Is Upper Potomac, 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, 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
$683,589
$328/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Upper Potomac have sold for 6.6% more than they did a year ago.
Summary: The median home sold price in Upper Potomac was $683,589 in April 2024, up 6.6% from last year, and the median price per square foot was $328.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $284.7K | $294K | +3.2% |
| 2 Bedrooms | $374.9K | $390K | +4.0% |
| 3 Bedrooms | $570K | $600.1K | +5.3% |
| 4 Bedrooms | $825K | $857.4K | +3.9% |
| 5+ Bedrooms | $1.1M | $1.2M | +4.8% |
Summary: Upper Potomac housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 3.2%, 2 bedroom homes increased by 4%, 3 bedroom homes increased by 5.3%, 4 bedroom homes increased by 3.9%, and 5+ bedroom homes increased by 4.8%.
Housing Supply in Upper Potomac, VA
How many homes are available in Upper Potomac, VA?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 424 | 589 | +38.9% |
Summary: The Upper Potomac real estate market had 589 homes for sale in April 2024, a 38.9% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 17 | 23 | +35.3% |
| 2 Bedrooms | 102 | 125 | +22.5% |
| 3 Bedrooms | 111 | 144 | +29.7% |
| 4 Bedrooms | 104 | 163 | +56.7% |
| 5+ Bedrooms | 90 | 134 | +48.9% |
Summary: The Upper Potomac housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 35.3%, 2 bedroom homes increased by 22.5%, 3 bedroom homes increased by 29.7%, 4 bedroom homes increased by 56.7%, and 5+ bedroom homes increased by 48.9%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 153 | 186 | +21.6% |
Asking Price vs. Sold Price
34 Homes Were Sold
Under Asking
30 Homes Were Sold
At Asking
122 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Upper Potomac, you could pay more than the asking price. 65.6% of homes here sold above asking price last month.
Summary: A total of 186 homes were sold or pending in Upper Potomac in April 2024, up by 21.6% month-over-month. Of the 186 sold homes, 18% were sold under asking, 16% were sold at asking, and 66% 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
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 12 Days | 8 Days | -31.1% |
Summary: Homes in Upper Potomac had an average of 8 days on market in Apr 2024, down by 31.1% compared to last year.
Breakdown of Home Sale Times
175 Homes Were Sold
Under 30 Days
10 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 April 2024, 186 homes were sold in Upper Potomac; 94% of homes were sold within 30 days, 5% of homes were sold within 30 to 90 days, and 1% of homes were sold over 90 days.
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