Is Potomac, WV a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Potomac has remained a Seller's Market.
Key Takeaway
Potomac is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Potomac, WV
How much do homes in Potomac, WV cost?
Median Sold Price
$289,962
$161/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Potomac have sold for 3.6% more than they did a year ago.
Summary: The median home sold price in Potomac was $289,962 in May 2024, up 3.6% from last year, and the median price per square foot was $161.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $150K | N/A |
| 2 Bedrooms | $222.1K | $288.5K | +29.9% |
| 3 Bedrooms | $265K | $274.9K | +3.8% |
| 4 Bedrooms | $375.2K | $362.6K | -3.4% |
| 5+ Bedrooms | $418.7K | $525K | +25.4% |
Summary: Potomac housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 29.9%, 3 bedroom homes increased by 3.8%, 4 bedroom homes decreased by 3.4%, and 5+ bedroom homes increased by 25.4%.
Median Sold Price Compared To Nearby Cities
| Tuscarora | $278.2K | $304.7K | +9.5% |
| Martinsburg | $265K | $287.7K | +8.6% |
| Norborne | $325K | $349.9K | +7.7% |
| Falling Waters | $283K | $300K | +6.0% |
| Potomac | $280K | $289.9K | +3.6% |
Housing Supply in Potomac, WV
How many homes are available in Potomac, WV?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 135 | 157 | +16.3% |
Summary: The Potomac real estate market had 157 homes for sale in May 2024, a 16.3% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 6 | 5 | -16.7% |
| 3 Bedrooms | 84 | 94 | +11.9% |
| 4 Bedrooms | 37 | 49 | +32.4% |
| 5+ Bedrooms | 8 | 9 | +12.5% |
Summary: The Potomac housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 16.7%, 3 bedroom homes increased by 11.9%, 4 bedroom homes increased by 32.4%, and 5+ bedroom homes increased by 12.5%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 27 | 29 | +7.4% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
11 Homes Were Sold
At Asking
13 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Potomac, you could pay more than the asking price. 44.8% of homes here sold above asking price last month.
Summary: A total of 29 homes were sold or pending in Potomac in May 2024, up by 7.4% month-over-month. Of the 29 sold homes, 17% were sold under asking, 38% were sold at asking, and 45% were sold over asking.
Days on Market for Potomac, WV
How long does it take to sell a home in Potomac, WV?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 40 Days | 17 Days | -55.4% |
Summary: Homes in Potomac had an average of 17 days on market in May 2024, down by 55.4% compared to last year.
Breakdown of Home Sale Times
24 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Potomac are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 29 homes were sold in Potomac; 83% of homes were sold within 30 days, 14% of homes were sold within 30 to 90 days, and 3% of homes were sold over 90 days.
