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

Thu May 16 2024
This week the median list price for Potomac, MD is $2,998,000 with the market action index hovering around 49. This is an increase over last month's market action index of 43. Inventory has decreased to 39. 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

In the last few weeks, the Market Action Index has resumed a climb. Despite the fact that we’re in a Seller’s market, prices have not yet resumed upward momentum. However, it is likely that given these conditions, prices will at least level off very soon. If the increasing trend continues, expect that prices could shift higher quickly.

Potomac, MD

Thu May 16 2024
This week the median list price for Potomac, MD is $2,998,000 with the market action index hovering around 49. This is an increase over last month's market action index of 43. Inventory has decreased to 39. 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

In the last few weeks, the Market Action Index has resumed a climb. Despite the fact that we’re in a Seller’s market, prices have not yet resumed upward momentum. However, it is likely that given these conditions, prices will at least level off very soon. If the increasing trend continues, expect that prices could shift higher quickly.

Real-Time Market Profile

Never miss important changes in the Potomac market.
Median List Price $2,998,000
Median Price of New Listings $1,650,000
Per Square Foot $347
Average Days on Market 129
Median Days on Market 56
Price Decreased 33%
Price Increased 3%
Relisted 10%
Inventory 39
Median Rent
Market Action 49
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
$4,995,000 14,222 1 - 2.5 acres 7 9.5 23 1 0 77
$3,752,060 10,950 1 - 2.5 acres 6 8 29 0 1 84
$2,677,500 8,440 1 - 2.5 acres 6 6 35 0 2 52
$1,674,000 4,324 1 - 2.5 acres 5 4.5 45 2 3 31