The number of homes sold in Odenton’s Seven Oaks community jumped 14 percent in 2015, increasing to 117 homes from 103 homes sold in 2014.
The median price for Seven Oaks homes remained flat in 2015 at $270,000.
Attached units – including townhomes, duplexes and condominiums – led the increase in sales, rising from 87 homes in 2014 to 103 homes last year. The sale of detached, single-family homes dropped slightly to 14 homes in 2015 from 16 homes the previous year.
Another slightly negative trend for Seven Oaks homes was that they sold more slowly last year, on average, than the year before. The average Seven Oaks home sold in 58 days in 2014; in 2015, the average “days on market” was 62 days.
Located directly across MD Route 175 from the huge military complex at Fort Meade, Maryland, it’s not surprising that the Seven Oaks community remains extremely popular with retired and active-duty military personnel. According to the sales data, supplied by Real Estate Business Intelligence (RBI), 34 Seven Oaks homes were purchased in 2015 by buyers using VA financing.
Forty-two Seven Oaks homebuyers used FHA financing, 32 buyers used conventional financing and 7 buyers paid cash for their properties in 2015.
Of the 117 homes sold in Seven Oaks in 2015:
- 1 was a two-bedroom home;
- 72 were three-bedroom homes;
- 34 were four-bedroom homes; and
- 10 were condominiums.
The increase in home sales in Seven Oaks in 2015 defies last year’s trend in Piney Orchard, another large residential community in the Odenton-Fort Meade area. The number of homes sold in Piney Orchard in 2015 was down 11 percent (http://jerryklinerealtor.com/piney-orchard-home-sales-dropped-11-percent-in-2015/).
Jerry Kline is a Realtor with the Odenton, Md., 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/).generic cialis online cheap