How's the Real Estate Market in 20878?

The real estate market in 20878 is looking pretty good overall.  Visit our website to see more details about the Gaithersburg real estate market and/or the North Potomac real estate market, with charts.

So far in 2012 the average home was listed for 76 days, compared to 72 days last year, so it is about comparable.

The average sold price for single family homes so far in 2012 was $611,366 and in 2011 it was $635,374.  The average sold price for attached homes (includes both condos and townhomes) was $324,714 in 2012, and in 2011 was $285,334.

This year, sellers are getting 95.2% of their asking price compared to 2011’s 94.4% of their asking price. 

As of the end of April, there have been 76 single family homes sold and 108 townhomes and condos sold.  Last year at this time, 83 single family homes and 113 attached homes had been sold, so volume is down a bit.

There have been 7 foreclosures and 27 short sales as of the end of April 2012.  The same time last year, there were 23 foreclosures 31 short sales so distressed properties have definitely decreased, which is a good market sign.

In April 2012, the neighborhood that saw the most sales activity was Lakelands.  The most expensive home that sold was a colonial in Belvedere for $1,100,000.  The most expensive town house sold for $589,000 in Crown Pointe.  You can visit our website to see more reports of homes that have sold in Gaithersburg and recent home sales in North Potomac neighborhoods.