Home > Blogs > Margaret Woda > Real Estate The Woda Way

Real Estate Report for Odenton, Maryland - August 2010

By Margaret Woda

Real Estate Agent with Long & Foster Real Estate, Inc.

September 24, 2010 01:39 PM

ODENTON, MARYLAND, REAL ESTATE UPDATE

The listing inventory is up slightly from last year, but the average and median sold prices are down. In fact, both the average and median sold prices are the lowest of any August in five years:

21113 - 8.10

Unfortunately, the number of units sold and the number of homes that went under contract last month in Odenton are also the lowest of any August over a five-year span.

Average days on market, however, is a bright spot on this chart, down over 20% from the same month last year.

"What do all these numbers mean to the average homeowner?" you ask. My crystal ball is not in perfect focus, but my educated guess is that we're still feeling the effects of the tax credit which bribed prospective home buyers to advance their home-buying plans for a few months. It will take a while for the market to reflect actual supply and demand, and we'll just have to be patient.

Compare Odenton with Anne Arundel County Real Estate - August 2010

Comments(5)

Comment

Show All Comments

Sort:

Olympus Executive Realty Inc.

Olympus Executive Realty INC. - Orlando, FL

Home Of The Top Producers

Thank you for the great wealth of information

and update on your area,

Wishing you the best!

Sep 24, 2010 02:21 PM

Pat Haddad, ABR, CRS, ePRO, GRI

Keller Williams Indianapolis Metro NE - Carmel, IN

Carmel, Fishers, Westfield IN Real Estate Expert

Margaret--your local residents are very lucky to have such an informed REALTOR providing market updates. Your chart is a think of beauty. This is a skill I hope to improve very soon!!

Sep 24, 2010 03:01 PM

Joan Whitebook

BHG The Masiello Group - Nashua, NH

Consumer Focused Real Estate Services

Margaret ~ We have seen similar results in the market report all over the US. I think it is a bit too soon for our crystal balls to clear. The low interest rates would seem to be an incentive, but I don't NAR has done a good public relations job of educating the consumer that if they are going to own a home for approx 5 or more years, they will benefit even more than with the tax credit.

Sep 24, 2010 03:58 PM

Margaret Woda

Long & Foster Real Estate, Inc. - Crofton, MD

Maryland Real Estate & Military Relocation

Vick, thanks for reading and commenting.

Thank you, Pat. It's my hope that this type of chart will help put things in perspective for local consumers. OUR mls is coming out has recently introduced a new partner that will make and provide charts for us, starting next month (I believe). They're very "pretty" so I may switch to them - but then they'll be like everyone else's.

Joan - I find it fascinating to do these for 5 adjacent zipcodes and see how they differ from each other. If I didn't know better, I'd think they're in different areas of the country, instead of 2 mintues away.

Sep 24, 2010 04:18 PM

Ryan Case

Pacific Servicing - Temecula, CA

I love to see the low days on market stat! We have the same out here in Southern California if the home is priced correctly!

Sep 24, 2010 06:50 PM

Real Estate Report for Odenton, Maryland - August 2010

Comments(5)

Margaret Woda

Service Areas

Real Estate Resources

Additional Information