Is Potomac, WV 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 has remained a Seller's Market.
Key Takeaway
Potomac is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Potomac, WV
How much do homes in Potomac, WV cost?
Median Sold Price
$289,000
$158/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Potomac have sold for 3.2% more than they did a year ago.
Summary: The median home sold price in Potomac was $289,000 in April 2024, up 3.2% from last year, and the median price per square foot was $158.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $150K | N/A |
| 2 Bedrooms | $254.4K | $288.5K | +13.4% |
| 3 Bedrooms | $265K | $272K | +2.7% |
| 4 Bedrooms | $375.5K | $360K | -4.1% |
| 5+ Bedrooms | $418.7K | $517.4K | +23.6% |
Summary: 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 13.4%, 3 bedroom homes increased by 2.7%, 4 bedroom homes decreased by 4.1%, and 5+ bedroom homes increased by 23.6%.
Median Sold Price Compared To Nearby Cities
| Martinsburg | $255K | $285K | +11.8% |
| Tuscarora | $274.5K | $306.6K | +11.7% |
| Falling Waters | $285.5K | $299.9K | +5.0% |
| Potomac | $280K | $289K | +3.2% |
| Norborne | $325K | $335K | +3.1% |
Housing Supply in Potomac, WV
How many homes are available in Potomac, WV?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 94 | 114 | +21.3% |
Summary: The Potomac real estate market had 114 homes for sale in April 2024, a 21.3% 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 | 8 | 6 | -25.0% |
| 3 Bedrooms | 57 | 64 | +12.3% |
| 4 Bedrooms | 26 | 36 | +38.5% |
| 5+ Bedrooms | 3 | 8 | +166.7% |
Summary: The 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 25%, 3 bedroom homes increased by 12.3%, 4 bedroom homes increased by 38.5%, and 5+ bedroom homes increased by 166.7%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 33 | 26 | -21.2% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
14 Homes Were Sold
At Asking
6 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Potomac, expect to pay close to the asking price. 53.8% of homes here sold near the asking price last month.
Summary: A total of 26 homes were sold or pending in Potomac in April 2024, down by 21.2% month-over-month. Of the 26 sold homes, 23% were sold under asking, 54% were sold at asking, and 23% were sold over asking.
Days on Market for Potomac, WV
How long does it take to sell a home in Potomac, WV?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 37 Days | 23 Days | -38.2% |
Summary: Homes in Potomac had an average of 23 days on market in Apr 2024, down by 38.2% compared to last year.
Breakdown of Home Sale Times
21 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Potomac are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 26 homes were sold in Potomac; 81% of homes were sold within 30 days, 12% of homes were sold within 30 to 90 days, and 8% of homes were sold over 90 days.
