The prices in real estate in Potomac, in the Maryland region have had a strong rise in the last couple of months. The real estate prices for second hand homes have gone through a strong increase in this city.
The price per sq.feet in Potomac has increased strongly during the last 6 months. In April, the average price per sq.feet was $394. In the following month the price per sq.feet increased considerably to $775. The price for the following two months in (June, July) had a considerable increment of 186 %. The price per sq.feet has had a considerable deflation of 32 % in the last two months compared to the average price for the previous four months. This was obtained by comparing the first four months of the period going from a price per sq.feet of $836.5 to $267.5 during August, and September.
Based upon to the price in Potomac (cities), this has gone up considerably in the last 6 months. The price in April is $934,303, rising in May till $1,050,895. During the following two months (June, July) the average price had a considerable increase of 122 % with regard to the previous two months. Based on an analysis of the first four prices and the last two months the average price has risen strongly 123 % during the last two months.
The graph displaying the average price for bedrooms illustrates that those properties with 1 bedroom are the cheapest ones. At a price of $1,227,115 they are 24 % more affordable than the average price for Potomac. The properties with the highest average price have 2 bedrooms, Their price is 6 % more costly than the average. After that we have properties with 1 bedroom priced at $934,517.
With regard to the average price per sq.feet , those properties with 1 bedroom are the most costly ones at a cost of $449 / sq.feet, with an average $271 / sq.feet price in Potomac. The properties with the highest average prices have 2 bedrooms. They are 717 % more expensive than the average followed by properties with 1 bedroom with a price at $449 / sq.feet.
The graph displaying the average prices displays the property type "Land" as the most costly one. At an cost of $1,227,115 it is 5 % more expensive than the average price in Potomac. "House" is seen as the second dearest property type. The dearest property type is "House" followed by "Land". At a price of $1,288,390 it is 6 % more expensive than the average price.
According to the average cost per sq.feet, the most expensive property type would be "House" at an average cost of $2,214 / sq.feet followed by "Land" priced at $4,858 / sq.feet. "Land" is the most costly type of property with a $4,858 / sq.feet cost followed by "House" with an average price of $2,214 / sq.feet.