$3,919 Closing Credit*
$330,000
991 SqFt
2 Beds
•1 Full Bath
Eric W Lutz, Listing Office: Long & Foster Real Estate, Inc.
Is Upper 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, Upper Potomac has remained a Seller's Market.
Key Takeaway
Upper Potomac is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Upper Potomac, VA
How much do homes in Upper Potomac, VA cost?
Median Sold Price
$707,730
$341/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$52,446(+8.0%)
Key Takeaway
Homes in Upper Potomac have sold for 8% more than they did a year ago.
Summary: The median home sold price in Upper Potomac was $707,730 in October 2024, up 8% from last year, and the median price per square foot was $341.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $285K | $300K | +5.3% |
| 2 Bedrooms | $380K | $415K | +9.2% |
| 3 Bedrooms | $575K | $632.5K | +10.0% |
| 4 Bedrooms | $825.6K | $900.2K | +9.0% |
| 5+ Bedrooms | $1.2M | $1.3M | +5.7% |
Summary: Upper Potomac housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 5.3%, 2 bedroom homes increased by 9.2%, 3 bedroom homes increased by 10%, 4 bedroom homes increased by 9%, and 5+ bedroom homes increased by 5.7%.
Housing Supply in Upper Potomac, VA
How many homes are available in Upper Potomac, VA?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 503 | 534 | +6.2% |
Summary: The Upper Potomac real estate market had 534 homes for sale in October 2024, a 6.2% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 32 | 28 | -12.5% |
| 2 Bedrooms | 89 | 110 | +23.6% |
| 3 Bedrooms | 138 | 127 | -8.0% |
| 4 Bedrooms | 132 | 151 | +14.4% |
| 5+ Bedrooms | 112 | 118 | +5.4% |
Summary: The Upper Potomac housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 12.5%, 2 bedroom homes increased by 23.6%, 3 bedroom homes decreased by 8%, 4 bedroom homes increased by 14.4%, and 5+ bedroom homes increased by 5.4%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 164 | 185 | +12.8% |
Asking Price vs. Sold Price
47 Homes Were Sold
Under Asking
44 Homes Were Sold
At Asking
94 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Upper Potomac, you could pay more than the asking price. 50.8% of homes here sold above asking price last month.
Summary: A total of 185 homes were sold or pending in Upper Potomac in October 2024, up by 12.8% month-over-month. Of the 185 sold homes, 25% were sold under asking, 24% were sold at asking, and 51% were sold over asking.
Days on Market for Upper Potomac, VA
How long does it take to sell a home in Upper Potomac, VA?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 14 Days | 13 Days | -6.5% |
Summary: Homes in Upper Potomac had an average of 13 days on market in Oct 2024, down by 6.5% compared to last year.
Breakdown of Home Sale Times
159 Homes Were Sold
Under 30 Days
25 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Upper Potomac are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 185 homes were sold in Upper Potomac; 86% of homes were sold within 30 days, 14% of homes were sold within 30 to 90 days, and 1% of homes were sold over 90 days.
