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Maryland State Wire

Sunday, November 24, 2024

Potomac home prices fall in April 2018

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The median sale price of a home sold in April 2018 in Potomac fell by $126,500 while total sales increased by 7.9%, according to BlockShopper.com.

In April 2018, there were 41 homes sold, with a median sale price of $850,000 - a 13% decrease over the $976,500 median sale price for the same period of the previous year. There were 38 homes sold in Potomac in April 2017.

The median sales tax in Potomac for the most recent year with available data, 2016, was $9,559, approximately 1.1% of the median home sale price for April 2018.

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

CityApr. 2018 Home SalesApr. 2017 Home Sales% change (Total Home Sales)Apr. 2018 Median Sales PriceApr. 2017 Median Sales Price% change (Median Sales Price)
Chevy Chase191172.7%$1,200,000$1,035,00015.9%
Bethesda706311.1%$1,152,500$952,00021.1%
Cabin John440%$1,045,500$857,00022%
Travilah1113-15.4%$850,000$1,200,000-29.2%
Potomac41387.9%$850,000$976,500-13%
Darnestown89-11.1%$814,000$800,0001.8%
Brookeville12-50%$790,000$367,500115%
Garrett Park330%$790,000$650,00021.5%
North Potomac1219-36.8%$750,500$653,88814.8%
South Kensington111010%$735,000$782,500-6.1%
North Bethesda2627-3.7%$714,500$765,000-6.6%

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