$6,530 Closing Credit*
$549,900
1,708 SqFt
3 Beds
•3 Full Baths, 1 Partial
Zahid "Zach" Abbasi, Listing Office: RE/MAX Real Estate Connections
Is 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, 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
$601,375
$289/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$34,500(+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 $601,375 in November 2024, up 6.1% from last year, and the median price per square foot was $289.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $267K | $302.5K | +13.3% |
| 2 Bedrooms | $365.5K | $385K | +5.3% |
| 3 Bedrooms | $548K | $589K | +7.5% |
| 4 Bedrooms | $708K | $750K | +5.9% |
| 5+ Bedrooms | $890K | $900K | +1.1% |
Summary: Potomac housing prices by bedroom type for November 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 7.5%, 4 bedroom homes increased by 5.9%, and 5+ bedroom homes increased by 1.1%.
Median Sold Price Compared To Nearby Cities
| Sterling | $575.1K | $620.1K | +7.8% |
| Sugarland Run | $615K | $660K | +7.3% |
| Potomac | $566.8K | $601.3K | +6.1% |
| Dulles | $761K | $795.9K | +4.6% |
| Broad Run | $671.2K | $667.6K | -0.5% |
Housing Supply in Potomac, VA
How many homes are available in Potomac, VA?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 59 | 61 | +3.4% |
Summary: The Potomac real estate market had 61 homes for sale in November 2024, a 3.4% increase compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 3 | 2 | -33.3% |
| 2 Bedrooms | 11 | 10 | -9.1% |
| 3 Bedrooms | 24 | 30 | +25.0% |
| 4 Bedrooms | 16 | 15 | -6.3% |
| 5+ Bedrooms | 5 | 4 | -20.0% |
Summary: The Potomac housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 33.3%, 2 bedroom homes decreased by 9.1%, 3 bedroom homes increased by 25%, 4 bedroom homes decreased by 6.3%, and 5+ bedroom homes decreased by 20%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 19 | 26 | +36.8% |
Asking Price vs. Sold Price
7 Homes Were Sold
Under Asking
6 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. 50% of homes here sold above asking price last month.
Summary: A total of 26 homes were sold or pending in Potomac in November 2024, up by 36.8% month-over-month. Of the 26 sold homes, 27% were sold under asking, 23% were sold at asking, and 50% 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
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 15 Days | 17 Days | +8.8% |
Summary: Homes in Potomac had an average of 17 days on market in Nov 2024, up by 8.8% compared to last year.
Breakdown of Home Sale Times
21 Homes Were Sold
Under 30 Days
5 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, 26 homes were sold in Potomac; 81% of homes were sold within 30 days, 19% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
