The Long & Foster Market Minute

Focus On: Gaithersburg Housing Market September 2021

Zip Code(s): 20877, 20878, 20879, 20882, 20880 and 20899
Units Sold
187
Active Inventory
172
Median Sale Price
$495,000
Days On Market
20
Down -3%
Vs. Year Ago
Up 7%
Vs. Year Ago
Up 13%
Vs. Year Ago
Down -13%
Vs. Year Ago

Units Sold
There was an increase in total units sold in September, with 187 sold this month in Gaithersburg Real Estate versus 186 last month, an increase of 1%. This month's total units sold was lower than at this time last year, a decrease of 3% versus September 2020.

Active Inventory
Versus last year, the total number of homes available this month is higher by 11 units or 7%. The total number of active inventory this September was 172 compared to 161 in September 2020. This month's total of 172 is lower than the previous month's total supply of available inventory of 196, a decrease of 12%.

Median Sale Price
Last September, the median sale price for Gaithersburg Homes was $440,000. This September, the median sale price was approximately the same at $495,000. The current median sold price is 13% higher than in September 2020.

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


New Listings
253
Current Contracts
239
Sold Vs. List Price
101.0%
Months of Supply
0.9
Up 22%
Vs. Year Ago
Up 17%
Vs. Year Ago
Up 0.7%
Vs. Year Ago
No Change
Vs. Year Ago

Months of Supply
In September, there was 0.9 months of supply available in Gaithersburg. The amount of supply is similar compared to 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 253 homes newly listed for sale in Gaithersburg compared to 207 in September 2020, an increase of 22%. There were 239 current contracts pending sale this September compared to 204 a year ago. The number of current contracts is 17% higher than last September.

Sale Price to List Price Ratio
In September, the average sale price in Gaithersburg was 101.0% of the average list price, which is 0.7% higher than at this time last year.

Days on Market
This month, the average number of days on market was 20, lower than the average last year, which was 23, a decrease 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.