$5,047 Closing Credit*
$425,000
1,476 SqFt
2 Beds
•2 Full Baths
Dorothy S Beach, Listing Office: Samson Properties
Is Potomac, VA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 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, VA
How much do homes in Potomac, VA cost?
Median Sold Price
$599,999
$289/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$34,374(+6.1%)
Key Takeaway
Homes in Potomac have sold for 6.1% more than they did a year ago.
Summary: The median home sold price in Potomac was $599,999 in October 2024, up 6.1% from last year, and the median price per square foot was $289.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $267K | $302.5K | +13.3% |
| 2 Bedrooms | $365.5K | $385K | +5.3% |
| 3 Bedrooms | $546K | $589.2K | +7.9% |
| 4 Bedrooms | $706.1K | $750K | +6.2% |
| 5+ Bedrooms | $890K | $900K | +1.1% |
Summary: Potomac housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 13.3%, 2 bedroom homes increased by 5.3%, 3 bedroom homes increased by 7.9%, 4 bedroom homes increased by 6.2%, and 5+ bedroom homes increased by 1.1%.
Median Sold Price Compared To Nearby Cities
| Sterling | $571.8K | $619.9K | +8.4% |
| Sugarland Run | $610K | $660K | +8.2% |
| Potomac | $565.6K | $599.9K | +6.1% |
| Dulles | $760.1K | $793.3K | +4.4% |
| Broad Run | $670K | $662K | -1.2% |
Housing Supply in Potomac, VA
How many homes are available in Potomac, VA?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 64 | 65 | +1.6% |
Summary: The Potomac real estate market had 65 homes for sale in October 2024, a 1.6% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 3 | +50.0% |
| 2 Bedrooms | 9 | 10 | +11.1% |
| 3 Bedrooms | 32 | 28 | -12.5% |
| 4 Bedrooms | 17 | 18 | +5.9% |
| 5+ Bedrooms | 4 | 6 | +50.0% |
Summary: The Potomac housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 50%, 2 bedroom homes increased by 11.1%, 3 bedroom homes decreased by 12.5%, 4 bedroom homes increased by 5.9%, and 5+ bedroom homes increased by 50%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 25 | 19 | -24.0% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
5 Homes Were Sold
At Asking
9 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Potomac, you could pay more than the asking price. 47.4% of homes here sold above asking price last month.
Summary: A total of 19 homes were sold or pending in Potomac in October 2024, down by 24.0% month-over-month. Of the 19 sold homes, 26% were sold under asking, 26% were sold at asking, and 47% were sold over asking.
Days on Market for Potomac, VA
How long does it take to sell a home in Potomac, VA?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 15 Days | 14 Days | -5.8% |
Summary: Homes in Potomac had an average of 14 days on market in Oct 2024, down by 5.8% 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 Potomac are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 19 homes were sold in 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.
