Median Home Prices Jumped 27 Percent, Sales Rose 12 Percent Year Over Year
The Odenton housing market is continuing its climb from the depths of the 2008 housing crisis, with median home prices in the community rising 27 percent last month over the same period the year before.
According to housing statistics published by Metropolitan Regional Information Systems, the median price for homes in zip code 21113 increased from $239,450 in November 2012 to $305,000 last month. The number of homes sold also increased, from 34 in November 2012 to 38 last month.
Also notable in the report was a dramatic drop in the amount of time it takes to sell a home here. In November 2012, the average “days on market” for homes sold in 21113 was 109 days. Last month, that number dropped 59 percent to 45 days.
November also brought a surge in the number of detached homes sold in Odenton, compared to the same period last year. Fifteen detached homes sold in Odenton last month while only six sold in November 2012.
The number of attached homes — such as condominiums, townhomes and duplexes – sold in Odenton dropped 18 percent last month (28 homes vs. 23 homes) over November 2012.
With the local housing market continuing to emerge from a multi-year slumber, more Odenton homeowners are selling their properties. The number of homes actively on the market in Odenton jumped 37 percent last month to 122 homes, a jump from 89 in November 2012.
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).