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Potomac, MD 20854 Real Estate Market Statistics, Sept., 2012

By
Industry Observer with Retired

Potomac, MD 20854 Real Estate Market Statistics, Sept., 2012

 

Potomac, Maryland, located in Montgomery County, is one of the preferred communities for executives that are relocated to the metropolitan area if the District of Columbia. 

During September, 2012, the total sold dollar volume of residential properties in this zip code was $32,656,288 with 34 closed sales.  These statistics are from the database of MRIS, the regional multiple listing service and were compiled by RBI, RealEstate Business Intelligence for the use of real estate professionals and their clients.

The September median sold price in Potomac was $788,400, down 11.42% from the same month last year.  The average sold price was $960,479, down 1.95%. The average time on the market was 66 days and the average sold to original list price ratio was 94.41%.

The residential real estate market is very local by nature.  Please contact us for specific market conditions in neighborhoods that are of interest.

All prospective home buyers that plan to use mortgage financing should obtain a pre-approval letter from their mortgage lender an an initial step in the purchase process.  


Rose, Brookside Gardens IMG_5214

Photograph by Roy Kelley using a Canon PowerShot G11 camera.

Roy and Dolores Kelley Photographs

Posted by

Roy Kelley, Retired, Former Associate Broker, RE/MAX Realty Group

Gaithersburg, Maryland  

Show All Comments
Shannon Milligan, Richmond VA Real Estate Agent/Associate Broker
RVA Home Team - Richmond, VA
RVA Home Team - Winning with Integrity.

Great market statistics on the Potomac MD real estate market and your last tip is so important: get pre-qualified before looking! Nothing more disappointing than looking at something you can't have!

Oct 23, 2012 02:06 AM
Belinda Spillman
Aspen Lane Real Estate Colorful Colorado - Aurora, CO
Colorado Living!

Potomac Maryland sounds like a great place to call home.  Don't start shopping without a pre-approval letter.

Oct 23, 2012 02:15 AM
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

Roy,

These are encouraging stats in Potomac Maryland.  You are so right about real estate being a local knowledge activity.  The ones like yourself who work in day in and day out are the real experts.  We wish you a great day, and I love your rose photo.

Oct 23, 2012 02:28 AM
Roy Kelley
Retired - Gaithersburg, MD

Thank you very much for your observations.  Potomac is a very nice community and a preferred location for many home buyers in suburban Maryland.

Rose, Brookside Gardens IMG_5215

Photograph by Roy Kelley using a Canon PowerShot G11 camera.

Roy and Dolores Kelley Photographs

Oct 23, 2012 02:48 AM
Rebecca Gaujot, Realtor®
Lewisburg, WV
Lewisburg WV, the go to agent for all real estate

Hi Roy, we have friends that lived in Potomac MD for over 20 years and finally moved to the Eastern Shore.  Potomac is a great place to live.

Oct 23, 2012 03:29 AM
Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

Hello Roy,  I have relatives in your area and Potomac,  They all complain to me how expensive it is back there.  Have a great day.

Oct 23, 2012 03:36 AM
Beth and Richard Witt
New York, NY
The best Retired Brokers !!!!

Great Post Roy... I totally agree with you when you say that real estate is a local nature... Love the photo...

Happy Day!  Can't wait to see you tomorrow...

Oct 23, 2012 04:48 AM
Roy Kelley
Retired - Gaithersburg, MD

Thanks for your comments on this local market report.

Yes, Will, it is expensive to live in this area.  That is the reason that many retirees opt to move to areas with less expensive homes and lower real estate taxes.  We pay the price for a very high quality environment and great convenience to many areas.


Rose, Brookside Gardens IMG_5216

Photograph by Roy Kelley using a Canon PowerShot G11 camera.

Roy and Dolores Kelley Photographs

Oct 23, 2012 07:09 AM
Tracy Oliva
West USA Realty - Arizona - Fountain Hills, AZ
The Oliva Team Arizona Agents

Roy,  Great stats and good news for all in your area,  keep up the good work and good luck with your business,E

Oct 23, 2012 09:09 PM
Lisa Von Domek
Lisa Von Domek Team - Dallas, TX
....Experience Isn't Expensive.... It's Priceless!

Good morning Roy,

Interesting statistics for Potomac!

Oct 23, 2012 09:23 PM
Debbie Reynolds, C21 Platinum Properties
Platinum Properties- (931)771-9070 - Clarksville, TN
The Dedicated Clarksville TN Realtor-(931)320-6730

Roy, Homes are selling and that is good news. The numbers although they have dipped in price could mean that the time to buy is now.

Oct 23, 2012 10:19 PM
Michelle Gibson
Hansen Real Estate Group Inc. - Wellington, FL
REALTOR

Roy - I know a lot of areas have seen a decrease in price since last year, but an increase in the amount of home sales.

Oct 23, 2012 10:21 PM
Al Raymondi
Ocean View Realty Group in Ormond By The Sea Florida - Ormond Beach, FL
Ormond By The Sea Florida - Home and Condo Sales

Nice local market report Roy, the lower values and interest rates will attract many buyers.

Oct 23, 2012 10:27 PM
Scott Godzyk
Godzyk Real Estate Services - Manchester, NH
One of the Manchester NH's area Leading Agents

Good Morning Roy, Very nice post on Potomac, it is filled with info for buyers looking at your area.  Have a great day

Oct 23, 2012 10:31 PM
Roy Kelley
Retired - Gaithersburg, MD

Your comments are always appreciated.  Montgomery County is a favorite location for families that are relocated to the District of Columbia metro area.  

Enjoy the colors of autumn with your camera in hand.

Rose, Brookside Gardens IMG_5221

Photograph by Roy Kelley using a Canon PowerShot G11 camera.

Roy and Dolores Kelley Photographs

 

Oct 23, 2012 10:50 PM
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