Real Estate Market Report for March 2011

For March 2011 the average price of a home in the Gaithersburg, North Potomac and Darnestown zip code of 20878 was $419,201 - lower than the last two months, primarily because of the larger volume of condos being sold. The average detached home sold for $649,825 and the average attached home sold for $291,076.

There were 7 short sales and 5 foreclosures that sold out of a total of 56 units: 20 single families, 19 townhomes and 17 condos. Cash buyers comprised almost 22% of the sales.

Visit our website for more details about the North Potomac real estate market including interactive charts with data on the average sold price, the number of days on market, the short sale and foreclosure trends and the sales price trends for the past three years.

Zip code 20878 continues to be one of the better performing zip codes in Montgomery County, especially in the Wootton High School cluster areas. For more information contact Bob Myers of RE/MAX Realty Services at 301-910-9910.