Potomac Marketing Report December 2016

Focus On: Potomac Housing Market

December 2016

Zip Code(s): 20854

Units Sold

Active Inventory Median Sale Price

Days On Market

47

166

$950,000

66

1,100,000

350

120

110

300

1,000,000

100

90

80

250

900,000

70

60

200

800,000

50

40

150

700,000

30

20

100

600,000

10

D-14 A-15 A-15 D-15 A-16 A-16 D-16

D-14 A-15 A-15 D-15 A-16 A-16 D-16

D-14 A-15 A-15 D-15 A-16 A-16 D-16

D-14 A-15 A-15 D-15 A-16 A-16 D-16

Down -6%

Down -15%

Down -9%

Down -31%

Vs. Year Ago

Vs. Year Ago

Vs. Year Ago

Vs. Year Ago

Units Sold*

Sold Detached

Sold Attached

Sold Condo/ Coop

Units Sold

90

80

There was an increase in total units sold in December, with 47 sold this month in Potomac versus 40 last month, an increase of 18%. This month's total units sold was lower than at this time last year, a decrease of 6% versus December 2015.

70

60

50

40

30

20

10

Active Inventory*

0

Active Detached

Active Attached

Active Condo/ Coop

350

300

250

200

Active Inventory

150

Versus last year, the total number of homes available this month is lower by 29 units or 15%. The total number of active inventory this December was 166 compared to 195 in December 2015. This month's total of 166 is lower than the previous month's total supply of available inventory of 206, a decrease of 19%.

100

50

0

Median Sale Price

Median Sale Price

1,200,000

Last December, the median sale price for Potomac Homes was $1,040,000. This December, the median sale price was $950,000, a decrease of 9% or $90,000 compared to last year. The current median sold price is 14% higher than in November.

1,000,000

Dec-15 $1,040,00 0

Dec-16 $950,000

800,000

600,000

400,000

200,000

Median sale price is the middle sale price in a given month. The same number of properties are above & below the median.

0

Potomac are defined as properties listed in zip code/s 20854.

Information included in this report is based on data supplied by MRIS and its member Association(s) of REALTORS, who are not responsible for its accuracy. Does not reflect all activity in the marketplace. Information contained in this report is deemed reliable but not guaranteed, should be independently verified, and does not constitute an opinion of MRIS or Long & Foster Real Estate, Inc. *Detached, Attached, and Condo varies by local area Multiple Listing Service (MLS) definition. For more information regarding your specific market, contact one of Long & Foster’s knowledgeable and experienced sales associates.

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