GAITHERSBURG HOUSING MARKET DATA

There was a decrease in total units sold in July, with 117 sold this month in Gaithersburg Real Estate versus 126 last month, a decrease of 7%. This month's total units sold was lower than at this time last year, a decrease of 6% versus July 2023.

Versus last year, the total number of homes available this month is higher by 21 units or 19%. The total number of active inventory this July was 134 compared to 113 in July 2023. This month's total of 134 is lower than the previous month's total supply of available inventory of 160, a decrease of 16%.

Last July, the median sale price for Gaithersburg Homes was $571,000. This July, the median sale price was $614,760, an increase of 8% or $43,760 compared to last year. The current median sold price is 5% lower than in June.

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

In July, there was 1.1 months of supply available in Gaithersburg, compared to 0.9 in July 2023. That is an increase of 27% 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.

This month there were 122 homes newly listed for sale in Gaithersburg, which is similar to the amount in July 2023. There were 125 current contracts pending sale this July compared to 101 a year ago. The number of current contracts is 24% higher than last July.

In July, the average sale price in Gaithersburg was 101.5% of the average list price, which is similar compared to a year ago.

This month, the average number of days on market was 19, higher than the average last year, which was 13, an increase of 46%.





FOCUS ON: GAITHERSBURG HOUSING MARKET			JULY 2024

Zip Code(s): 20877, 20878, 20879, 20882, 20880 and 20899
Units Sold 117	Active Inventory 134	Median Sale Price $614,760	Days On Market 19

Down -6% Vs. Year Ago	Up 19% Vs. Year Ago	Up 8% Vs. Year Ago	Up 46% Vs. Year Ago


		Units Sold There was a decrease in total units sold in July, with 117 sold this month in Gaithersburg Real Estate versus 126 last month, a decrease of 7%. This month's total units sold was lower than at this time last year, a decrease of 6% versus July 2023.
Active Inventory Versus last year, the total number of homes available this month is higher by 21 units or 19%. The total number of active inventory this July was 134 compared to 113 in July 2023. This month's total of 134 is lower than the previous month's total supply of available inventory of 160, a decrease of 16%.
		Median Sale Price Last July, the median sale price for Gaithersburg Homes was $571,000. This July, the median sale price was $614,760, an increase of 8% or $43,760 compared to last year. The current median sold price is 5% lower than in June. Median sale price is the middle sale price in a given month. The same number of properties are above & below the median.



New Listings 122	Current Contracts 125	Sold Vs. List Price 101.5%	Months of Supply 1.1

No Change Vs. Year Ago	Up 24% Vs. Year Ago	No Change Vs. Year Ago	Up 28% Vs. Year Ago


		Months of Supply In July, there was 1.1 months of supply available in Gaithersburg, compared to 0.9 in July 2023. That is an increase of 27% 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 122 homes newly listed for sale in Gaithersburg, which is similar to the amount in July 2023. There were 125 current contracts pending sale this July compared to 101 a year ago. The number of current contracts is 24% higher than last July.
		Sale Price to List Price Ratio In July, the average sale price in Gaithersburg was 101.5% 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 19, higher than the average last year, which was 13, an increase of 46%.


	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.
	Information 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.