Summary for Gaithersburg Real Estate and zip code 20878, the median sold price for Detached properties for September was $610,000, representing a decrease of 4.9% compared to last month and a decrease of 3.9% from Sep 2015. The average days on market for units sold in September was 51 days, 14% below the 5-year September average of 59 days. There was a 14.3% month over month increase in new contract activity with 32 New Pendings; a 28.1% MoM increase in All Pendings (new contracts + contracts carried over from August) to 41; and a 1% decrease in supply to 95 active units. This activity resulted in a Contract Ratio of 0.43 pendings per active listing, up from 0.33 in August and an increase from 0.40 in September 2015. The Contract Ratio is 8% higher than the 5-year September average of 0.40. A higher Contract Ratio signifies a relative increase in contract activity compared to supply, and indicates the market is moving in the seller’s favor. A lower Contract Ratio signifies a relative decrease in contract activity compared to supply, and indicates the market is moving in the buyer’s favor.
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