Piney Orchard

Piney Orchard Townhomes: Are End Units Worth More?

Piney Orchard homes Yes. $5,499 more, on average.

Since the beginning of 2015, 120 townhomes have sold in the Piney Orchard section of Odenton, Maryland. According to Metropolitan Regional Information Systems (MRIS), the local multiple listing service, 88 of those homes were “interior” units, and 32 were “end” units.

The average sale price of the interior townhomes sold in Piney Orchard during that time was $330,864. The average Piney Orchard end-unit townhome sold for $336,363. That’s a difference of $5,499.

Why would that be?

Many buyers prefer end units to interior units when purchasing a townhome. Among the reasons:

- end units offer more privacy and serenity, because they have only one adjacent neighbor;

- end units often have larger interiors in terms of total square feet;

- with windows on three sides, end units usually allow more natural light inside;

- with a yard on three sides, they offer more outside space to spread out; and

- they sometimes offer more architectural interest, inside and out.

 

Garages usually increase a home’s value. But curiously, the $5,499 premium buyers have paid for Piney Orchard end units since the beginning of 2015 is not because a greater proportion of the end units had garages.

In fact, the opposite is true: 31 percent of the interior townhomes purchased in Piney Orchard since the beginning of 2015 offered a garage, while only 19 percent of end-unit townhomes did.

The simple fact is that if you want to buy an end-unit townhome in Piney Orchard, expect to pay about $5,000 more for it than you would for an interior townhome. Sales data since the beginning of 2015 shows that the added benefits of owning an end unit make them worth more.

 

Jerry Kline is a Realtor with the Odenton, Maryland, office of Keller Williams Flagship of Maryland (1216 Annapolis Rd., Odenton, MD 21113.) For more information on the local real estate market, contact him at (443) 924-7418, or visit his website (www.JerryKlineRealtor.com) or blog (http://jerryklinerealtor.com/about/jerrys-blog/).

Piney Orchard Home Sales Rocket Into Spring

Piney Orchard home sales

Piney Orchard home sales

Sales Last Month Up 83 Percent Over March 2015; Median Price Up 6.3 Percent

Home sales in the Odenton, Maryland, community of Piney Orchard in March soared 83 percent over the same period a year ago, leading a very strong spring housing market in the greater Fort Meade, Maryland, area.

Numbers released by RealEstate Business Intelligence (RBI) show that the median price of homes sold in Piney Orchard last month jumped 6.3 percent (from $287,000 to $305,000) from March 2015. Twenty two homes sold in Piney Orchard last month, compared to 12 homes sold in March 2015.

- 12 three-bedroom townhomes sold for an average price of $339,869;

- 1 four-bedroom townhome sold for $380,000;

- 1 detached, single family home sold for $470,000; and

- 8 condominiums sold for an average price of $238,800.

Given the close proximity of Fort Meade to Piney Orchard and the large number of local homebuyers who are retired and active-duty military personnel, it’s interesting to note that only two of the 22 Piney Orchard homes sold last month were purchased by buyers using VA mortgage financing. Also surprising is that none of the Piney Orchard homebuyers last month used FHA financing – a very popular mortgage option in most places.

Sixteen of the 22 Piney Orchard homes sold last month were purchased using conventional financing, one was bought using cash, and three other homes were purchased using other forms of financing.

Jerry Kline is a Realtor with the Odenton, Maryland, office of Keller Williams Flagship of Maryland (1216 Annapolis Rd., Odenton, MD 21113.) For more information on the local real estate market, contact him at (443) 924-7418, or visit his website (www.JerryKlineRealtor.com) or blog (http://jerryklinerealtor.com/about/jerrys-blog/).