Is Gaithersburg, MD a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Gaithersburg is a seller's market

Buyer's
Market

Difference Since February 2023

Since last year, Gaithersburg has remained a Seller's Market.

Key Takeaway

Gaithersburg is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

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

+$57,421(+12.4%)

Key Takeaway

Homes in Gaithersburg have sold for 12.4% more than they did a year ago.

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

# BEDSFeb 2023Feb 2024CHANGE
1 $158.5K$185K
+16.7%
2 $257.5K$322.5K
+25.2%
3 $450K$465K
+3.3%
4 $636.5K$670K
+5.3%
5+ $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
+12.4%
Rockville
-5.0%

Housing Supply in Gaithersburg, MD

How many homes are available in Gaithersburg, MD?

Number of Homes For Sale

Jan 2024Feb 2024CHANGE
272298+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

# BEDSJan 2024Feb 2024CHANGE
1 1416
+14.3%
2 3135
+12.9%
3 102113
+10.8%
4 7882
+5.1%
5+ 4752
+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 2024Feb 2024CHANGE
5058+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

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Gaithersburg, you could pay more than the asking price. 43.1% of homes here sold above asking price last month.

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 2023Feb 2024CHANGE
30 Days25 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

Breakdown of Home Sale Times

Key Takeaway

Many homes in Gaithersburg are selling fast, if you're buying plan to act quickly.

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.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 18 Days Ago

Newest Listings in Gaithersburg, MD

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