Potomac MD Housing Market Shows Gains in March

Home Selling 8The last few weeks in Potomac have really seemed to favor local home sellers, at least according to the latest market data.

Evidently, the median home sales price increased as did the average price per square foot.

If you’re considering listing your property anytime soon on the market, continue reading to learn more about the current state of the market and how it impacts you.

The Highlights of Recent Potomac Market Activity

Here’s an overview of the current state of the local housing market here in Potomac:

  • Currently there are 214 homes for sale on the market, including 12 that are in some stage of the foreclosure process.
  • Between December and March, the average price per square foot for homes here was $333, up 6.1 percent from the same period last year.
  • Meanwhile, the median sales price for homes was $884,444 based on 42 home sales.
  • Compared to the same period last year, the median home sales price has decrease 6.9 percent, or $65,556.
  • And the number of home sales decreased 33.3 percent.
  • How other communities compared in terms of median sales price
    • Bethesda: $750,000
    • Chevy Chase: $922,500
    • Rockville: $430,000
    • Washington DC: $471,000
    • Kensington: $445,000
  • During the week ending on March 4, the average listing price for homes for sale in Potomac was $2,353,787, down 0.2 percent from the week before.
  • During that previous week, the average listing price was $2,350,000.
  • Specifically, the average listing price for a 3-bedroom Potomac home was $952,429
  • And the average listing price for a 4-bedroom home was $1,344,291
  • How other communities compared when it came to average listing price
    • Bethesda: $1,717,483
    • Chevy Chase: $1,612,888
    • Rockville: $550,596
    • Washington DC: $907,886
    • Kensington: $760,227

We’ll Help You Get the Price You Want for Your Potomac Home!

Are you ready to list your home on the Potomac real estate market? If so, then please take a moment to contact us at the Rozansky Group.

We would love to assist you by first helping you determine the true value of your home for sale!

Until next time,

Brad

Leave a Reply

Your email address will not be published. Required fields are marked *