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Wednesday, November 27, 2024

Gaithersburg home prices rise in July 2018

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The median sale price of a home sold in July 2018 in Gaithersburg rose by $67,000 while total sales increased by 52.8%, according to BlockShopper.com.

In July 2018, there were 81 homes sold, with a median sale price of $500,000 - a 15.5% increase over the $433,000 median sale price for the same period of the previous year. There were 53 homes sold in Gaithersburg in July 2017.

The median sales tax in Gaithersburg for the most recent year with available data, 2016, was $5,166, approximately 1% of the median home sale price for July 2018.

The following table compares Gaithersburg to other Montgomery County cities with similar median sales prices in July 2018:

CityJuly 2018 Home SalesJuly 2017 Home Sales% change (Total Home Sales)July 2018 Median Sales PriceJuly 2017 Median Sales Price% change (Median Sales Price)
Silver Spring614148.8%$566,000$575,000-1.6%
Colesville272412.5%$530,000$451,50017.4%
Ashton-Sandy Spring10742.9%$529,999.50$527,5000.5%
Poolesville12119.1%$502,500$400,00025.6%
North Kensington187157.1%$502,000$485,0003.5%
Gaithersburg815352.8%$500,000$433,00015.5%
Forest Glen8560%$491,000$480,0002.3%
White Oak11110%$487,000$377,00029.2%
Olney533551.4%$479,900$610,000-21.3%
Derwood241560%$463,500$542,000-14.5%
Cloverly10666.7%$462,500$363,75027.1%

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