$8,906 Closing Credit*
$750,000
1,599 SqFt
4 Beds
•2 Full Baths
Charlotte Caroline Trux, Listing Office: KW Metro Center
Is Lower Potomac, VA 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, Lower Potomac has remained a Seller's Market.
Key Takeaway
Lower Potomac is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Lower Potomac, VA
How much do homes in Lower Potomac, VA cost?
Median Sold Price
$700,000
$297/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$78,000(+12.5%)
Key Takeaway
Homes in Lower Potomac have sold for 12.5% more than they did a year ago.
Summary: The median home sold price in Lower Potomac was $700,000 in November 2024, up 12.5% from last year, and the median price per square foot was $297.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $354K | $372.5K | +5.2% |
| 3 Bedrooms | $586.8K | $652K | +11.1% |
| 4 Bedrooms | $741K | $775K | +4.6% |
| 5+ Bedrooms | $863K | $990K | +14.7% |
Summary: Lower 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 increased by 5.2%, 3 bedroom homes increased by 11.1%, 4 bedroom homes increased by 4.6%, and 5+ bedroom homes increased by 14.7%.
Housing Supply in Lower Potomac, VA
How many homes are available in Lower Potomac, VA?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 57 | 52 | -8.8% |
Summary: The Lower Potomac real estate market had 52 homes for sale in November 2024, a 8.8% 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 | 11 | 11 | 0.0% |
| 3 Bedrooms | 22 | 20 | -9.1% |
| 4 Bedrooms | 13 | 14 | +7.7% |
| 5+ Bedrooms | 11 | 7 | -36.4% |
Summary: The Lower 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 decreased by 9.1%, 4 bedroom homes increased by 7.7%, and 5+ bedroom homes decreased by 36.4%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 18 | 19 | +5.6% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
6 Homes Were Sold
At Asking
8 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Lower Potomac, you could pay more than the asking price. 42.1% of homes here sold above asking price last month.
Summary: A total of 19 homes were sold or pending in Lower Potomac in November 2024, up by 5.6% month-over-month. Of the 19 sold homes, 26% were sold under asking, 32% were sold at asking, and 42% were sold over asking.
Days on Market for Lower Potomac, VA
How long does it take to sell a home in Lower Potomac, VA?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 16 Days | 17 Days | +7.9% |
Summary: Homes in Lower Potomac had an average of 17 days on market in Nov 2024, up by 7.9% compared to last year.
Breakdown of Home Sale Times
17 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Lower Potomac are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 19 homes were sold in Lower Potomac; 89% of homes were sold within 30 days, 11% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
