Potomac MD Homes For Sale See Dropping Asking Prices

Potomac MD homes for sale have seen a bit of a price reduction lately, at least when we are looking at homes for sale.  The graph below show two years worth of data tracking homes for sale in Potomac, or zip code 20854.  We are not looking at condos in this graph, though we certainly have access to that information if you are interested, and will be writing articles about condos on a regular basis, so please check back often.

But today, I wanted to look at single family homes and how the economic realities have affected local home sellers and their ability to sell.  Two years ago, towards the beginning of 2009, asking prices of Potomac homes were around $1.5 million dollars.  As of our latest measurement, taken just last week, the median asking price had fallen a bit.

homes for sale in Potomac MD graph

The degree to which you think Potomac housing pricing is rising or falling may depend upon which line you study on the graph.  The gold line is a trend line, where we take 90 days worth of data and average all of that information into one data point, and then do that again every week.  This process gives us a smoother line and lets us know where the market is headed.  The black line is actually plotting data points every week, and is much more prone to wild fluctuations, with big drops and spikes.

So looking again at the chart, if we study only the trend line, we can get a more accurate picture.  Two years ago, the trend line measurement of the median asking price of Potomac MD homes for sale was right at $1.55 million dollars.  One year later, in February of 2010, that measurement had fallen about fifth thousand dollars to $1.50 million.  And now, in our current environment, we have fallen even further, another $150,000 or so, to a median asking price of $1.35 million.

If you would like any further information on homes in Potomac MD, or any DC area market, please don’t hesitate to contact us and we will be happy to assemble a personalized market report for you and your neighborhood.  In addition, if you want to see what a top notch marketing plan looks like for a home in this price range, please follow this link for Potomac MD home sellers.

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