December Housing Numbers Show Local Real Estate Heating Up as Winter Sets In.
Home sales in Odenton and Severn rocketed into the end of 2012, with the number of homes sold posting double-digit gains and average prices following not far behind.
Severn home sellers in particular enjoyed a prosperous holiday season, as the number of homes sold in zip code 21144 jumped 53 percent from December 2011. The average price fetched for a Severn home last month was 26 percent higher than the year before.
Demand for single-family detached homes in Severn nearly doubled from December 2011, with 23 such homes sold. A large chunk of the for-sale housing inventory in Severn was swallowed up by buyers last month, reducing the number of available properties for sale from 146 to 107.
It was much the same story for Odenton homes sales as the year ended. According to figures provided by the Metropolitan Regional Information Service, the number of homes sold in Odenton jumped 39 percent from the previous December. While the average price for those homes rose a more modest 4 percent, the average price for attached units, such as town homes, condominiums and duplexes, increased 16 percent.
Dec. 2012
Year over Year
Odenton
21113
Severn
21144
Avg. Sold Price
$274,324 (+4%)
$325,088 (+26%)
No. Units Sold
32 (+39%)
29 (+53%)
Attached Units Sold
25 (+39%)
6 (0%)
Detached Units Sold
7 (+40%)
23 (+77%)
Avg. Days on Market
73 (-39%)
38 (-72%)
No. Active Listings
75 (-41%)
107 (-27%)
As in Severn, the inventory of for-sale properties in Odenton also dropped dramatically last month – 41 percent from the previous year. At the end of 2012, only 75 for-sale homes were left on the market in Odenton.
More proof of a housing market surge in Odenton and Severn appears in the average number of days sold properties in those areas stayed on the market. In Severn, the average “days on market” for those properties fell by an astonishing amount -- from 138 days in December 2011 to 38 days in December 2012. For-sale properties in Odenton also moved off the market much more quickly, dropping from 119 days on the market in December 2011 to 73 days last month.
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.
