Continuing our look at the spring market, here is an update for the past three months in Potomac Station. One interesting note, every home sold since December 11, 2012 has been a standard sale. During this time period last year, six of the fifteen total sales were either foreclosures or short sales.
Townhome sales in Potomac Station have dipped dramatically compared to the same time frame last year, from 7 to 3. However, there is great news for sellers, the average sales price has increased almost 8% to $331,700. In addition, the three homes this year spent an average of 25 days on the market, 9 less than during this span last year. As of this morning, sixteen townhomes are actively listed, including four short sales, with ten already under contract. Eight single family home sales have been recorded in the community this year, matching the total from 2012. More good news for sellers in this market, the average sales price increased over 8% to $508,613 (that’s almost $40,ooo)!
So far this year, single family homes are going under contract after an average of 63 days, compared to 100 for this period last year. Currently, there are 10 homes listed for sale, including one foreclosure and 2 short sales. Seven homes are under contracts, and four of those spent less than a week on the market.
So what does all this mean for you? Overall, sellers in this neighborhood can expect faster sales for more more money than last year. Buyers need to be prepared to act fast. If a home you like comes on the market, don’t wait until the weekend to take a look as it may be gone by then. If you are considering making a move this spring, send us an email or call us at (571) 233-5495, we’d be happy to help.
Want to know what your Potomac Station home is worth? It’s simple, register for our home value report and it will quickly arrive in your inbox! (Live outside of Potomac Station, but still curious about home values? That’s fine, you can register, too.) If you are thinking about buying in Potomac Station, we can help with that as well; sign up here to receive all the new listings in this neighborhood.
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