NORTH POTOMAC HOUSING MARKET DATA

There was a decrease in total units sold in February, with 23 sold this month in North Potomac Real Estate versus 33 last month, a decrease of 30%. This month's total units sold was lower than at this time last year, a decrease of 32% versus February 2024.

Versus last year, the total number of homes available this month is lower by 1 units or 1%. The total number of active inventory this February was 71 compared to 72 in February 2024. This month's total of 71 is higher than the previous month's total supply of available inventory of 49, an increase of 45%.

Last February, the median sale price for North Potomac Homes was $647,000. This February, the median sale price was $739,000, an increase of 14% or $92,000 compared to last year. The current median sold price is 13% higher than in January.

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

In February, there was 3.1 months of supply available in North Potomac, compared to 2.1 in February 2024. That is an increase of 46% 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.

This month there were 56 homes newly listed for sale in North Potomac compared to 77 in February 2024, a decrease of 27%. There were 30 current contracts pending sale this February compared to 48 a year ago. The number of current contracts is 38% lower than last February.

In February, the average sale price in North Potomac was 103.5% of the average list price, which is 2.5% higher than at this time last year.

This month, the average number of days on market was 17, lower than the average last year, which was 23, a decrease of 26%.





FOCUS ON: NORTH POTOMAC HOUSING MARKET			FEBRUARY 2025

Zip Code(s): 20878
Units Sold 23	Active Inventory 71	Median Sale Price $739,000	Days On Market 17

Down -32% Vs. Year Ago	Down -1% Vs. Year Ago	Up 14% Vs. Year Ago	Down -26% Vs. Year Ago


		Units Sold There was a decrease in total units sold in February, with 23 sold this month in North Potomac Real Estate versus 33 last month, a decrease of 30%. This month's total units sold was lower than at this time last year, a decrease of 32% versus February 2024.
Active Inventory Versus last year, the total number of homes available this month is lower by 1 units or 1%. The total number of active inventory this February was 71 compared to 72 in February 2024. This month's total of 71 is higher than the previous month's total supply of available inventory of 49, an increase of 45%.
		Median Sale Price Last February, the median sale price for North Potomac Homes was $647,000. This February, the median sale price was $739,000, an increase of 14% or $92,000 compared to last year. The current median sold price is 13% higher than in January. Median sale price is the middle sale price in a given month. The same number of properties are above & below the median.



New Listings 56	Current Contracts 30	Sold Vs. List Price 103.5%	Months of Supply 3.1

Down -27% Vs. Year Ago	Down -38% Vs. Year Ago	Up 2.5% Vs. Year Ago	Up 46% Vs. Year Ago


		Months of Supply In February, there was 3.1 months of supply available in North Potomac, compared to 2.1 in February 2024. That is an increase of 46% 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 56 homes newly listed for sale in North Potomac compared to 77 in February 2024, a decrease of 27%. There were 30 current contracts pending sale this February compared to 48 a year ago. The number of current contracts is 38% lower than last February.
		Sale Price to List Price Ratio In February, the average sale price in North Potomac was 103.5% 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 17, lower than the average last year, which was 23, a decrease of 26%.


	North Potomac are defined as properties listed in zip code/s 20878.
	*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.
	Information 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.