Dying market in Potomac
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Anonymous
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Mansions are not moving in the Potomac Village area even after repeated price reductions and some approach their price levels several years back. It is an area with shopping, library banks etc and not particularly remote. Any ideas?
https://www.redfin.com/MD/Rockville/10001-Gary-Rd-20854/home/10911971 https://www.redfin.com/MD/Rockville/10107-Gary-Rd-20854/home/10888099 https://www.redfin.com/MD/Rockville/10217-Holly-Hill-Pl-20854/home/10920224 https://www.redfin.com/MD/Potomac/10100-Gary-Rd-20854/home/10888011 |
Anonymous
People with money are getting out of here. 
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Anonymous
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People want neighbors?
And walkability. Especially now when we are not driving much and feeling isolated. |
Anonymous
| Ideas on what? How to sell your mansion? |
Anonymous
| Potomac just never had any appeal regardless of whether I could afford it or not. Dated Mcmansions. I would choose CC or Bethesda first. |
Anonymous
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Potomac never had a wow factor other than wanting a huge house with land.
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Anonymous
| It’s pretty much just rich immigrants who want that type of ostentatious spread these days and they’re not infinite numbers of them in the DC area. Between Potomac and Great Falls they have plenty to choose from so houses can sit. |
Anonymous
| The first one is foul, the second one is interesting but I don’t want it, the third one is LOL klassy, the fourth one is boring. |
Anonymous
| There are 78 for sale homes in potomac right now that are over $1M however there are an additional 68 in that price range that are pending. I wouldn't call that dying. |
Anonymous
| Potomac was one of the places to be in this area maybe for my parent's generation. But now, more millenials prefer the urban setting with proximity to metro over the McMansions and the large plot of land. |
Anonymous
| I'm always surprised when families with young kids choose Potomac, which has some of the least family-friendly neighborhoods. I get liking the large houses, but I've always wanted my kids to be able to run around and play with kids in the neighborhood. After schools, that was a top priority in our home search. |
Anonymous
| I wouldn't call it dying, I feel it's been the same way for years. Contrary to popular belief and what you see on DCUM, there aren't that many people who can afford 1.7 so most things at the range are going to sit for a while. That said, I think people would prefer a teardown in Bethesda at that price point. The first three are dated with deferred maintenance. I like the 4th one. |
Anonymous
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I think those were more popular with a generation that mostly had stay at home moms. My mother (now in her 90s) had a friend that lived there --- her husband was a biglaw partner, and the wife stayed home. So a husband having a long commute into the city wasn't that big a deal. Nowadays, with two earner families, no one wants that long a commute. They'd rather spend the money on something close in, like Bethesda near the metro or upper NW. If people are really going to start WFH all the time, maybe it would pick up, as you're more likely to get a pool and home office space in Potomac.
Plus Potomac got really overbuilt with tacky mansions at some point, and I don't think anyone really wants those. |
Anonymous
those people aren't interested in their kids running wild around the neighborhoods. They want structured, organized activities. One deal breaker for us was having a sidewalk. |
Anonymous
| subdivide and build smaller, affordable homes. I'm sure that would go over well. LOL |