Maple Ridge

Odenton Home Sales Explode In March

Odenton Homes for sale

Odenton Homes for sale

Sales up 53 Percent, Median Sale Price Up 7.6 Percent Over the Same Period Last Year

Aggressive buyer appetite and a lack of residential properties for sale led Odenton home sales to spike strongly last month, according to year-over-year data released by RealEstate Business Intelligence (RBI).

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 dropped 10 percent from March 2015, to 70 days.

RBI statistics show that the months of supply of housing available in Odenton remains critically low at 3.0 months. Months of supply is a good indicator of whether a real estate market is favoring buyers or sellers. Typically, a market with less than 6 months of supply favors sellers, while more than 6 months of supply indicates an excess of homes for sale, favoring buyers.

In Piney Orchard, a particularly popular community for local home buyers, the market for home sellers was even stronger. The months-of-supply figure for Piney Orchard in March was 2.1 months.

The boom in Odenton real estate was not confined to March, however. RBI year-to-date numbers show strong growth in the Odenton housing market since the beginning of the year.

In the Maple Ridge neighborhood, for instance, 13 homes sold in the first three months of 2016, compared to only two homes over the same period last year. That’s an increase of 550 percent. It’s not surprising, then, that the median Maple Ridge home price has jumped 23 percent since the beginning of the year.

The story is much the same in Piney Orchard. Year-to-date sales numbers for the community show an increase in sales of 55 percent over 2015, and the median price of a Piney Orchard home is up 4.2 percent so far this year.

Not every Odenton community has benefitted from the upswing, however. Year-to-date sales numbers for Seven Oaks, for example, show the number of homes sold there dropped 40 percent (from 30 homes to 18 homes) from the same period in 2015 -- although the median home price in that community did rise 2.3 percent). Given that the average number of days needed to sell a Seven Oaks home dropped 48 percent year over year, the drop-off in sales in Seven Oaks this year is probably explained by a lack of available inventory.

Home sales in other Odenton communities, including Chapel Grove, Four Seasons Estates, Kings Ransom and Eden Brook, remained largely flat compared to the same period in 2015. While sales in Lions Gate are up 66 percent so far in 2016, this increase is based on only five total sales this year (compared to three sales over the same period in 2015).

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 Maple Ridge: Homes Sales Down 24 Percent, Prices Stable

Odenton homes for sale

Odenton homes for sale

25 of the 29 Maple Ridge Homes Sold in 2015 Were Duplexes

The number of homes sold in the Odenton, Maryland, subdivision of Maple Ridge fell 24 percent in 2015, while the median sale price of homes in the community remained at $225,000.

Sales data released by Real Estate Business Intelligence (RBI) show that the number of attached units sold in Maple Ridge dropped 17 percent, from 30 homes in 2014 to 25 homes in 2015. The amount of time needed to sell Maple Ridge homes in 2015 increased 8 percent from the year before, from 60 days to 65 days, on average.

Only four detached, single family homes sold in Maple Ridge in 2015. Five such homes sold during the previous year.

Maple Ridge is one of the older, more affordable communities in Odenton, which is adjacent to the vast Fort Meade military complex. Maple Ridge is located just east of Kings Heights, bordered by Odenton Road on the north and by Waugh Chapel Road on the south.

Maple Ridge is comprised mainly of colonial, split-foyer and rancher/rambler style homes. Most homes in the community were built between the early 1960s and the early 1970s.

According to RBI, 10 of the 29 Maple Ridge homes sold in 2015 were three-bedroom units. The remaining homes sold were four bedroom units.

Seven of the 29 Maple Ridge homes sold last year were bank-owned properties that had been through the foreclosure process. The rest were standard sales.

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 Three-Month Home Sales Rise 17 Percent Over Last Year

Piney Orchard led the way with 48 homes sold, while Seven Oaks had 22

The number of homes sold in Odenton between Aug. 1 and Oct. 31 rose 17 percent over the same period last year, according to figures provided by the Metropolitan Regional Information System. The three-month numbers indicate the local housing market may indeed have turned the corner after several years of falling sales numbers and price declines.

The Piney Orchard community led the town of Odenton in the number of homes sold during the late summer periods of 2011 and 2012, with 48 homes sold over the most recent three months and 31 homes sold from Aug. 1 to Oct. 31 last year.

By a wide margin, Piney Orchard and the Enclave at Seven Oaks led Odenton communities in the number of homes sold during both years. From Aug. 1 through Oct. 31 this year, Seven Oaks had 22 homes sold, while over the same period last year Seven Oaks had 23 homes sold. (See table below.)

Chapel Grove, with nearly 250 single family homes and more than 100 townhomes, was the next highest community in terms of home sales. Maple Ridge, Lions Gate and Four Seasons Estates also contributed steadily to Odenton homes sales during the period.

Eleven Odenton communities produced 87 percent of Odenton home sales during the most recent three-month period. The same 11 communities produced 89 percent of Odenton homes sales from Aug. 1, 2011 through Oct. 31, 2011.

Odenton Community

No. Homes Sold

8/1/12 – 10/31/12

No. Homes Sold

8/1/11 – 10/31/11

Piney Orchard

48

31

Seven Oaks

22

23

Chapel Grove

6

4

Maple Ridge

3

7

Lions Gate

5

4

Four Seasons Estates

3

5

Odenton Heights

2

3

Eden Brook

3

1

Kings Ransom

2

2

Kings Heights

1

2

Town Center Commons

1

2

Other

14

10

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.