Gaithersburg, MD Market Report – 2/25/10

25 Feb
February 25, 2010
For the month of January, the average sales price in Gaithersburg took a two percent drop from the previous month in large part due to the majority of lower priced sales. Thus the average fell from $312,311 to $298,534. Below you’ll find statistics as well as a full report for Gaithersburg, Maryland.
  • Homes for sale: 697
  • Closed sales: 108 (down 24% from December 2009)
  • Average sold price: $298,534 (median price is up 4.8% from same time one year ago)
  • Average days on market: 81

The 24% drop in the number of closings from December 2009 to January 2010 is nothing to fear. There is always a rush to close at the end of the year and the result is that January is almost always a relatively low closing month.

Meanwhile, almost any home priced under $350,000 in Gaithersburg is receiving multiple offers. Furthermore, the average days on market was 126 days one year ago, 73 days last month, and 81 days and this month.  It takes on average, about 75 days for a well-priced house in good condition to sell.

Market data and commentary provided by David Hess, Executive Vice President and Managing Broker. To give you an idea about the wide range of prices in Gaithersburg, David’s two-acre home has four bedrooms, 2.5 baths, a side load two car garage, a huge screen porch on the back of the house and is is for sale for $689,00. Call Seema Rodriguez at (301) 922-1770 for more information.

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

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