$8,905 Closing Credit*
$749,900
1,906 SqFt
3 Beds
•3 Full Baths, 1 Partial
Meredith M Fogle, Listing Office: The List Realty
Is 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, 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, MD
How much do homes in Potomac, MD cost?
Median Sold Price
$1,275,500
$356/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$75,500(+6.3%)
Key Takeaway
Homes in Potomac have sold for 6.3% more than they did a year ago.
Summary: The median home sold price in Potomac was $1,275,500 in November 2024, up 6.3% from last year, and the median price per square foot was $356.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $223.7K | $235K | +5.0% |
| 2 Bedrooms | $309.5K | $325K | +5.0% |
| 3 Bedrooms | $852K | $870K | +2.1% |
| 4 Bedrooms | $1.1M | $1.2M | +9.1% |
| 5+ Bedrooms | $1.5M | $1.6M | +8.2% |
Summary: Potomac housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 5%, 2 bedroom homes increased by 5%, 3 bedroom homes increased by 2.1%, 4 bedroom homes increased by 9.1%, and 5+ bedroom homes increased by 8.2%.
Housing Supply in Potomac, MD
How many homes are available in Potomac, MD?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 111 | 94 | -15.3% |
Summary: The Potomac real estate market had 94 homes for sale in November 2024, a 15.3% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 5 | 5 | 0.0% |
| 2 Bedrooms | 10 | 6 | -40.0% |
| 3 Bedrooms | 12 | 13 | +8.3% |
| 4 Bedrooms | 34 | 24 | -29.4% |
| 5+ Bedrooms | 50 | 46 | -8.0% |
Summary: The 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 decreased by 40%, 3 bedroom homes increased by 8.3%, 4 bedroom homes decreased by 29.4%, and 5+ bedroom homes decreased by 8%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 46 | 29 | -37.0% |
Asking Price vs. Sold Price
13 Homes Were Sold
Under Asking
5 Homes Were Sold
At Asking
11 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Potomac, you may be able to get a good deal. 44.8% of homes here sold below asking price last month.
Summary: A total of 29 homes were sold or pending in Potomac in November 2024, down by 37.0% month-over-month. Of the 29 sold homes, 45% were sold under asking, 17% were sold at asking, and 38% were sold over asking.
Days on Market for Potomac, MD
How long does it take to sell a home in Potomac, MD?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 21 Days | 14 Days | -35.5% |
Summary: Homes in Potomac had an average of 14 days on market in Nov 2024, down by 35.5% compared to last year.
Breakdown of Home Sale Times
25 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Potomac are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 29 homes were sold in Potomac; 86% of homes were sold within 30 days, 14% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
