$315,000
5.33 Acres
Land
Holly T Mueck, Listing Office: Humanity Realtors, Inc.
Is Gaithersburg, MD a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 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
$537,225
$265/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$24,517(+4.8%)
Key Takeaway
Homes in Gaithersburg have sold for 4.8% more than they did a year ago.
Summary: The median home sold price in Gaithersburg was $537,225 in October 2024, up 4.8% from last year, and the median price per square foot was $265.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $185K | $204K | +10.3% |
| 2 Bedrooms | $288.7K | $320K | +10.8% |
| 3 Bedrooms | $465K | $480K | +3.2% |
| 4 Bedrooms | $667.5K | $690K | +3.4% |
| 5+ Bedrooms | $890K | $876K | -1.6% |
Summary: Gaithersburg housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 10.3%, 2 bedroom homes increased by 10.8%, 3 bedroom homes increased by 3.2%, 4 bedroom homes increased by 3.4%, and 5+ bedroom homes decreased by 1.6%.
Median Sold Price Compared To Nearby Cities
| Gaithersburg | $512.7K | $537.2K | +4.8% |
| Rockville | $604.3K | $624.7K | +3.4% |
Housing Supply in Gaithersburg, MD
How many homes are available in Gaithersburg, MD?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 253 | 287 | +13.4% |
Summary: The Gaithersburg real estate market had 287 homes for sale in October 2024, a 13.4% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 14 | 18 | +28.6% |
| 2 Bedrooms | 49 | 45 | -8.2% |
| 3 Bedrooms | 73 | 89 | +21.9% |
| 4 Bedrooms | 75 | 80 | +6.7% |
| 5+ Bedrooms | 42 | 55 | +31.0% |
Summary: The Gaithersburg housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 28.6%, 2 bedroom homes decreased by 8.2%, 3 bedroom homes increased by 21.9%, 4 bedroom homes increased by 6.7%, and 5+ bedroom homes increased by 31%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 90 | 77 | -14.4% |
Asking Price vs. Sold Price
26 Homes Were Sold
Under Asking
16 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. 45.5% of homes here sold above asking price last month.
Summary: A total of 77 homes were sold or pending in Gaithersburg in October 2024, down by 14.4% month-over-month. Of the 77 sold homes, 34% were sold under asking, 21% were sold at asking, and 45% 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
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 16 Days | 17 Days | +7.6% |
Summary: Homes in Gaithersburg had an average of 17 days on market in Oct 2024, up by 7.6% compared to last year.
Breakdown of Home Sale Times
64 Homes Were Sold
Under 30 Days
12 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 October 2024, 77 homes were sold in Gaithersburg; 83% of homes were sold within 30 days, 16% of homes were sold within 30 to 90 days, and 1% of homes were sold over 90 days.
