Today’s View – October 31, 2014 – Olney, Md. 20832
This is a market report on detached homes in Olney, Md. 20832. At the time of this report (10/31/2014) there are 41 such homes on the market FOR SALE, another 28 under contract, and 13 that have sold in the last 30 days. This is an absorption rate (Active/Sold) of 3.15 months, what is considered a normal market.
This inventory of homes (82) is almost evenly split between 2 (39) and 3 (36) bath homes, with the remainder have 4 or 5 baths. Most of these homes (54) come with 2 car garages.
Two Bedrooms
There is 1 two-bedroom home on the market for sale in Olney at the time of this report. The home is currently listed for $420,000 and has been on the market for over 3 months (98 days). There are no two-bedroom homes in the report area under any form of contract and none have successfully completed the sales process in the last 30 days.
Three Bedrooms
There are 4 three-bedroom detached homes in this area on the market for sale. These homes range in price from a low of $433,000 to $850,000, with the median being $465,000. The days on market for these homes ranges from new to the market (2 days) to over 2 months (66 days) with the median being over 3 weeks (24 days).
There are 3 three-bedroom detached homes in the area that are under some form of contract. The last known list price of these homes ranges in price from a low of $390,000 to $525,000, with the median being $424,900. The days on market for these homes are nearly the same from 46 days to 50 days.
Three three-bedroom detached homes in Olney have successfully completed the sales process in the last 30 days. These homes sold for between $392,500 and $439,000, with the median being $439,000. The days on market for these homes ranges from approaching a week (6 days) to approaching 3 months (83 days) with the median being 2 weeks (12 days).
Four Bedrooms
Clearly a majority of the detached homes on the market for sale in Olney are the 26 four-bedroom homes. These homes range in price from a low of $414,750 to $1,170,000, with the median being $567,450. The days on market for these homes ranges from 1 week (7 days) to nearing 10 months (293 days) with the median being over 2 month (66 days).
There are 20 four-bedroom detached homes in this area under some form of contract. The last known list price of these homes ranges from a low of $345,000 to $977,010 with the median being $564,900. The days on market for these homes ranges from approaching a week (4 days) to over a year (386 days) with the median being over 1.5 months (52 days).
In the last 30 days, 10 four-bedroom detached homes in Olney have successfully completed the sales process. These homes sold for between $367,000 and $615,000, with the median being $520,000. The days on market for these homes ranges from less than a week (6 day) to approaching 5 months ( 145 days) with the median over a month (39 days).
Five Bedrooms
There are 9 five-bedroom detached homes in this area on the market for sale in Olney. These homes range in price from a low of $489,987 to $674,990 with the median being $559,000. The days on market for these homes ranges from new to the market (1 day) to over 3 months (91 days) with the median being 1.5 months (47 days).
There are also 3 five-bedroom detached homes in this area under some form of contract. The last known list price of these homes ranges from a low of $460,000 to $1,300,000 with the median being $719,900. The days on market for these homes ranges from approaching 3 weeks (18 days) to approaching 6 months (177 days) with the median approaching 4 months (109 days).
No five-bedroom detached homes in Olney have successfully completed the sales process in the last 30 days.
Six Bedrooms
There is 1 six-bedroom detached home in Olney on the market for sale at this time. This home is currently listed at $649,900 and has been on the market for 1.5 months (43 days).
There also 2 six-bedroom detached homes in this area under some form of contract. The last known list price of these home being $679,900 after being on the market for approaching 4 months (114 days) and $1,044,495 after being on the market for just over a week (9 days).
No six-bedroom detached home in Olney have successfully completed the sales process in the last 30 days.
If you have any questions about this report or wanting to discuss the possibility of moving into the community or selling your home please call me, leave me a note, or send me an email. I am looking forward to helping you.
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