Is Gaithersburg, MD a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since February 2023
Since last year, Gaithersburg has remained a Seller's Market.
Housing Prices in Gaithersburg, MD
How much do homes in Gaithersburg, MD cost?
Median Sold Price
$519,355
$259/sqft
Based on all homes sold in the last 12 months.
Difference Since February 2023
Summary: The median home sold price in Gaithersburg was $519,355 in February 2024, up 12.4% from last year, and the median price per square foot was $259.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Feb 2023 | Feb 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $158.5K | $185K | +16.7% |
2 Bedrooms | $257.5K | $322.5K | +25.2% |
3 Bedrooms | $450K | $465K | +3.3% |
4 Bedrooms | $636.5K | $670K | +5.3% |
5+ Bedrooms | $860K | $875K | +1.7% |
Summary: Gaithersburg housing prices by bedroom type for February 2024 compared to the previous year: The home price of 1 bedroom homes increased by 16.7%, 2 bedroom homes increased by 25.2%, 3 bedroom homes increased by 3.3%, 4 bedroom homes increased by 5.3%, and 5+ bedroom homes increased by 1.7%.
Median Sold Price Compared To Nearby Cities
Gaithersburg | $461.9K | $519.3K | +12.4% |
Rockville | $619K | $588K | -5.0% |
Housing Supply in Gaithersburg, MD
How many homes are available in Gaithersburg, MD?
Number of Homes For Sale
Jan 2024 | Feb 2024 | CHANGE |
---|---|---|
272 | 298 | +9.6% |
Summary: The Gaithersburg real estate market had 298 homes for sale in February 2024, a 9.6% increase compared to January 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Jan 2024 | Feb 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 14 | 16 | +14.3% |
2 Bedrooms | 31 | 35 | +12.9% |
3 Bedrooms | 102 | 113 | +10.8% |
4 Bedrooms | 78 | 82 | +5.1% |
5+ Bedrooms | 47 | 52 | +10.6% |
Summary: The Gaithersburg housing inventory by bedroom type for February 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 14.3%, 2 bedroom homes increased by 12.9%, 3 bedroom homes increased by 10.8%, 4 bedroom homes increased by 5.1%, and 5+ bedroom homes increased by 10.6%.
Number of Homes Sold
Jan 2024 | Feb 2024 | CHANGE |
---|---|---|
50 | 58 | +16.0% |
Asking Price vs. Sold Price
17 Homes Were Sold
Under Asking
16 Homes Were Sold
At Asking
25 Homes Were Sold
Over Asking
Summary: A total of 58 homes were sold or pending in Gaithersburg in February 2024, up by 16.0% month-over-month. Of the 58 sold homes, 29% were sold under asking, 28% were sold at asking, and 43% were sold over asking.
Days on Market for Gaithersburg, MD
How long does it take to sell a home in Gaithersburg, MD?
Average Sale Time
Feb 2023 | Feb 2024 | CHANGE |
---|---|---|
30 Days | 25 Days | -15.9% |
Summary: Homes in Gaithersburg had an average of 25 days on market in Feb 2024, down by 15.9% compared to last year.
Breakdown of Home Sale Times
44 Homes Were Sold
Under 30 Days
10 Homes Were Sold
In 30 - 90 Days
4 Homes Were Sold
Over 90 Days
Summary: During February 2024, 58 homes were sold in Gaithersburg; 76% of homes were sold within 30 days, 17% of homes were sold within 30 to 90 days, and 7% of homes were sold over 90 days.