Odenton’s Seven Oaks: Home Sales Down 40 Percent from Last Year

Seven Oaks homes for sale

Year-to-Date Figures Show Odenton Housing Market Flourishing Even as Seven Oaks Sales Lag

Sales of residential properties in the Odenton community of Seven Oaks were down 40 percent for the first three months of 2016, even while home sales in the rest of Odenton were up sharply.

Figures recently released by RealEstate Business Intelligence (RBI) show that 18 homes sold in Seven Oaks through March of this year while 30 homes sold during the same period in 2015.

Sales of detached, single family homes in Seven Oaks were down 57 percent from last year, while sales of townhomes, duplexes and condominiums in the community were down 35 percent.

In contrast, in Odenton as a whole, sales were very strong (http://jerryklinerealtor.com/odenton-home-sales-explode-march/). The number of homes sold in Odenton in March (49) rose 53 percent over the same period last year, while the median price of a home sold in Odenton rose 7.6 percent. The average number of days it took to sell an Odenton home in March dropped 10 percent from March 2015, to 70 days.

It’s unclear why home sales in Seven Oaks are not tracking more directly with those of Odenton as a whole. It is one of several popular residential communities surrounding the burgeoning Fort Meade military complex.

RBI data show that availability of Seven Oaks homes is not a problem -- the number of homes actively listed for sale in the community in March 2016 (21) is roughly the same as it was in March 2015 (18). But those homes are not selling as briskly as last year.

Not all news for Seven Oaks home sellers was bad, however. The median price of a home sold in the community so far this year increased 2.3 percent over last year. Also, the amount of time needed to sell a home in Seven Oaks dropped significantly over last year, from 79 days to 41 days.

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.

Odenton’s 10 Most Unwanted Homes

Home for sale in Odenton

Buyers Aren’t Feeling the Love for These Long-Term Market Dwellers Near Fort Meade

Is it their price? Or their condition?

Or is it both?

Homes that linger on the for-sale market for extended periods do so because they don’t appeal to buyers. Usually, it’s because such homes don’t offer good value for money.

Real estate professionals know that any house will sell – even a dilapidated ruin next to a toxic waste dump. The question always comes down to price.

In Odenton – like any residential real estate market – some homes take longer to sell than others. In extreme cases, where price and condition combine to alienate buyers, homes can remain on the market for six months, nine months, or even a year or more.

Below is a list of 10 Odenton homes that have been on the market the longest – in this case, considerably longer than six months. It’s worth noting that the type and location of these properties varies widely, as do the potential reasons buyers might be avoiding them.

1421 Odenton Road

Homes for sale in Odenton

Days on the Market: 739

List Price: $270,000

Community: West Odenton

Home Type: Detached Split Foyer

Sale Type: Potential Short Sale

No. of Bedrooms/Bathrooms: 4/2

MLS No.: AA8257995

8612 Wintergreen Court, #405

Home for sale in Odenton

Days on the Market: 340

List Price: $279,900

Community: Piney Orchard

Home Type: 55+ Condominium

Sale Type: Standard

No. of Bedrooms/Bathrooms: 2/2

MLS No.: AA8680602

1113 Patuxent Road

Homes for sale in Odenton

Days on the Market: 295

List Price: $149,000

Community: Odenton

Home Type: Detached Rambler

Sale Type: Potential Short Sale

No. of Bedrooms/Bathrooms: 2/1

MLS No.: AA8628627

1005 Samantha Lane, #4-301

Homes for sale in Odenton

Days on the Market: 290

List Price: $225,200

Community: Eden Brook

Home Type: 55+ Condominium

Sale Type: Potential Short Sale

No. of Bedrooms/Bathrooms: 2/2

MLS No.: AA9518029

1340 Tenbrook Road

Homes for sale in Odenton

Days on the Market: 258

List Price: $169,900

Community: Maple Ridge

Home Type: Split Foyer Duplex

Sale Type: Potential Short Sale

No. of Bedrooms/Bathrooms: 4/1.5

MLS No.: AA9538400

2002 Watch Point Court

Homes for sale in Odenton

Days on the Market: 253

List Price: $212,000

Community: Seven Oaks

Home Type: Colonial Townhouse

Sale Type: Potential Short Sale

No. of Bedrooms/Bathrooms: 3/2

MLS No.: AA8279463

8612 Fluttering Leaf Trail, #408

Homes for sale in Odenton

Days on the Market: 248

List Price: $219,900

Community: Piney Orchard

Home Type: 55+ Condominium

Sale Type: Standard

No. of Bedrooms/Bathrooms: 2/2

MLS No.: AA8674943

2610 Lotuswood Court

Homes for sale in Odenton

Days on the Market: 248

List Price: $335,000

Community: Piney Orchard

Home Type: Colonial Townhouse

Sale Type: Potential Short Sale

No. of Bedrooms/Bathrooms: 3/2.5

MLS No.: AA8751704

2622 Dragonfly Way

Homes for sale in Odenton

Days on the Market: 244

List Price: $495,884

Community: The Villas at Two Rivers

Home Type: 55+ Colonial Townhouse

Sale Type: Standard

No. of Bedrooms/Bathrooms: 3/2.5

MLS No.: AA8678954

1427 Jackson Road

Homes for sale in Odenton

Days on the Market: 242

List Price: $269,900

Community: Evergreen Estates

Home Type: Detached Split Foyer

Sale Type: Standard

No. of Bedrooms/Bathrooms: 2/2

MLS No.: AA8662520

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.

Home Sales in Odenton’s Seven Oaks Community Up 14 Percent in 2015

Seven Oaks homes for sale

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.

Seven Oaks homes for sale

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.