Is Potomac, VA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
Since last year, Potomac has remained a Seller's Market.
Housing Prices in Potomac, VA
How much do homes in Potomac, VA cost?
Median Sold Price
$578,550
$282/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Potomac was $578,550 in March 2024, up 2.4% from last year, and the median price per square foot was $282.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $259K | $275K | +6.2% |
2 Bedrooms | $357.5K | $366K | +2.4% |
3 Bedrooms | $547.7K | $566K | +3.3% |
4 Bedrooms | $720K | $717.5K | -0.3% |
5+ Bedrooms | $810K | $892.5K | +10.2% |
Summary: Potomac housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 6.2%, 2 bedroom homes increased by 2.4%, 3 bedroom homes increased by 3.3%, 4 bedroom homes decreased by 0.3%, and 5+ bedroom homes increased by 10.2%.
Median Sold Price Compared To Nearby Cities
Sterling | $515K | $589.9K | +14.5% |
Broad Run | $620.6K | $671.5K | +8.2% |
Sugarland Run | $599.5K | $628.7K | +4.9% |
Potomac | $565K | $578.5K | +2.4% |
Dulles | $747.6K | $761.5K | +1.9% |
Housing Supply in Potomac, VA
How many homes are available in Potomac, VA?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
67 | 75 | +11.9% |
Summary: The Potomac real estate market had 75 homes for sale in March 2024, a 11.9% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 13 | 13 | 0.0% |
3 Bedrooms | 24 | 29 | +20.8% |
4 Bedrooms | 23 | 26 | +13.0% |
5+ Bedrooms | 7 | 7 | 0.0% |
Summary: The Potomac housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes increased by 20.8%, 4 bedroom homes increased by 13%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
15 | 15 | 0.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
9 Homes Were Sold
Over Asking
Summary: A total of 15 homes were sold or pending in Potomac in March 2024, the same as the previous month. Of the 15 sold homes, 13% were sold under asking, 27% were sold at asking, and 60% 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
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
21 Days | 5 Days | -73.1% |
Summary: Homes in Potomac had an average of 5 days on market in Mar 2024, down by 73.1% compared to last year.
Breakdown of Home Sale Times
14 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During March 2024, 15 homes were sold in Potomac; 93% of homes were sold within 30 days, 7% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.