POTOMAC, MARYLAND REAL ESTATE TREND INDICATOR

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Education & Training with Retired Real Estate Broker, Maryland Blogger

POTOMAC, MARYLAND REAL ESTATE TREND INDICATOR    

If you are thinking about buying or selling a home in zip code 20854, you should take a close look at the following report that compares the statistics for November with the same month last year. There were 31 new listings in the area and 20 listings went to new pending contracts. There were 21 actual settlements as compared to 27 homes sold last year. The total sold dollar volume was down 29.03%. The average number of days on the market was up to 85 from 83 days last year.  The average sale price was 93.47% of the average list price.  The average sold price was $905,095 down 8.75% from last year. What does this mean?  It is still a soft market which favors buyers.  Buyers have the largest selection and the lowest prices that have been available for several years.  

Roy Kelley, Associate Broker, RE/MAX Realty Group

Home Search Website:  www.roykelley.com

Email:  roykelley@mris.com;  Client Assistance:  301-670-8996

ZIP Code: 20854 Potomac, MD
From: 11/01/2008 to 11/30/2008                Statistics generated on: 12/08/2008

  Residential
Unit Sales
Number of Bedrooms
Active Listings   Time on Market
Price Class 2
Or Less  

3
4
 or More  
Condo
Coop
Ground
Rent
Residential
 
Condo
Coop
Ground
Rent
of Units Sold
(No. of Units)
Under $100,000 0 0 0 0 0 0 0 0 1 -30 Days 10
$100,000 - 149,999 0 0 0 0 0 0 0 0 31-60 Days 1
$150,000 - 199,999 0 0 0 0 0 0 0 0 61 - 90 Days 4
$200,000 - 249,999 0 0 0 0 0 0 0 0 91-120 Days 1
$250,000 - 299,999 0 0 0 0 0 0 0 0 Over 120 Days 5
$300,000 - 349,999 0 0 0 0 0 0 0 0 Total 21
$350,000 - 399,999 0 1 1 0 0 1 0 0  
$400,000 - 449,999 0 1 0 0 0 1 0 0 Type of Financing
of Units Sold
(No. of Units)
$450,000 - 499,999 0 1 0 0 0 2 1 0
$500,000 - 599,999 0 0 1 0 0 14 0 0 Conventional 15
$600,000 - 699,999 0 1 2 0 0 20 0 0 FHA 4
$700,000 - 799,999 0 0 2 0 0 24 1 0 VA 0
$800,000 - 899,999 0 0 3 0 0 11 0 0 Assumption 1
$900,000 - 999,999 0 0 0 0 0 10 1 0 Cash 1
$1,000,000 - 2,499,999 0 0 8 0 0 116 2 0 Owner Finance 0
$2,500,000 - 4,999,999 0 0 0 0 0 30 0 0 All Other 0
$5,000,000 & Over 0 0 0 0 0 10 0 0 Unreported 0
Totals 0 4 17 0 0 239 5 0 Total 21
Grand Totals 21 244    
    2008   2007   % Change
Total Sold Dollar Volume: $ 19,007,000 $ 26,780,034 - 29.03 %
Average Sold Price: $ 905,095 $ 991,853 - 8.75 %
Median Sold Price: $ 810,000 $ 790,000 2.53 %
Total Units Sold: 21 27 - 22.22 %
Average Days on Market: 85 83 2.41 %
Average List Price for Solds: $ 968,371 $ 1,074,896 - 9.91 %
Avg Sale Price as a
percentage of Avg List Price:
93.47 % 92.27 %  
Total NEW listings: 31
Total Properties Marked Contract: 9
Total Properties Marked Contingent Contract: 11
Total NEW pendings (Contracts + Contingents): 20

Source: Metropolitan Regional Information Systems, Inc. - MLS Resale Data
Copyright 2008 - Information deemed reliable, but is not guaranteed.

Please contact us with your questions on the residential real estate market.

Posted by

Roy and Dolores Kelley Photographs

Roy Kelley, a real estate broker since 1960, has retired from his position as Associate Broker with RE/MAX Realty Group in Gaithersburg, Maryland. The needs of past clients and referrals will be met by long time associates. 



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