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Monday, November 25, 2024

Potomac home prices rise in August 2018

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The median sale price of a home sold in August 2018 in Potomac rose by $20,000 while total sales increased by 105.3%, according to BlockShopper.com.

In August 2018, there were 78 homes sold, with a median sale price of $980,500 - a 2.1% increase over the $960,500 median sale price for the same period of the previous year. There were 38 homes sold in Potomac in August 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 August 2018.

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

CityAug. 2018 Home SalesAug. 2017 Home Sales% change (Total Home Sales)Aug. 2018 Median Sales PriceAug. 2017 Median Sales Price% change (Median Sales Price)
Chevy Chase312240.9%$1,260,000$1,218,5003.4%
Travilah221546.7%$1,154,500$1,066,9008.2%
Cabin John41300%$1,145,000$1,665,000-31.2%
Bethesda84840%$1,015,566.50$987,5002.8%
Potomac7838105.3%$980,500$960,5002.1%
Darnestown770%$930,000$822,50013.1%
Brookeville50-$759,000$0-
North Potomac289211.1%$754,000$585,00028.9%
South Kensington221457.1%$747,495$696,2007.4%
Garrett Park36-50%$725,000$617,50017.4%
Ashton-Sandy Spring11757.1%$710,000$650,0009.2%

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