Is Gaithersburg, MD a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since June 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
$527,011
$264/sqft
Based on all homes sold in the last 12 months.
Difference Since June 2023
Key Takeaway
Homes in Gaithersburg have sold for 5.4% more than they did a year ago.
Summary: The median home sold price in Gaithersburg was $527,011 in June 2024, up 5.4% from last year, and the median price per square foot was $264.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Jun 2023 | Jun 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $185K | $185K | 0.0% |
| 2 Bedrooms | $250K | $325K | +30.0% |
| 3 Bedrooms | $460K | $479.3K | +4.2% |
| 4 Bedrooms | $644K | $685K | +6.4% |
| 5+ Bedrooms | $860K | $928.7K | +8.0% |
Summary: Gaithersburg housing prices by bedroom type for June 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 30%, 3 bedroom homes increased by 4.2%, 4 bedroom homes increased by 6.4%, and 5+ bedroom homes increased by 8%.
Median Sold Price Compared To Nearby Cities
| Gaithersburg | $500K | $527K | +5.4% |
| Rockville | $617.2K | $605.6K | -1.9% |
Housing Supply in Gaithersburg, MD
How many homes are available in Gaithersburg, MD?
Number of Homes For Sale
| May 2024 | Jun 2024 | CHANGE |
|---|---|---|
| 288 | 289 | 0.3% |
Summary: The Gaithersburg real estate market had 289 homes for sale in June 2024, a 0.3% increase compared to May 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | May 2024 | Jun 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 16 | 21 | +31.3% |
| 2 Bedrooms | 40 | 47 | +17.5% |
| 3 Bedrooms | 104 | 86 | -17.3% |
| 4 Bedrooms | 78 | 80 | +2.6% |
| 5+ Bedrooms | 50 | 55 | +10.0% |
Summary: The Gaithersburg housing inventory by bedroom type for June 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 31.3%, 2 bedroom homes increased by 17.5%, 3 bedroom homes decreased by 17.3%, 4 bedroom homes increased by 2.6%, and 5+ bedroom homes increased by 10%.
Number of Homes Sold
| May 2024 | Jun 2024 | CHANGE |
|---|---|---|
| 119 | 91 | -23.5% |
Asking Price vs. Sold Price
14 Homes Were Sold
Under Asking
20 Homes Were Sold
At Asking
57 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Gaithersburg, you could pay more than the asking price. 62.6% of homes here sold above asking price last month.
Summary: A total of 91 homes were sold or pending in Gaithersburg in June 2024, down by 23.5% month-over-month. Of the 91 sold homes, 15% were sold under asking, 22% were sold at asking, and 63% 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
| Jun 2023 | Jun 2024 | CHANGE |
|---|---|---|
| 11 Days | 22 Days | +96.6% |
Summary: Homes in Gaithersburg had an average of 22 days on market in Jun 2024, up by 96.6% compared to last year.
Breakdown of Home Sale Times
81 Homes Were Sold
Under 30 Days
9 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Gaithersburg are selling fast, if you're buying plan to act quickly.
Summary: During June 2024, 91 homes were sold in Gaithersburg; 89% of homes were sold within 30 days, 10% of homes were sold within 30 to 90 days, and 1% of homes were sold over 90 days.
