Potomac MD Enjoying a Successful Summer Home Buying Market

home buying 20It’s a great time to be a home buyer on the Potomac real estate market!

After all, according to the most recent data, the average price per square foot for homes here has decreased –as has the median sales price. The average listing price has also shown a decrease from last week.

All of this suggests that those interested in investing in property here have a great chance of getting a good price for the property.

Continue reading for a closer look at market activity in Potomac and how it may impact you!

An Overview of the Potomac Housing Market

Here are the highlights of the most recent report from the Potomac real estate market:

  • Currently there are 265 homes for sale on the market, including 9 in some stage of the foreclosre process.
  • Between March and June, the average price per square foot for Potomac homes was $317, down 9.7 percent from the same period last year.
  • Meanwhile, the median sales price for homes was $882,500 based on 30 home sales.
  • Compared to last year, the median home sales price decreased 0.6 percent, or $5,375.
    And the number of home sales decreased 66.7 percent.
  • During the week ending on June 3, the average listing price for Potomac homes was $1,850,527, down 0.4 percent from the week before.
  • During that preivous week, the average lisitng price was closer to $1,859,000.
  • Broken down further, the average listing price for a 3-bedroom Potomac home was$912,470
  • And the average listing price for a 4-bedroom home was $1,167,633.

We’re Here to Help You Purchase Your Next Potomac Home!

We hope you found the above information insightful as a prospective home buyer. We certainly believe that recent activity suggests that it’s a great time to invest in a Potomac home!

For more insight on the current state of the market and how it may impact you, we invite you to contact us at the Rozansky Group. We would love to assist you by answering all of your questions and telling you about available listings.

Until next time,

Brad

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