Odenton’s Seven Oaks community is experiencing significant real estate activity so far in 2012, with 27 homes already sold, 11 currently under contract and another 24 homes actively listed for sale on the multiple listing service. Data provided by Metropolitan Regional Information Systems Inc. (MRIS) show that nearly all of the homes sold in Seven Oaks this year – 24 of 27 -- were townhouses. The remaining properties sold were two detached homes and one duplex.
In terms of homes currently for sale but not under contract, 15 of the Seven Oaks properties are townhouses, four are detached properties and four are duplexes. The list prices range from $199,000 for a townhouse at 1924 Gardenia Court to $405,000 for a single family detached colonial at 311 Ammunition Ave.
For the Seven Oaks homes that have sold this year, prices vary from $180,000 for a contemporary townhouse at 201 Royal Oak Court to $390,000 for a detached colonial at 1950 Artillery Lane. (Another $8,399 was paid by the seller to the buyer of the Artillery Lane house to help close the deal.)
According to MRIS, 13 of the 24 homes actively for sale in Seven Oaks have been on the market less than 30 days, meaning that more than half of the community’s properties currently for sale were put on the market during the peak spring season. Seven of the 24 homes have been on the market between 30 days and six months, two have been on the market between six and nine months, and two have been on the market nine months or more.
Of the 27 Seven Oaks properties that have sold this year, seven were on the market 30 days or less. Thirteen of the properties were on the market between 30 days and six months, three were on the market between six months and nine months, and four were on the market nine months or longer.
Distressed Properties
The MRIS numbers also show that a sizable portion of the homes sold in Seven Oaks this year – and those that currently are for sale -- were put on the market by homeowners in financial distress. Of the 27 homes already sold in the community in 2012, seven were listed as potential short sales and two were foreclosures. Of the 24 Seven Oaks homes currently listed as “active” on MRIS, 10 are potential short sales.
Certain streets in Seven Oaks have shown particularly high levels of real estate activity this year. They include the following:
No. of Homes for Sale & Under Contract
Commissary Circle (5 Homes)
Canteen Circle (3 Homes)
Scaffold Way (3 Homes)
Ammunition Ave (2 Homes)
Knapps Way (2 Homes)
No. of Homes Sold in 2012:
Commissary Circle (5 Homes)
Artillery Lane (2 Homes)
Bulrush Court (2 Homes)
Conquest Way (2 Homes)
Pinecove Ave. (2 Homes)
Jerry Kline is a Realtor with the Odenton, Md., 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.
