Is North Potomac, MD a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, North Potomac has remained a Seller's Market.
Key Takeaway
North Potomac is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in North Potomac, MD
How much do homes in North Potomac, MD cost?
Median Sold Price
$875,000
$305/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in North Potomac have sold for 8.3% more than they did a year ago.
Summary: The median home sold price in North Potomac was $875,000 in April 2024, up 8.3% from last year, and the median price per square foot was $305.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $450K | $586.5K | +30.3% |
| 3 Bedrooms | $518K | $603K | +16.4% |
| 4 Bedrooms | $817.5K | $885K | +8.3% |
| 5+ Bedrooms | $960K | $992K | +3.3% |
Summary: North Potomac housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 30.3%, 3 bedroom homes increased by 16.4%, 4 bedroom homes increased by 8.3%, and 5+ bedroom homes increased by 3.3%.
Median Sold Price Compared To Nearby Neighborhoods
| DuFief | $737.5K | $860K | +16.6% |
| North Potomac | $808K | $875K | +8.3% |
Housing Supply in North Potomac, MD
How many homes are available in North Potomac, MD?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 39 | 47 | +20.5% |
Summary: The North Potomac real estate market had 47 homes for sale in April 2024, a 20.5% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 1 | 0 | -100.0% |
| 3 Bedrooms | 7 | 7 | 0.0% |
| 4 Bedrooms | 21 | 23 | +9.5% |
| 5+ Bedrooms | 10 | 17 | +70.0% |
Summary: The North Potomac housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 100%, 3 bedroom homes remained the same, 4 bedroom homes increased by 9.5%, and 5+ bedroom homes increased by 70%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 15 | 10 | -33.3% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
9 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in North Potomac, you could pay more than the asking price. 90% of homes here sold above asking price last month.
Summary: A total of 10 homes were sold or pending in North Potomac in April 2024, down by 33.3% month-over-month. Of the 10 sold homes, 0% were sold under asking, 10% were sold at asking, and 90% were sold over asking.
Days on Market for North Potomac, MD
How long does it take to sell a home in North Potomac, MD?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 6 Days | 10 Days | +48.8% |
Summary: Homes in North Potomac had an average of 10 days on market in Apr 2024, up by 48.8% compared to last year.
Breakdown of Home Sale Times
9 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in North Potomac are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 10 homes were sold in North Potomac; 90% of homes were sold within 30 days, 10% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
