Gaithersburg, MD Market Report 4/16/10

16 Apr
April 16, 2010

For the month of March, the average sales price in Gaithersburg took a departure 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: 821 (up from 700 last month and down from 995 one year ago)
  • Closed sales: 154 (up from 96 in snowy February and up from 129 one year ago)
  • Average sold price: $294,030 (down from $315,530 last month and down from $337,730 one year ago)
  • Average days on market: 68 (down from 113 last month and 122 days from one year ago)

It is the Spring market, so houses are coming onto the market as property owners decide to sell and move in anticipation of the end of school and the summer moving season.

Since much of the sales activity in the last few months in and around Gaithersburg is the lower priced homes selling to first time buyers and investors, the average sales price has been pulled way down as the number of transactions has jumped way up.

Gaithersburg, which is just North of Rockville, has both charm and history.  The historic Old Town has preserved many old buildings turning them into restaurants, brew pubs and shops.  The old train station is still in use and retains it charm and character.  Most Saturdays you can find farmer’s markets, flea markets and the like around Old Town.

Data, analysis, and commentary provided by David Hess, Executive Vice President.

Find your in Gaithersburg and all of Montgomery County: www.averyhess.com

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