$10,000 Closing Credit*
$850,000
2,384 SqFt
10 Beds
•5 Full Baths
Francisco F Chavez, Listing Office: Realty Advantage of Maryland LLC
Is Gaithersburg, MD a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 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
$539,050
$268/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$23,400(+4.5%)
Key Takeaway
Homes in Gaithersburg have sold for 4.5% more than they did a year ago.
Summary: The median home sold price in Gaithersburg was $539,050 in November 2024, up 4.5% from last year, and the median price per square foot was $268.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $185K | $201.5K | +8.9% |
| 2 Bedrooms | $288.7K | $316K | +9.4% |
| 3 Bedrooms | $470K | $486.2K | +3.5% |
| 4 Bedrooms | $667.5K | $700K | +4.9% |
| 5+ Bedrooms | $885K | $950K | +7.3% |
Summary: Gaithersburg housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 8.9%, 2 bedroom homes increased by 9.4%, 3 bedroom homes increased by 3.5%, 4 bedroom homes increased by 4.9%, and 5+ bedroom homes increased by 7.3%.
Median Sold Price Compared To Nearby Cities
| Gaithersburg | $515.6K | $539K | +4.5% |
| Rockville | $603.2K | $628.9K | +4.3% |
Housing Supply in Gaithersburg, MD
How many homes are available in Gaithersburg, MD?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 269 | 254 | -5.6% |
Summary: The Gaithersburg real estate market had 254 homes for sale in November 2024, a 5.6% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 16 | 14 | -12.5% |
| 2 Bedrooms | 42 | 51 | +21.4% |
| 3 Bedrooms | 84 | 79 | -6.0% |
| 4 Bedrooms | 76 | 65 | -14.5% |
| 5+ Bedrooms | 51 | 45 | -11.8% |
Summary: The Gaithersburg housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 12.5%, 2 bedroom homes increased by 21.4%, 3 bedroom homes decreased by 6%, 4 bedroom homes decreased by 14.5%, and 5+ bedroom homes decreased by 11.8%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 85 | 81 | -4.7% |
Asking Price vs. Sold Price
26 Homes Were Sold
Under Asking
20 Homes Were Sold
At Asking
35 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Gaithersburg, you could pay more than the asking price. 43.2% of homes here sold above asking price last month.
Summary: A total of 81 homes were sold or pending in Gaithersburg in November 2024, down by 4.7% month-over-month. Of the 81 sold homes, 32% were sold under asking, 25% 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
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 16 Days | 17 Days | +4.1% |
Summary: Homes in Gaithersburg had an average of 17 days on market in Nov 2024, up by 4.1% compared to last year.
Breakdown of Home Sale Times
66 Homes Were Sold
Under 30 Days
15 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Gaithersburg are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 81 homes were sold in Gaithersburg; 81% of homes were sold within 30 days, 19% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
