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2013 Year in Review: Potomac Station

Potomac Station sign

Instant replay, that would be the description of the 2013 real estate market in Potomac Station. For the second year in a row 89 homes sold in this Leesburg neighborhood, let’s take a closer look…

Most single family homes in Potomac Station have 4 bedrooms, 3.5 baths, and are on almost a quarter acre. Forty of those homes sold last year, slightly less than the forty-four in 2012. The good news for owners here was an increase of 8.5% in average price to $545,457, all while spending seven less days on the market (22 vs 29). Both of those statistical measurements outperformed county averages (those are in the LoCo Look Back), and were well above the rest of the 20175 zip code (Leesburg Look Back). Part of the reason for that jump was a significant drop in the number of short sales and foreclosures (down to 3 from 11 in 2012). However, even after removing those types of transactions from consideration the average price rose almost 6%.

Forty-nine townhomes changed hands last year, up a bit from forty-five the previous year. Typically offering 3 bedrooms and 2.5 baths, those townhomes sold for an average of $361,989. That’s a 7% jump compared to 2012 ($336,333), although it did take one more day to realize that gain (27 vs 26). Once again there was a considerable drop in distress sales from 9 to 4, but even discounting those the increase was still almost 7%.

So what does this mean for Potomac Station’s home owners? You have one of the more seller friendly neighborhoods in Leesburg, with a greater climb in value than most of your neighbors and shorter time on the market to capture it. Buyers here should be ready to act quickly, and we would expect a similar increase in prices this spring once the market gets going.

Live in Potomac Station (or anywhere in LoCo) and wonder what your home is worth? Click here and we will shoot you an email with an up to date home value report. Thinking about buying? We’ve got you covered there too, sign up here to get email updates on all the listings in your target area.


Have a real estate question or need any information on all things LoCo, just ask!

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About our blog

Michael and Heather Elias are full time real estate professionals and licensed REALTORS at Century 21 Redwood Realty. They sincerely hope you enjoy reading this blog, and would love the opportunity to work with you.

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