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Blog 2011 Odenton Real Estate Year in Review - Single Family Homes

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Real Estate Agent with Blackwell Real Estate License# 641163

  2011 Odenton Real Estate Year in Review - Single Family Homes

Here's a re-cap of how the Odenton single family real estate market did in 2011.  Odenton saw 76 single family homes sold in 2011 ranging in price from $36,000 for a home on Collins Avenue to a $655,00 property on Star Stella Drive.

There are some things you need to keep in mind when looking at these (and other figures.)  The lows and highs are just that, extremes.  So while the $36,000 is low, the next lowest sale price was $105,000- quite a jump. These super low amounts often come from foreclosures, or "handy man specials" being sold as-is.  Looking at the $655,000 property, only two other properties of the 76 where sold for over $600k.  Let's break them down to give you a better picture:
2011 Odenton, MD Single Family Homes Market Review

So you can see that the majority of the sales fell in the $200k to $400k range.  The average Odenton single family home was priced at $359,569 when it went under contract and averaged a net sales price of $339,368.  Sellers provided buyers with an average of $6,438 in closing cost assistance and homes stayed on the market an average of 95 days.

This is down a bit from the 2010 year end stats where the average single family home was priced at $386,022 when it went under contract and averaged a net sales price of $365,079.  An average of $6,857 in closing assistance was given and the average number of days a home stayed on the market was 100.

I think we will see the average days on market continue to hover near the triple digits due to skewing of the numbers by short sales and to some extent foreclosures, both of which can take a long time to get bank approval for offers on.

Finally, to give you some greater perspective, I'm including a chart that tracks the highs and lows of the past ten years.  So, while prices are down from their heydays of 2005 - 2006, they are up from where they were in 2001.
Odenton, MD Single Family Home Sales Ten Year Review

These figures are only ranges and averages, so if you are thinking of buying or selling, give me a call and we can discuss specifics.

Posted by

 

 

    Christie Lane Craven - Long & Foster Real Estate

  Christie Lane Craven

   Odenton, MD

 

Christie Lane Craven - Odenton, MD Real Estate

 

 

 

 

 

 

Comments (3)

Jessica Holtzman
Keller Williams Realty, Inc. - Moorestown, NJ
Real Estate Agent in Southern New Jersey

Great local article.  I really like the charts.  That is a great way to summarize all the data.  Do you know how you did that or what program you used?

Feb 01, 2012 11:10 AM
Christie Lane Craven
Blackwell Real Estate - Odenton, MD
Your Anne Arundel County Agent

Jessica,

Thanks, I actually made the charts in Microsoft Word, did a screen capture of them, pasted them into Paint, cropped them and then saved them as JPEGS.  I find if I try and do tables through coding, they always get messed up somewhere down the line.  If I do them as image files, they always stay pretty!

Feb 07, 2012 08:32 AM
Michael J. Perry
KW Elite - Lancaster, PA
Lancaster, PA Relo Specialist

2011 is a real estate year I want to forget !!!*L*  Good news for this blog post - http://actvra.in/4hVj

Jul 03, 2014 11:40 PM