Potomac MD Homes For Sale Market Update – December 2011

Last week, I wrote a bit about real estate activity in Bethesda, and now I want to take a bit of time and write about another local community, Potomac MD homes for sale, and maybe at the same time, learn something about Avenel MD homes as well.  The first statistic we will look at today is the median asking price of homes for sale in the entire Potomac community.  Sadly, for home owners at least, the trend over the past two years doesn’t really appear to be very favorable.  In late 2009, the median asking price for these homes was $1,500,000 compared to our most recent measurement $1,350,000, a loss of $150,000, which turns out to be an even 10% loss in just two years.  If you are looking for a bit of good news, the last few weeks have seen a bit of a rebound, in which the median asking price has gained $10,000.  However, before you get too excited, remember that we are heading into winter and it would not be surprising at all to see another decline in values as we head into another new year.

Potomac Md homes for sale asking prices

One other data point to follow in any given market is the overall number of units for sale.  For Potomac MD, I graphed two years worth of numbers.  Interestingly, today’s numbers are very close to where they were in December 2009.  Normally with dropping prices, as we saw above, we expect to see very high inventory levels, with the theory being that with tons of competition, sellers can’t stick on their prices any more and come of their asking price trying to find one of the few available buyers.  This may be something to keep an eye on, as the inventory levels have been dropping from 280 earlier this year to 80 units this past week, the asking prices have just started ticking up.  Coincidence?  Or not?

Potomac Md homes for sale inventory

About Rich Jones