Is Rockville, MD a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 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
$598,703
$325/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Rockville have sold for 4.1% less than they did a year ago.
Summary: The median home sold price in Rockville was $598,703 in March 2024, down 4.1% from last year, and the median price per square foot was $325.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $240K | $262.5K | +9.4% |
| 2 Bedrooms | $392.5K | $420K | +7.0% |
| 3 Bedrooms | $590K | $599.5K | +1.6% |
| 4 Bedrooms | $722.5K | $769K | +6.4% |
| 5+ Bedrooms | $892.5K | $850K | -4.8% |
Summary: Rockville housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 9.4%, 2 bedroom homes increased by 7%, 3 bedroom homes increased by 1.6%, 4 bedroom homes increased by 6.4%, and 5+ bedroom homes decreased by 4.8%.
Median Sold Price Compared To Nearby Cities
| Gaithersburg | $460K | $525K | +14.1% |
| Rockville | $624K | $598.7K | -4.1% |
Housing Supply in Rockville, MD
How many homes are available in Rockville, MD?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 446 | 483 | +8.3% |
Summary: The Rockville real estate market had 483 homes for sale in March 2024, a 8.3% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 39 | 42 | +7.7% |
| 2 Bedrooms | 94 | 95 | +1.1% |
| 3 Bedrooms | 109 | 116 | +6.4% |
| 4 Bedrooms | 124 | 141 | +13.7% |
| 5+ Bedrooms | 80 | 89 | +11.3% |
Summary: The Rockville housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 7.7%, 2 bedroom homes increased by 1.1%, 3 bedroom homes increased by 6.4%, 4 bedroom homes increased by 13.7%, and 5+ bedroom homes increased by 11.3%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 87 | 97 | +11.5% |
Asking Price vs. Sold Price
24 Homes Were Sold
Under Asking
20 Homes Were Sold
At Asking
53 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Rockville, you could pay more than the asking price. 54.6% of homes here sold above asking price last month.
Summary: A total of 97 homes were sold or pending in Rockville in March 2024, up by 11.5% month-over-month. Of the 97 sold homes, 25% were sold under asking, 21% were sold at asking, and 55% 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
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 18 Days | 19 Days | +5.3% |
Summary: Homes in Rockville had an average of 19 days on market in Mar 2024, up by 5.3% compared to last year.
Breakdown of Home Sale Times
82 Homes Were Sold
Under 30 Days
9 Homes Were Sold
In 30 - 90 Days
6 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Rockville are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 97 homes were sold in Rockville; 85% of homes were sold within 30 days, 9% of homes were sold within 30 to 90 days, and 6% of homes were sold over 90 days.
