homes on the surrounding blocks.
Carole Levin, one of the leading realtors in Silver Spring as well as a native, told UrbanTurf that even though the market has been hurt by the housing crisis, it is fairing better than suburban neighborhoods to the north.
“The 20910 zip code is more insulated because it is inside the Beltway and close to the Metro,” Levin said. “I have found that our listing prices fall less and recover faster than areas farther out.”
Levin estimated that listings in downtown Silver Spring are on the market for an average of about six weeks while listings in neighborhoods five or ten miles farther out can stay put for an average of three months.
“I have realtor friends up in Germantown that haven’t opened up a key lockbox on a listing in two or three months,” she said.
Levin noted that while the market is tough, homes that are marketed well and are attractive in downtown Silver Spring garner a lot of attention. She said that 25 people came to an open house this past Sunday for one of her properties, and two offers were put in the following day.
Despite this upbeat perspective, Levin concedes that it is still going to be another two or three years until the home values in the area start climbing again.
Home in Woodside Park
Insider Tips
Over $1 billion has been invested by public and private entities in downtown Silver Spring over the last seven years. In 2003, the American Film Institute moved one of its two theaters in the U.S. from the Kennedy Center to a renovated movie theater on Colesville Road. Right around the same time, The Discovery Channel moved its headquarters from Bethesda to a building just above Silver Spring’s Metro station. Moves like these combined with the arrival of a slew of new restaurants and upscale grocery stores like Whole Foods are transforming the area and increasing property values.
That said, an area broker told UrbanTurf that when Mica Condos and other luxury condos were going up a few years ago, you could not touch anything for $250,000, but now the prices are coming down making that price point more realistic. There are also a number of older condo developments in downtown where the prices have dropped under $300,000.
Carol Levin noted that if you go east and north of the business district you enter the neighborhood of Woodside South where there are smaller, but more reasonably priced homes than in most other sections of downtown.
“I have found a number of people that have moved up from DC to Silver Spring because home prices are cheaper and the schools are better,” Levin said. “When they start thinking about bringing up kids, they don’t want to be in DC.”
AFI Silver Theater by Kate Mereand
Parking & Transportation
Parking in downtown Silver Spring is relatively easy regardless of whether you live in the neighborhood center or in Woodside Park. That said, many new condo developments have parking garages and usually offer a reserved space with listings on the market.
The Silver Spring Metro stop is on the red line, and the trip to Metro Center takes just 18 minutes.
Bottom Line
Silver Spring still caters to thirty-somethings that are on their first or second child. However, it is a laid back, affordable alternative to many of the more expensive neighborhoods in DC that cannot offer half of the attractions and amenities.
Quick Answers
Noise Level
Low
Good Buildings to Live In
Mica Condos, National Park Seminary
Closest (Decent) Grocery Store
Whole Foods Market, 833 Wayne Avenue
Neighborhood Picks
Best Place to Catch a One-Night Showing of Vertigo — AFI Silver Theater, 8633 Colesville Road
Best Place for a Discounted NY Strip — Ray’s the Classics, 8606 Colesville Road
Best Place for a Coffee Fix — Mayorga Coffee Roasters, 8040 Georgia Avenue
Best Greasy Spoon that Serves Seafood — Crisfield Seafood Restaurant, 8012 Georgia Avenue
Photos & Resources
- The Silver Spring Penguin — A great blog that showcases a lot of events going on in Silver Spring.
- Silver Spring Downtown — Restaurants, shopping and entertainment in the downtown area.
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