Gaithersburg, MD Market Report – 9/18/09

18 Sep
September 18, 2009

The following statistics represent Gaithersburg, Maryland (ZIP-20882):

  • New Listings: 88
  • Closed Sales: 11
  • Median Sale Price: $650,000
  • Average DOM: 72

There were 88 homes listed for sale at the end of August, which is not far off from the 90 for sale at the end of July. The number of homes sold in August, a total of 11, matched the sales for July. Meanwhile, median home price in August was down to $650,000, a 9.8% drop from the same period in 2008. However average days on the market (DOM) was only 72, as opposed to the staggering 309 days on the market in August 2008.

Gaithersburg is one of the largest cities in the State of Maryland. I’ve chosen to focus on the 20882 ZIP code area in particular because it is the most homogeneous in Gaithersburg, with some of the largest lots and the most open, undeveloped land. I also live in this ZIP code and am very satisfied with the experience.

Market data and  commentary provided by David Hess, Executive Vice President and Managing Broker.

Search for homes in Gaithersburg, and all of the DC Metro: www.averyhess.com

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