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Potomac, Maryland Real Estate Market Update – October 2024
Presented by Adrian Small, REALTOR® with TTR Sotheby’s International Realty

Hello and welcome! I’m Adrian Small, a REALTOR® with TTR Sotheby’s International Realty, here to provide you with the latest real estate market update for Potomac, Maryland in October 2024. Let’s explore the current trends and what they mean for buyers and sellers in this dynamic market.

Market Highlights for October 2024
1. Months Supply of Inventory
Potomac currently has a 2-month supply of inventory, reflecting a balanced yet competitive market. Over the past 12 months, the Months Supply of Inventory has risen by 5.26%, signaling a gradual shift that could offer opportunities for both buyers and sellers.

2. List-to-Sold Price Ratio
The List-to-Sold Price Percentage is an impressive 100.7%, meaning that sellers are, on average, receiving slightly more than their asking price. This is excellent news for those looking to sell their homes, showcasing the robust demand for properties in Potomac.

3. Median Days on Market
Homes in Potomac are moving quickly, with a median of just 10 days on market. For buyers, this highlights the importance of being well-prepared and ready to act fast in this highly competitive environment.

4. Median Sold Price
The median sold price in Potomac is a notable $1,517,000, reflecting the area’s luxury market and providing insight into overall pricing trends for the region.

What This Means for You
For sellers, this data underscores the strong market conditions. Properties are selling quickly and close to (or above) their listing prices. For buyers, preparation is key—partnering with an experienced REALTOR® is essential to navigate this fast-paced market successfully.

Your Trusted Real Estate Partner
As always, having an experienced and knowledgeable real estate professional by your side is vital for making informed decisions. Whether you’re planning to buy or sell in Potomac, now is an excellent time to explore your options and leverage the opportunities in this vibrant market.

Contact Me Today
I’m here to help you make the most of your real estate journey. If you have questions or want to learn more about the Potomac real estate market, don’t hesitate to reach out.

Thank you for tuning in to this October 2024 Market Update. Stay informed, stay engaged, and let’s achieve your real estate goals together. I’m Adrian Small, and I look forward to assisting you with your real estate needs.