Prices Flat Over March 2014, But Number of Closed Sales Dropped 27 Percent
Home sales in Odenton, Maryland, were largely flat last month, with several key numbers little changed from the same period one year ago. One big exception to that trend, however, was the number of home sales that closed in Odenton in March. Closings were down 27 percent from March 2014.
Among other key findings of the latest Real Estate Business Intelligence (RBI) report:
– the number of new listings in Odenton in March (61) was down 6 percent from March 2014 (65);
– the number of new transactions awaiting closing (70) was up 3 percent from March 2014 (68);
– the median price for homes sold in Odenton ($283,500) was down 1 percent from last year ($286,000);
– the number of homes listed for sale in Odenton last month (121) was basically the same as last year (124); and
– the average “days on market” for homes sold in Odenton in March (78) was slightly more than in March 2014 (74).
Another key sales metric watched by realtors is the average “sold-price to original-list-price” ratio, which gives home sellers a rough idea of what price they can expect to get from their home sale based on a realtor’s pricing strategy. In Odenton in March, average final sale prices for homes sold were 96.8 percent of the original list price amount.
Jerry Kline is a Realtor with the Odenton, Maryland, 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).