Potomac MD homes for sale see asking prices continue to slide

According to the most recent numbers obtained, Potomac MD homes for sale continue to see their asking prices drop.  Although we are not at low records for the past two years, we are within just tens of thousands of dollars, and it is quite likely that we will cross that barrier in perhaps the next few weeks if recent trends continue.

Potomac MD homes for sale pricing graph

The graph above charts twenty four months worth of data for Potomac MD homes for sale, and shows both the weekly data points as well as a rolling trend line.  Two years ago, when this graph began, median asking prices for the area were right around 1.35 million dollars, and on their way up.  for the rest of 2009, prices were closer to one and a half million dollars before they began to slide dramatically in early to mid 2010.  At that point, prices hit $1,300,000 and then again, a low water mark very late in the year, down to almost $1,280,000, which we are only just about $10,000 higher than right now.

To make it look even worse, if you wanted some help in that department, is that the line in gold on the graph above is for a rolling trend line, that sometimes makes it a little easier to determine which direction we might be headed in the next week or two.  The trend line is decreasing pretty steadily and does not look to be bending up in the next few days, so my guess would be that we break through and see the lowest levels we have seen in the past two years for Potomac MD homes for sale.

Let’s take a look at one more graph that might help us understand why we are where we are concerning prices.  The graph below shows inventory levels for Potomac homes and it is quite striking.

Potomac MD homes for sale inventory graph

The most striking feature of this graph is just how quickly homes homes are coming on to the market.  In just the past two or three months, we have seen about 80 or 90 homes enter the market, which is a huge percentage, and there is simply no realistic way for home prices to stay level, or rise, in the face of such an onslaught of new inventory.  The number of home available Potomac MD homes for sale is simply too high, and there aren’t enough buyers, and as such, asking prices are falling as sellers fight each other to appeal to the few available buyers.

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