Gaithersburg MD Real Estate Market Report for Zip Code 20877

The June 2008 statistics on the real estate market in zip code 20877 shows a slightly slower market than in May. Twenty homes sold in May, compared to 18 in June. The average sold price among these properties did go up slightly, however, and there was an equal number of new contracts: 27. Here's how this section of Gaithersburg compared to Montgomery County Maryland as a whole:

In June 08 the average sale price in 20877 was $335,938, down from $392,844 in June 07, a decrease of 14.5%. Montgomery County MD, by comparison, had a downturn of 4.15% in the average sold price of a home.

Zip Code 20877 includes areas bordered by 270, north to Lakeforest Mall, east to Washington Grove and includes Audubon Square, Brighton East, Deer Park, Emory Grove, Foxwood, Hidden Creek, Mill Creek, Mineral Springs, Saybrooke, and Villa Ridge.

Average Days on Market for June was 114 (compare that to 84 days in June 2007). 73 new listings came on the market in June, compared to 58 new listings in May.

For more details, click on Gaithersburg MD Real Estate Market. Feel free to contact me to discuss the market.

Bob Myers, Re/Max Realty Services, 15020 Shady Grove Rd, Suite 400, Rockville, MD 20850

Cell 301-910-9910, Office 240-403-0400