North Potomac Gaithersburg 20878 Market Report

How’s the Gaithersburg & North Potomac Real Estate Market?

The Gaithersburg - North Potomac real estate market saw strong activity for May and June 2011.

What Has Sold?

In May, 27 single family homes, 25 townhomes, 12 condos were sold. Of these, 10 were short sales and 8 were foreclosures, so distressed properties made up 28% of total sales. In June, 38 single family homes, 25 townhomes and 18 condos were sold. Of these, 5 were short sales and 4 were foreclosures, so distressed properties made up 11% of total sales in the North Potomac and Gaithersburg zip code of 20878. You can see more details about what is selling in our Gaithersburg Property Values page and North Potomac Property Values page.



What Is Happening with Home Prices?

The average sales price is up for condos, townhomes and single family homes. A change in the average sales price for one month is not necessarily an indication of a trend, it could just indicate that more homes were sold in a (more/less expensive) neighborhood of Gaithersburg. To sign up for an automatic update on what is selling in your neighborhood, visit our Market Snapshot report page.

How Long Is it Taking to Sell a Home?

The average days on market stayed the same in May and June, but is just a bit higher compared to last year. To get more details on market trends, visit our Gaithersburg MD real estate slideshow presentation.

Who is Buying?

In May, cash buyers (usually investors) represented 17% of buyers in Gaithersburg, less than in April. In June, only 7% were cash buyers. Overall in Montgomery County, cash buyers made up 17% of the home sales in both May and June.

What is For Sale?

Click on the map below to start your home search, save your favorites, set up automatic emails, and receive alerts for properties that fit your criteria.



Call Bob Myers of Re/Max Realty Services at 301-910-9910 if you have any questions about the value of your home or the real estate market.