$10,000 Closing Credit*
$939,000
1,964 SqFt
3 Beds
•2 Full Baths, 1 Partial
Kerry A Adams, Listing Office: Compass
Is Potomac West, 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 West has remained a Seller's Market.
Key Takeaway
Potomac West is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Potomac West, VA
How much do homes in Potomac West, VA cost?
Median Sold Price
$835,000
$574/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$11,100(+1.3%)
Key Takeaway
Homes in Potomac West have sold for 1.3% more than they did a year ago.
Summary: The median home sold price in Potomac West was $835,000 in October 2024, up 1.3% from last year, and the median price per square foot was $574.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $300K | $400K | +33.3% |
| 2 Bedrooms | $750K | $740K | -1.3% |
| 3 Bedrooms | $824.9K | $860K | +4.3% |
| 4 Bedrooms | $1.2M | $1.2M | +6.3% |
| 5+ Bedrooms | $1.7M | $1.8M | +5.4% |
Summary: Potomac West housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 33.3%, 2 bedroom homes decreased by 1.3%, 3 bedroom homes increased by 4.3%, 4 bedroom homes increased by 6.3%, and 5+ bedroom homes increased by 5.4%.
Median Sold Price Compared To Nearby Neighborhoods
| North Ridge / Rosemont | $557.5K | $675K | +21.1% |
| Del Ray | $829.4K | $863.3K | +4.1% |
| Potomac West | $823.9K | $835K | +1.3% |
| North Ridge | $1.0M | $996.2K | -0.4% |
Housing Supply in Potomac West, VA
How many homes are available in Potomac West, VA?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 48 | 53 | +10.4% |
Summary: The Potomac West real estate market had 53 homes for sale in October 2024, a 10.4% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 3 | 5 | +66.7% |
| 2 Bedrooms | 14 | 14 | 0.0% |
| 3 Bedrooms | 22 | 25 | +13.6% |
| 4 Bedrooms | 4 | 3 | -25.0% |
| 5+ Bedrooms | 5 | 6 | +20.0% |
Summary: The Potomac West housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 66.7%, 2 bedroom homes remained the same, 3 bedroom homes increased by 13.6%, 4 bedroom homes decreased by 25%, and 5+ bedroom homes increased by 20%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 12 | 14 | +16.7% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
9 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Potomac West, you could pay more than the asking price. 64.3% of homes here sold above asking price last month.
Summary: A total of 14 homes were sold or pending in Potomac West in October 2024, up by 16.7% month-over-month. Of the 14 sold homes, 14% were sold under asking, 21% were sold at asking, and 64% were sold over asking.
Days on Market for Potomac West, VA
How long does it take to sell a home in Potomac West, VA?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 13 Days | 9 Days | -31.1% |
Summary: Homes in Potomac West had an average of 9 days on market in Oct 2024, down by 31.1% compared to last year.
Breakdown of Home Sale Times
12 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 West are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 14 homes were sold in Potomac West; 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.
