Gaithersburg home prices rise in the third quarter of 2020

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The median sale price of a home sold in the third quarter of 2020 in Gaithersburg rose by $69,900 while total sales increased by 5.2%, according to

From July through September of 2020, there were 163 homes sold, with a median sale price of $535,000 - a 15% increase over the $465,100 median sale price for the same period of the previous year. There were 155 homes sold in Gaithersburg in the third quarter of 2019.

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 the third quarter of 2020.

The following table compares Gaithersburg to other Montgomery County cities with similar median sales prices in the third quarter of 2020:

CityJuly - Sept. 2020 Home SalesJuly - Sept. 2019 Home Sales% change (Total Home Sales)July - Sept. 2020 Median Sales PriceJuly - Sept. 2019 Median Sales Price% change (Median Sales Price)
Silver Spring115137-16.1%$579,000$565,0002.5%
Forest Glen2025-20%$545,000$481,50013.2%
North Kensington49474.3%$535,000$445,00020.2%
Washington Grove4333.3%$531,500$281,00089.1%
White Oak442763%$514,750$425,00021.1%

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