$6,411 Closing Credit*
$539,900
1,200 SqFt
3 Beds
•1 Full Bath, 1 Partial
Kenneth C Maites, Listing Office: Compass
Is North Potomac, MD a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 2023
Since last year, North Potomac has remained a Seller's Market.
Key Takeaway
North Potomac is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in North Potomac, MD
How much do homes in North Potomac, MD cost?
Median Sold Price
$895,000
$315/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$43,000(+5.0%)
Key Takeaway
Homes in North Potomac have sold for 5% more than they did a year ago.
Summary: The median home sold price in North Potomac was $895,000 in November 2024, up 5% from last year, and the median price per square foot was $315.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $586.5K | $466.5K | -20.5% |
| 3 Bedrooms | $557K | $635K | +14.0% |
| 4 Bedrooms | $865.7K | $900K | +4.0% |
| 5+ Bedrooms | $975K | $1.0M | +10.8% |
Summary: North Potomac housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 20.5%, 3 bedroom homes increased by 14%, 4 bedroom homes increased by 4%, and 5+ bedroom homes increased by 10.8%.
Housing Supply in North Potomac, MD
How many homes are available in North Potomac, MD?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 41 | 32 | -22.0% |
Summary: The North Potomac real estate market had 32 homes for sale in November 2024, a 22.0% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 1 | 1 | 0.0% |
| 3 Bedrooms | 11 | 11 | 0.0% |
| 4 Bedrooms | 17 | 12 | -29.4% |
| 5+ Bedrooms | 12 | 8 | -33.3% |
Summary: The North Potomac housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes remained the same, 4 bedroom homes decreased by 29.4%, and 5+ bedroom homes decreased by 33.3%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 17 | 11 | -35.3% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
6 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in North Potomac, you could pay more than the asking price. 54.5% of homes here sold above asking price last month.
Summary: A total of 11 homes were sold or pending in North Potomac in November 2024, down by 35.3% month-over-month. Of the 11 sold homes, 36% were sold under asking, 9% were sold at asking, and 55% were sold over asking.
Days on Market for North Potomac, MD
How long does it take to sell a home in North Potomac, MD?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 13 Days | 15 Days | +14.0% |
Summary: Homes in North Potomac had an average of 15 days on market in Nov 2024, up by 14% compared to last year.
Breakdown of Home Sale Times
10 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in North Potomac are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 11 homes were sold in North Potomac; 91% of homes were sold within 30 days, 9% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
