MoCoRealEstate

20854 – One Zip Code, Two Worlds

December 8th, 2008 Categories: Luxury Homes, Potomac

Most people think of Potomac as an area of grand estates on large, leafy lots.  One can easily find breath-taking estate homes in Potomac, but this isn’t the only type of home here.  This is a big area with about 17,000 homes.  This zip code usually takes the top spot in Montgomery County for sales volume, and is normally in the top 10 for units sold.  As you get to know the area, Potomac has two distinct flavors.

Age and Types of Homes in Potomac

Before revealing the two ‘flavors’, the first thing to understand about Potomac real estate is that this is an area made up primarily of single family homes – 86% of the total.  Townhomes makeup 13% and about 1% are condos.  In 2008, the median age of a home here was 33 years – half of all homes were built between 1965 and 1979.

Lot Sizes in Potomac

After age, the next differentiator is a homes’ lot size.  Looking at only single family homes, 2/3 of all homes are on less than 0.5 acres.  This is evident when driving through most neighborhoods in Potomac.  Most homes are on compact lots with neighborhoods of winding streets.  Especially as you travel west, homes and lot sizes get larger.  West of Piney Meeting House Road, larger homes are set on spacious lots.  Here you’ll discover a wide variety of custom homes and small developed neighborhoods.

Putting it All Together

So looking at a home’s age and lot size helps distinguish the two primary flavors of Potomac: Suburban Potomac and Estate Potomac.  A typical home in Suburban Potomac is detached, was built before 1980 and is on a lot of less than a half an acre.  Looking at detached home sales in 2008, 50% of all sales met this criteria.  The average sales price was $776,000.  Homes in Estate Potomac are newer and/or on larger lots.  20% of all sales in Potomac were on lots 2 acres or more and had an average sales price of $1,930,000.  Sales prices of newer homes on all lot sizes average over $1M.

Contact us anytime if you are thinking about making a purchase here or interested in more information.

Posted by Bruce Lemieux

This entry was posted on Monday, December 8th, 2008 at 2:05 pm and is filed under Luxury Homes, Potomac. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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