Gaithersburg MD Homes For Sale – Market Update

Anyone looking at Gaithersburg MD homes for sale and searching for some statistical analysis will find several different and somewhat contradictory trends.  For instance, if you were to look only at prices, such as the graph below, you would be pleased, even if a bit surprised.  I guess that assumes that you are a seller, and want to see the prices rise.  Buyers would probably like to see a softening market, which we have seen in many local areas, but this particular community has actually seen rising prices over the past two years.

Gaithersburg MD Median Asking Prices

If we look at the black line on the graph above, which tracks weekly data points of the median asking price of all of the homes for sale in Gaithersburg MD, including Kentlands homes for sale, we see that in November of 2009, the median asking price was a little under $475,000.  Now, 24 months later, that same measurement shows a value of $575,000, a rise of $100,000, which most areas are not seeing!  This statistic shows promise and would make most people think that the area is on the rebound and doing well, in a real estate sense.

But the fact that asking prices are rising doesn’t tell us the whole story.  What if only one or two homes had sold, and they were very expensive?  That would drive the prices up, correct?  But it wouldn’t give us an accurate view of the marketplace.  To help round out our review, let’s look at another statistic, this one shows just how many homes are for sale at any given time in Gaithersburg.

Gaithersburg Homes For Sale Inventory

At the same time that asking prices have been rising, it appears that the overall number of homes for sale has also increased.  Usually, if prices are rising, we would expect to see inventory levels dropping, making the market tighter and reducing competition.  But that’s not the case here, which lets us know that there are some conflicting trends occurring here, making it even more difficult to making your way through the local market.

If you find that you need some extra help deciphering the tea leaves of market activity in Gaithersburg or any other community in and around DC, please don’t hesitate to contact us.

 

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