Inventory in Gaithersburg is pretty stable. The number of sales per month is down but houses on the market are still selling in a timely manner. I am still expecting that new contracts being written will be slowing some as we reach a new level of stability. It is possible that we are at that stabilized level now, however only time will tell.
Here are the statistics for Gaithersburg:
- Homes for sale: 894 (very stable over the past four months, up from 813 in August one year ago)
- Homes Sold: 142 (down from 160 in July, down from 180 sales one year ago)
- Average sold price: $340,058 (up from $331,238 in June, down from $343,284 one year ago)-but look at how stable that is!
- Average days on market: 71 (very stable throughout 2010 and back to last year when it was 75 days in August 2009)
What says fall better than crisp, cool mornings, leaves turning beautiful reds, yellows and oranges and the sound of high school football games on a Friday night at any one of the three high schools that call Gaithersburg home. On Saturday mornings you can see kids of all ages playing soccer or football at one of the athletic fields in Gaithersburg on teams sponsored by the Gaithersburg Boys and Girls Club or the Montgomery Village sports association. There is still plenty of time to enjoy a game of golf at one of the public golf courses in the area or pick up a game of tennis. Or get out and enjoy the walking trails and parks in Gaithersburg while the weather is still inviting!
Commentary and analysis provided by David Hess, Executive Vice President.