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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Rockville is a seller's market

Buyer's
Market

Difference Since May 2023

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

Key Takeaway

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

Housing Prices in Rockville, MD

How much do homes in Rockville, MD cost?

Median Sold Price

$601,663

$329/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2023

-$18,004(-2.9%)

Key Takeaway

Homes in Rockville have sold for 2.9% less than they did a year ago.

Summary: The median home sold price in Rockville was $601,663 in May 2024, down 2.9% from last year, and the median price per square foot was $329.

Median Sold Price By Bedroom Count

# BEDSMay 2023May 2024CHANGE
1 $240K$272.5K
+13.5%
2 $410K$413.3K
+0.8%
3 $580K$603.1K
+4.0%
4 $725K$795K
+9.7%
5+ $900K$832K
-7.6%

Summary: Rockville housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 13.5%, 2 bedroom homes increased by 0.8%, 3 bedroom homes increased by 4%, 4 bedroom homes increased by 9.7%, and 5+ bedroom homes decreased by 7.6%.

Median Sold Price Compared To Nearby Cities

Gaithersburg
+8.4%
Rockville
-2.9%

Housing Supply in Rockville, MD

How many homes are available in Rockville, MD?

Number of Homes For Sale

Apr 2024May 2024CHANGE
342392+14.6%

Summary: The Rockville real estate market had 392 homes for sale in May 2024, a 14.6% increase compared to April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 3231
-3.1%
2 6486
+34.4%
3 9493
-1.1%
4 100109
+9.0%
5+ 5273
+40.4%

Summary: The Rockville housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 3.1%, 2 bedroom homes increased by 34.4%, 3 bedroom homes decreased by 1.1%, 4 bedroom homes increased by 9%, and 5+ bedroom homes increased by 40.4%.

Number of Homes Sold

Apr 2024May 2024CHANGE
12180-33.9%

Asking Price vs. Sold Price

12 Homes Were Sold
Under Asking

13 Homes Were Sold
At Asking

55 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Rockville, you could pay more than the asking price. 68.8% of homes here sold above asking price last month.

Summary: A total of 80 homes were sold or pending in Rockville in May 2024, down by 33.9% month-over-month. Of the 80 sold homes, 15% were sold under asking, 16% were sold at asking, and 69% were sold over asking.

Days on Market for Rockville, MD

How long does it take to sell a home in Rockville, MD?

Average Sale Time

May 2023May 2024CHANGE
11 Days9 Days-15.5%

Summary: Homes in Rockville had an average of 9 days on market in May 2024, down by 15.5% compared to last year.

Breakdown of Home Sale Times

75 Homes Were Sold
Under 30 Days

5 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During May 2024, 80 homes were sold in Rockville; 94% of homes were sold within 30 days, 6% of homes were sold within 30 to 90 days, and 0% 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 12 Days Ago

Newest Listings in Rockville, MD

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