Is Potomac Lakes, VA 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, Potomac Lakes has remained a Seller's Market.
Housing Prices in Potomac Lakes, VA
How much do homes in Potomac Lakes, VA cost?
Median Sold Price
$660,000
$269/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Potomac Lakes was $660,000 in April 2024, down 8.7% from last year, and the median price per square foot was $269.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | - | N/A |
2 Bedrooms | $437.5K | $435K | -0.6% |
3 Bedrooms | $565K | $610K | +8.0% |
4 Bedrooms | $772.5K | $768.5K | -0.5% |
5+ Bedrooms | $915K | $895K | -2.2% |
Summary: Potomac Lakes 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 decreased by 0.6%, 3 bedroom homes increased by 8%, 4 bedroom homes decreased by 0.5%, and 5+ bedroom homes decreased by 2.2%.
Median Sold Price Compared To Nearby Neighborhoods
Cascades | $619K | $610K | -1.5% |
Potomac Lakes | $722.5K | $660K | -8.7% |
Housing Supply in Potomac Lakes, VA
How many homes are available in Potomac Lakes, VA?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
20 | 27 | +35.0% |
Summary: The Potomac Lakes real estate market had 27 homes for sale in April 2024, a 35.0% 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 | 10 | 11 | +10.0% |
4 Bedrooms | 8 | 10 | +25.0% |
5+ Bedrooms | 1 | 6 | +500.0% |
Summary: The Potomac Lakes 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 increased by 10%, 4 bedroom homes increased by 25%, and 5+ bedroom homes increased by 500%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
11 | 8 | -27.3% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
2 Homes Were Sold
At Asking
5 Homes Were Sold
Over Asking
Summary: A total of 8 homes were sold or pending in Potomac Lakes in April 2024, down by 27.3% month-over-month. Of the 8 sold homes, 13% were sold under asking, 25% were sold at asking, and 63% were sold over asking.
Days on Market for Potomac Lakes, VA
How long does it take to sell a home in Potomac Lakes, VA?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
3 Days | 8 Days | +117.1% |
Summary: Homes in Potomac Lakes had an average of 8 days on market in Apr 2024, up by 117.1% compared to last year.
Breakdown of Home Sale Times
7 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During April 2024, 8 homes were sold in Potomac Lakes; 88% of homes were sold within 30 days, 13% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.