Is Gaithersburg, MD a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 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
$525,280
$259/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Gaithersburg have sold for 11.2% more than they did a year ago.
Summary: The median home sold price in Gaithersburg was $525,280 in April 2024, up 11.2% from last year, and the median price per square foot was $259.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $165K | $185K | +12.1% |
| 2 Bedrooms | $250K | $320K | +28.0% |
| 3 Bedrooms | $450K | $466.2K | +3.6% |
| 4 Bedrooms | $628.5K | $674.1K | +7.3% |
| 5+ Bedrooms | $850K | $900K | +5.9% |
Summary: Gaithersburg housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 12.1%, 2 bedroom homes increased by 28%, 3 bedroom homes increased by 3.6%, 4 bedroom homes increased by 7.3%, and 5+ bedroom homes increased by 5.9%.
Median Sold Price Compared To Nearby Cities
| Gaithersburg | $472.5K | $525.2K | +11.2% |
| Rockville | $616.5K | $600.3K | -2.6% |
Housing Supply in Gaithersburg, MD
How many homes are available in Gaithersburg, MD?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 203 | 272 | +34.0% |
Summary: The Gaithersburg real estate market had 272 homes for sale in April 2024, a 34.0% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 13 | 15 | +15.4% |
| 2 Bedrooms | 27 | 38 | +40.7% |
| 3 Bedrooms | 71 | 88 | +23.9% |
| 4 Bedrooms | 56 | 78 | +39.3% |
| 5+ Bedrooms | 36 | 53 | +47.2% |
Summary: The Gaithersburg housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 15.4%, 2 bedroom homes increased by 40.7%, 3 bedroom homes increased by 23.9%, 4 bedroom homes increased by 39.3%, and 5+ bedroom homes increased by 47.2%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 62 | 83 | +33.9% |
Asking Price vs. Sold Price
15 Homes Were Sold
Under Asking
19 Homes Were Sold
At Asking
49 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Gaithersburg, you could pay more than the asking price. 59% of homes here sold above asking price last month.
Summary: A total of 83 homes were sold or pending in Gaithersburg in April 2024, up by 33.9% month-over-month. Of the 83 sold homes, 18% were sold under asking, 23% were sold at asking, and 59% 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
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 19 Days | 12 Days | -37.1% |
Summary: Homes in Gaithersburg had an average of 12 days on market in Apr 2024, down by 37.1% compared to last year.
Breakdown of Home Sale Times
76 Homes Were Sold
Under 30 Days
6 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 April 2024, 83 homes were sold in Gaithersburg; 92% of homes were sold within 30 days, 7% of homes were sold within 30 to 90 days, and 1% of homes were sold over 90 days.
