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Sunday, November 17, 2024

Potomac home prices fall in October 2018

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The median sale price of a home sold in October 2018 in Potomac fell by $56,000 while total sales increased by 43.3%, according to BlockShopper.com.

In October 2018, there were 43 homes sold, with a median sale price of $810,000 - a 6.5% decrease over the $866,000 median sale price for the same period of the previous year. There were 30 homes sold in Potomac in October 2017.

The median sales tax in Potomac for the most recent year with available data, 2016, was $9,559, approximately 1.2% of the median home sale price for October 2018.

The following table compares Potomac to other Montgomery County cities with similar median sales prices in October 2018:

CityOct. 2018 Home SalesOct. 2017 Home Sales% change (Total Home Sales)Oct. 2018 Median Sales PriceOct. 2017 Median Sales Price% change (Median Sales Price)
Travilah10100%$1,217,500$1,045,00016.5%
Cabin John110%$1,070,000$970,00010.3%
Chevy Chase17170%$949,000$1,000,000-5.1%
Bethesda615217.3%$937,000$907,5003.3%
Potomac433043.3%$810,000$866,000-6.5%
Darnestown5425%$794,000$594,50033.6%
Dickerson110%$729,000$260,000180.4%
South Kensington151136.4%$655,000$750,000-12.7%
North Potomac1115-26.7%$646,000$749,000-13.8%
North Bethesda20200%$626,625$650,000-3.6%
Laytonsville6450%$621,250$307,500102%

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