Odenton, Md., Homes Sold Twice as Fast Last Month as a Year Ago

Average home prices here up 15 percent from April 2012; number of homes sold up 24 percent

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The Odenton real estate market continued to steam forward in April, with significant jumps in average homes prices and the number of homes sold.

According to data released by the Metropolitan Regional Information System (MRIS), average prices for Odenton homes sold in April rose 15 percent from the same time last year. The number of homes sold also increased, from 29 in April 2012 to 36 last month.

Also notable is that Odenton homes continue to sell much more quickly. In fact, in April, they sold twice as quickly as a year earlier. The average number of days that Odenton homes stayed on the market dropped 55 percent, from 136 days in April 2012 to 61 days last month.

Following a trend present in most of west Anne Arundel County, the number of homes for sale in Odenton also continues to drop. Last month 126 homes were listed for sale in zip code 21113, down from 138 homes the previous April.

Another sign of a strong seller’s market in Odenton is reflected in what’s called the “sale price to list price ratio.” Basically, this measure reflects the average price of homes sold, divided by the average original list price of those homes.

In Odenton last month, home sellers got 96.3 percent of the original asking price for their properties, on average. In April 2012, they got 92.8 percent.

The MRIS figures also show a large year-over-year increase in the number of detached single family homes sold. Eleven detached homes sold in Odenton in April 2013, while five sold the previous April.

 

 

April   2013

April   2012

Percent   Change

Avg. Sold Price

$322,138

$279,941

15.07%

No. of Units Sold

36

29

24.14%

Avg. Days on Market

61

136

-55.15%

Avg. SP to LP Ratio

96.3%

92.8%

3.78%

No. Attached Units Sold

25

24

4.17%

No. of Detached Sold

11

5

120.00%

No. of Active Listings

126

138

-8.7%

 

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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