Odenton Home Sales Up 32 Percent Last Month

The number of homes sold in Odenton last month was 32 percent greater than in April 2011, according to the latest housing statistics issued by the Metropolitan Regional Information System (MRIS). The increase follows a 61 percent jump in year-over-year Odenton home sales in March, indicating very brisk local sales activity this spring.

Also notable in the report is a hefty 57 percent jump in the average sold price for detached Odenton homes last month. Five detached homes closed for a price between $400,000 and $499,000 in April, pushing the average sold price for detached homes to $441,652.

The number of attached Odenton units for sale, such as townhouse and condominiums, also jumped in April, up 33 percent. However, the average price of the attached homes that sold dropped 8 percent, to $246,252.

The average number of days that Odenton for-sale properties spent on the market continued to pose challenges for homeowners. In April 2011, sellers waited an average of 94 days to sell their properties, but last month that period was extended to 136 days.

Finally, another local housing trend — present in Odenton, Gambrills and Crofton in recent months – has been the significant drop in for-sale home inventory. The trend continued in Odenton in April, with the number of active homes for sale falling from 190 in April 2011 to 138 last month, a 27 percent drop.

The full MRIS housing statistics report for Odenton is available at:

http://www.rbintel.com/statistics/zip-code-report?zip=21113

Jerry Kline is a Realtor with the Odenton, Md., office of Keller Williams Flagship Realty (1216 Annapolis Rd., Odenton.) For more information on the local real estate market, contact him at (443) 924-7418, or visit his blog (www.JerryKlineRealtor.wordpress.com) or website (www.JerryKline.kwrealty.com).

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