HOMESbyRP of eXp Realty / Richard Pearrell

Potomac, MD

Single-Family Homes

https://HOMESbyRP.com GRI, Associate Broker DC, MD, VA & REALTOR® in FL at eXp Realty, LLC / (301) 991-7061 /


Potomac, MD

Wed Oct 09 2024
This week the median list price for Potomac, MD is $1,999,000 with the market action index hovering around 46. This is about the same as last month's market action index of 46. Inventory has increased to 58. Click here to stay informed with the Potomac market!

Market Action Index

This answers “How’s the Market?” by comparing rate of sales versus inventory.

Strong Seller's Market

Market Narrative

In the last few weeks, the market has been at a stasis point in terms of sales to inventory. However, prices seem to continue to fall a bit. Technically supply levels indicate this is a Seller’s market so it is likely that the downward pricing pressure will be light or variable. Watch for an up-shift in the MAI before price stability is achieved.

Potomac, MD

Wed Oct 09 2024
This week the median list price for Potomac, MD is $1,999,000 with the market action index hovering around 46. This is about the same as last month's market action index of 46. Inventory has increased to 58. Click here to stay informed with the Potomac market!

Market Action Index

This answers “How’s the Market?” by comparing rate of sales versus inventory.

Strong Seller's Market

Market Narrative

In the last few weeks, the market has been at a stasis point in terms of sales to inventory. However, prices seem to continue to fall a bit. Technically supply levels indicate this is a Seller’s market so it is likely that the downward pricing pressure will be light or variable. Watch for an up-shift in the MAI before price stability is achieved.

Real-Time Market Profile

Never miss important changes in the Potomac market.
Median List Price $1,999,000
Median Price of New Listings $1,395,000
Per Square Foot $360
Average Days on Market 106
Median Days on Market 60
Price Decreased 31%
Price Increased 0%
Relisted 9%
Inventory 58
Median Rent
Market Action 46
Strong Seller's Market

Again this week we see a downward notch for prices. Pricing has been weak in recent weeks and versus their absolute-high levels. The Market Action Index is a good leading indicator for the durability of this trend.

Market Segments

Each segment below represents approximately 25% of the market ordered by price.

Median Price Sq. Ft. Lot Size Beds Bath Age New Absorbed DOM
$4,449,000 13,626 1 - 2.5 acres 7 9 22 1 3 150
$2,822,500 8,950 1 - 2.5 acres 6 6 36 1 1 45
$1,799,900 7,155 1 - 2.5 acres 6 4.5 43 2 3 98
$1,050,000 2,550 0.25 - 0.5 acre 4 3 52 5 6 21