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Thursday, December 26, 2024

Potomac home prices rise in the second half of 2018

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The median sale price of a home sold in the second half of 2018 in Potomac rose by $41,500 while total sales increased by 23.6%, according to BlockShopper.com.

From July through December of 2018, there were 309 homes sold, with a median sale price of $920,000 - a 4.7% increase over the $878,500 median sale price for the same period of the previous year. There were 250 homes sold in Potomac in the second half of 2017.

The median sales tax in Potomac for the most recent year with available data, 2016, was $9,559, approximately 1% of the median home sale price for the second half of 2018.

The following table compares Potomac to other Montgomery County cities with similar median sales prices in the second half of 2018:

CityJuly - Dec. 2018 Home SalesJuly - Dec. 2017 Home Sales% change (Total Home Sales)July - Dec. 2018 Median Sales PriceJuly - Dec. 2017 Median Sales Price% change (Median Sales Price)
Chevy Chase1191126.3%$1,139,000$1,146,750-0.7%
Cabin John10100%$1,105,000$1,087,5001.6%
Travilah72685.9%$1,102,500$1,083,4501.8%
Bethesda4344271.6%$989,750$960,0003.1%
Potomac30925023.6%$920,000$878,5004.7%
South Kensington846823.5%$757,495$697,5008.6%
Brookeville1011-9.1%$744,500$625,00019.1%
North Bethesda1481424.2%$730,000$694,0005.2%
Darnestown392934.5%$725,000$780,000-7.1%
North Potomac1017632.9%$685,000$662,5003.4%
Laytonsville1620-20%$646,000$637,4001.3%

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