The Long & Foster Market Minute

Focus On: Potomac Falls Housing Market March 2021

Zip Code(s): 20165
Units Sold
39
Active Inventory
13
Median Sale Price
$530,000
Days On Market
15
Up 8%
Vs. Year Ago
Down -52%
Vs. Year Ago
Up 12%
Vs. Year Ago
Up 7%
Vs. Year Ago

Units Sold
There was an increase in total units sold in March, with 39 sold this month in Potomac Falls Real Estate versus 30 last month, an increase of 30%. This month's total units sold was higher than at this time last year, an increase of 8% versus March 2020.

Active Inventory
Versus last year, the total number of homes available this month is lower by 14 units or 52%. The total number of active inventory this March was 13 compared to 27 in March 2020. This month's total of 13 is higher than the previous month's total supply of available inventory of 8, an increase of 63%.

Median Sale Price
Last March, the median sale price for Potomac Falls Homes was $475,000. This March, the median sale price was $530,000, an increase of 12% or $55,000 compared to last year. The current median sold price is 5% lower than in February.

Median sale price is the middle sale price in a given month. The same number of properties are above & below the median.


New Listings
62
Current Contracts
56
Sold Vs. List Price
101.9%
Months of Supply
0.3
Up 19%
Vs. Year Ago
Up 17%
Vs. Year Ago
Up 2.5%
Vs. Year Ago
Down -56%
Vs. Year Ago

Months of Supply
In March, there was 0.3 months of supply available in Potomac Falls, compared to 0.8 in March 2020. That is a decrease of 56% versus a year ago.

Months of supply is calculated by dividing current inventory by current sales. It indicates how many months would be needed to sell all of the inventory available at the current rate of demand.

New Listings & Current Contracts
This month there were 62 homes newly listed for sale in Potomac Falls compared to 52 in March 2020, an increase of 19%. There were 56 current contracts pending sale this March compared to 48 a year ago. The number of current contracts is 17% higher than last March.

Sale Price to List Price Ratio
In March, the average sale price in Potomac Falls was 101.9% of the average list price, which is 2.5% higher than at this time last year.

Days on Market
This month, the average number of days on market was 15, higher than the average last year, which was 14, an increase of 7%.

The Long & Foster Market Minute Potomac Falls are defined as properties listed in zip code/s 20165.
*Detached, Attached, and Condo varies by local area Multiple Listing Service (MLS) definition. For more information regarding your specific market, contact one of Long & Foster's knowledgeable and experienced sales associates.
REALTOR, Equal Opportunity HousingInformation included in this report is based on data supplied by BRIGHTMLS and its member Association(s) of REALTORS, who are not responsible for its accuracy. Does not reflect all activity in the marketplace. Information contained in this report is deemed reliable but not guaranteed, should be independently verified, and does not constitute an opinion of BRIGHTMLS or Long & Foster Real Estate, Inc.