$3,500,000
9,059 SqFt
6 Beds
•6 Full Baths, 2 Partial
Shamein Qadri, Listing Office: Compass
Is Upper 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, 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
$715,116
$342/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$53,311(+8.1%)
Key Takeaway
Homes in Upper Potomac have sold for 8.1% more than they did a year ago.
Summary: The median home sold price in Upper Potomac was $715,116 in November 2024, up 8.1% from last year, and the median price per square foot was $342.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $292K | $302.5K | +3.6% |
| 2 Bedrooms | $381K | $411.5K | +8.0% |
| 3 Bedrooms | $580.5K | $634.2K | +9.3% |
| 4 Bedrooms | $824.6K | $914.3K | +10.9% |
| 5+ Bedrooms | $1.2M | $1.3M | +7.2% |
Summary: Upper Potomac housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 3.6%, 2 bedroom homes increased by 8%, 3 bedroom homes increased by 9.3%, 4 bedroom homes increased by 10.9%, and 5+ bedroom homes increased by 7.2%.
Housing Supply in Upper Potomac, VA
How many homes are available in Upper Potomac, VA?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 486 | 419 | -13.8% |
Summary: The Upper Potomac real estate market had 419 homes for sale in November 2024, a 13.8% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 27 | 22 | -18.5% |
| 2 Bedrooms | 102 | 86 | -15.7% |
| 3 Bedrooms | 114 | 101 | -11.4% |
| 4 Bedrooms | 137 | 117 | -14.6% |
| 5+ Bedrooms | 106 | 93 | -12.3% |
Summary: The Upper Potomac housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 18.5%, 2 bedroom homes decreased by 15.7%, 3 bedroom homes decreased by 11.4%, 4 bedroom homes decreased by 14.6%, and 5+ bedroom homes decreased by 12.3%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 193 | 156 | -19.2% |
Asking Price vs. Sold Price
62 Homes Were Sold
Under Asking
34 Homes Were Sold
At Asking
60 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Upper Potomac, you may be able to get a good deal. 39.7% of homes here sold below asking price last month.
Summary: A total of 156 homes were sold or pending in Upper Potomac in November 2024, down by 19.2% month-over-month. Of the 156 sold homes, 40% were sold under asking, 22% were sold at asking, and 38% 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
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 15 Days | 23 Days | +48.1% |
Summary: Homes in Upper Potomac had an average of 23 days on market in Nov 2024, up by 48.1% compared to last year.
Breakdown of Home Sale Times
123 Homes Were Sold
Under 30 Days
22 Homes Were Sold
In 30 - 90 Days
11 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Upper Potomac are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 156 homes were sold in Upper Potomac; 79% of homes were sold within 30 days, 14% of homes were sold within 30 to 90 days, and 7% of homes were sold over 90 days.
