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Friday, November 15, 2024

Potomac home prices rise in the first quarter of 2019

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The median sale price of a home sold in the first quarter of 2019 in Potomac rose by $5,000 while total sales increased by 3.7%, according to BlockShopper.com.

From January through March of 2019, there were 111 homes sold, with a median sale price of $875,000 - a 0.6% increase over the $870,000 median sale price for the same period of the previous year. There were 107 homes sold in Potomac in the first quarter of 2018.

The median sales tax in Potomac for the most recent year with available data, 2016, was $9,559, approximately 1.1% of the median home sale price for the first quarter of 2019.

The following table compares Potomac to other Montgomery County cities with similar median sales prices in the first quarter of 2019:

CityJan. - Mar. 2019 Home SalesJan. - Mar. 2018 Home Sales% change (Total Home Sales)Jan. - Mar. 2019 Median Sales PriceJan. - Mar. 2018 Median Sales Price% change (Median Sales Price)
Travilah2127-22.2%$1,255,000$938,00033.8%
Chevy Chase453050%$1,190,000$977,50021.7%
Cabin John28-75%$1,021,750$815,00025.4%
Bethesda137166-17.5%$980,000$954,0002.7%
Brookeville16-83.3%$875,000$795,00010.1%
Potomac1111073.7%$875,000$870,0000.6%
South Kensington2331-25.8%$727,500$635,00014.6%
Darnestown1220-40%$723,750$668,0008.3%
North Bethesda5368-22.1%$711,000$657,5008.1%
North Potomac2329-20.7%$670,000$654,0002.4%
Garrett Park990%$665,000$630,0005.6%

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