The Long & Foster Market Minute

Focus On: Gaithersburg Housing Market December 2022

Zip Code(s): 20877, 20878, 20879, 20882, 20880 and 20899
Units Sold
Active Inventory
Median Sale Price
Days On Market
Vs. Year Ago
Down -13%
Vs. Year Ago
Up 1%
Vs. Year Ago
Up 13%
Vs. Year Ago

Units Sold
There was a decrease in total units sold in December, with 85 sold this month in Gaithersburg Real Estate. This month's total units sold was lower than at this time last year.

Active Inventory
Versus last year, the total number of homes available this month is lower by 11 units or 13%. The total number of active inventory this December was 76 compared to 87 in December 2021. This month's total of 76 is lower than the previous month's total supply of available inventory of 113, a decrease of 33%.

Median Sale Price
Last December, the median sale price for Gaithersburg Homes was $482,000. This December, the median sale price was $485,000, an increase of 1% or $3,000 compared to last year. The current median sold price is 3% lower than in November.

Median sale price is the middle sale price in a given month. The same number of properties are above & below the median.

New Listings
Current Contracts
Sold Vs. List Price
Months of Supply
Down -52%
Vs. Year Ago
Down -50%
Vs. Year Ago
No Change
Vs. Year Ago
Up 85%
Vs. Year Ago

Months of Supply
In December, there was 0.9 months of supply available in Gaithersburg, compared to 0.5 in December 2021. That is an increase of 87% versus a year ago.

Months of supply is calculated by dividing current inventory by current sales. It indicates how many months would be needed to sell all of the inventory available at the current rate of demand.

New Listings & Current Contracts
This month there were 42 homes newly listed for sale in Gaithersburg compared to 88 in December 2021, a decrease of 52%. There were 57 current contracts pending sale this December compared to 115 a year ago. The number of current contracts is 50% lower than last December.

Sale Price to List Price Ratio
In December, the average sale price in Gaithersburg was 100.1% of the average list price, which is similar compared to a year ago.

Days on Market
This month, the average number of days on market was 26, higher than the average last year, which was 23, an increase of 13%.

The Long & Foster Market Minute Gaithersburg are defined as properties listed in zip code/s 20877, 20878, 20879, 20882, 20880 and 20899.
*Detached, Attached, and Condo varies by local area Multiple Listing Service (MLS) definition. For more information regarding your specific market, contact one of Long & Foster's knowledgeable and experienced sales associates.
REALTOR, Equal Opportunity HousingInformation included in this report is based on data supplied by BRIGHTMLS and its member Association(s) of REALTORS, who are not responsible for its accuracy. Does not reflect all activity in the marketplace. Information contained in this report is deemed reliable but not guaranteed, should be independently verified, and does not constitute an opinion of BRIGHTMLS or Long & Foster Real Estate, Inc.