Townhome Prices Dropped 4.5 Percent Last Year; Single Family Home Prices Rose 1.5 Percent
Year-end home-sales figures for Odenton, Maryland’s, Chapel Grove neighborhood show home sales remained steady in the community in 2015, but townhome prices significantly lagged those of single-family homes, compared to the previous year.
Statistics supplied by Real Estate Business Intelligence (RBI) show that 14 homes sold in Chapel Grove in 2015 – six single-family detached homes and eight townhomes. Average sale prices for detached homes rose 1.5 percent (to $634,638) from 2014, while average sale prices for Chapel Grove townhomes dropped 4.5 percent (to $365,125).
|Chapel Grove Home Sales 2012-2015|
|No. of Homes Sold||14||12||19||12|
|No. Detached Homes Sold||6||3||10||4|
|No. Attached Homes Sold||8||9||9||8|
|Average Price of Detached Homes||$634,638||$624,667||$631,700||$623,750|
|Average Price of Attached Homes||$365,125||$382,444||$374,308||$362,063|
|Average No. of Days on Market||83||95||67||101|
The sale of townhomes has been remarkably consistent in Chapel Grove over the last four years, with either eight or nine such homes sold in each year from 2012 to 2015. Over the same period, sales of single family homes has varied from a low of three homes in 2014 to a high of 10 homes in 2013.
The average number of “days on market” for Chapel Grove homes sold last year fell from 2014, from 95 days to 83 days. Of the last four years, homes sales were strongest in Chapel Grove in 2013, when 19 homes sold with an average days-on-market of 67 days.
Chapel Grove is comprised of 252 luxury single family homes and 159 townhomes built by Winchester Homes between 2002 and 2009. The homes are located near Fort Meade, Maryland, and are situated on well-planned sites that are surrounded by preserved woodlands and open space for recreation.
For more information on the Fort Meade and Annapolis, Maryland, real estate markets, contact Jerry Kline at (443) 924-7418, or visit his website (www.JerryKlineRealtor.com) or blog (http://jerryklinerealtor.com/about/jerrys-blog/).