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.

Gambrills Home Sales: It’s a Strong Market for Sellers

Gambrills Home Sales

Sales Last Month Up 150 Percent Over March 2015; Median Price Up 36 Percent

Home sellers in Gambrills, Maryland, enjoyed a very strong month of buyer activity last month as the median price of a Gambrills home jumped 36 percent from March 2015.

Numbers compiled by RealEstate Business Intelligence (RBI) show that buyers of Gambrills homes gobbled up the properties 40 percent faster than in March 2015. The average time needed to sell a Gambrills home dropped from 134 days to 81 days, year over year.

The number of homes sold in Gambrills last month – 15 -- far outpaced sales in March 2015 (6), an increase of 150 percent. The rise was due to a strong jump in the number of detached homes that were sold (13). Four such homes sold in March 2015.

The median price of a Gambrills home last month rose to $570,000.

The robust home sales figures for Gambrills mirror those of other Fort Meade-area communities, including Odenton. 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 (http://jerryklinerealtor.com/odenton-home-sales-explode-march/).

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.

Piney Orchard Townhomes: Are End Units Worth More?

Piney Orchard homes

Yes. $5,499 more, on average.

Since the beginning of 2015, 120 townhomes have sold in the Piney Orchard section of Odenton, Maryland. According to Metropolitan Regional Information Systems (MRIS), the local multiple listing service, 88 of those homes were “interior” units, and 32 were “end” units.

The average sale price of the interior townhomes sold in Piney Orchard during that time was $330,864. The average Piney Orchard end-unit townhome sold for $336,363. That’s a difference of $5,499.

Why would that be?

Many buyers prefer end units to interior units when purchasing a townhome. Among the reasons:

- end units offer more privacy and serenity, because they have only one adjacent neighbor;

- end units often have larger interiors in terms of total square feet;

- with windows on three sides, end units usually allow more natural light inside;

- with a yard on three sides, they offer more outside space to spread out; and

- they sometimes offer more architectural interest, inside and out.

Garages usually increase a home’s value. But curiously, the $5,499 premium buyers have paid for Piney Orchard end units since the beginning of 2015 is not because a greater proportion of the end units had garages.

In fact, the opposite is true: 31 percent of the interior townhomes purchased in Piney Orchard since the beginning of 2015 offered a garage, while only 19 percent of end-unit townhomes did.

The simple fact is that if you want to buy an end-unit townhome in Piney Orchard, expect to pay about $5,000 more for it than you would for an interior townhome. Sales data since the beginning of 2015 shows that the added benefits of owning an end unit make them worth more.

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.

Piney Orchard Home Sales Rocket Into Spring

Piney Orchard home sales

Sales Last Month Up 83 Percent Over March 2015; Median Price Up 6.3 Percent

Home sales in the Odenton, Maryland, community of Piney Orchard in March soared 83 percent over the same period a year ago, leading a very strong spring housing market in the greater Fort Meade, Maryland, area.

Numbers released by RealEstate Business Intelligence (RBI) show that the median price of homes sold in Piney Orchard last month jumped 6.3 percent (from $287,000 to $305,000) from March 2015. Twenty two homes sold in Piney Orchard last month, compared to 12 homes sold in March 2015.

- 12 three-bedroom townhomes sold for an average price of $339,869;

- 1 four-bedroom townhome sold for $380,000;

- 1 detached, single family home sold for $470,000; and

- 8 condominiums sold for an average price of $238,800.

Given the close proximity of Fort Meade to Piney Orchard and the large number of local homebuyers who are retired and active-duty military personnel, it’s interesting to note that only two of the 22 Piney Orchard homes sold last month were purchased by buyers using VA mortgage financing. Also surprising is that none of the Piney Orchard homebuyers last month used FHA financing – a very popular mortgage option in most places.

Sixteen of the 22 Piney Orchard homes sold last month were purchased using conventional financing, one was bought using cash, and three other homes were purchased using other forms of financing.

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 Home Sales Explode In March

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.

Need a Bowie Home With 15 Garage Spaces???

Collector Cars

If You're a Car Nut/Mechanic/Collector Looking to House You and Your Beauties, I Have Just the Property for You!

This quiet, rural compound sits on six secluded acres near Bowie, Maryland. The 7,460 sq. ft. home, built in 2000, features six bedrooms, 7.5 baths and three fireplaces.

Front View

The home is very nice -- don't get me wrong. But it's the car storage options here that make this property particularly special.

Indeed, the property includes three garages comprising more than 15 spaces. The first garage is a more traditional, extra-deep, three-car garage that's attached to the main house:

Rear View

But the remaining two detached garages really set this home apart.

The second garage is a concrete block structure with an office, extra storage and three bays, including one with a 10-ft. door

to accommodate large trucks and RVs. Finally, the third garage is a cavernous, steel, multipurpose structure that can easily handle 9+ cars or the largest tractor trailer trucks made today. The building's wide-open interior and soaring ceilings can be configured hundreds of ways to meet your needs.

Sky View

Best of all, the terrain of this property drops off from front to rear, meaning that the two large, detached garages are located downhill and away from the main house. So, the owner can quietly enjoy the luxury residence, while not feeling like he or she is living in a commercial auto service center.

If you or someone you know are looking for a new home and are into collecting, working on or just enjoying automobiles of any sort, contact me (443-924-7418) today! I'll arrange a private tour of this unique property at your convenience.

Tony & Kim, Your Home is Under Contract!

Listed at $340,000, the Property Received Multiple Bids

Homes for sale near Fort Meade

Eleven days, 22 showings, multiple offers. Thanks for allowing me to sell your home at 7915 Evesboro Drive in Severn, Maryland!

Do you know someone looking to buy or sell a home in the greater Fort Meade, Maryland, area? Call me today (443-924-7418) and let's discuss how I can help you.

Home for Sale in Severn: 1829 Quebec St. is Under Contract!

Homes for sale near Fort Meade Maryland

Congratulations, Trent! You are under contract for the sale of your long-time home at 1829 Quebec St. in the Provinces of Severn. Thank you for choosing me as your listing agent – it’s been a fun project!

If you or someone you know needs to sell a home in the greater Fort Meade, Maryland, area, call me today (443) 924-7418. I’ll explain exactly what I’ll do to sell your home for the most money in the shortest amount of time.

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.

Gambrills Home Sales: Median Price Up 13 Percent in 2015

Gambrills homes for sale

Gambrills Homes Took 77 Days to Sell Last Year, on Average

The median price of a home sold in Gambrills, Maryland, rose 13 percent in 2015, led by a 15 percent jump in the sale price of condominiums.

Statistics published by Real Estate Business Intelligence show that 45 of the 175 homes sold last year in zip code 21054 were condos, and the average price of those units jumped from $274,295 in 2014 to $314,637 in 2015.

The average sale price of all attached homes in Gambrills – including townhomes, duplexes and condos – rose 10 percent over the year before.

Owners of Gambrills detached, single family homes did not fare as well. Average sale prices for those homes actually dropped from the prior year, by 3 percent.

The number of detached homes sold (120) was up 4 percent in 2015, from 115 in 2014. The number of attached homes sold (55) dropped 11 percent in 2015, from 62 in 2014.

One negative factor affecting all Gambrills home sellers last year was a 10 percent rise in the “days-on-market” figure. This means that Gambrills homes took a week longer to sell on average than the year before (77 days versus 70 days in 2014).

Finally, of particular note to owners of Gambrills luxury homes, 2015 showed a tremendous drop in the sale of homes priced $800K and over. In 2015, only two homes sold in this price range. In 2014, eight such homes sold.

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-Area Homes for Sale: 8 Homes with Inground Pools!

Odenton homes for sale

Be the King or Queen of Summertime With a Fabulous, Hot-Weather Oasis!

This week’s balmy weather already has locals thinking of hot summer days and cooling dips in whatever swimming hole they can find. Don’t settle for lawn sprinklers and squirt guns to cool off when you can own your very own inground pool!

Eight homes currently on the market in the greater Odenton area feature this sought-after luxury. Priced from $365,000 to $1.26 million, these eight properties represent fantastic deals: simply purchase the pool and the seller will include the home at no additional charge!

1423 Macedonia Drive, Hanover, MD

Homes for sale in Hanover

List Price: $365,900

Features: 4 BRs, 2.5 BAs, 1-Car Garage, Colonial

7907 Elberta Drive, Severn, MD

Homes for sale in Severn

List Price: $399,900

Features: 4 BRs, 2.5 BAs, 2-Car Garage, Colonial

1011 Arundel Station Road, Millersville, MD

Homes for sale in Millersville

List Price: $425,000

Features: 4 BRs, 2 BAs, 2-Car Garage, Rancher

678 Stafford Hill Drive, Glen Burnie, MD

Homes for sale in Glen Burnie

List Price: $439,999

Features: 5 BRs, 3 BAs, 2-Car Garage, Colonial

2461 Symphony Lane, Gambrills, MD

Homes for sale in Gambrills

List Price: $539,900

Features: 5 BRs, 3.5 BAs, 2-Car Garage, Colonial

204 Jenny Gay Court, Severn, MD

Homes for sale in Severn

List Price: $705,000

Features: 4 BRs, 5.5 BAs, 3-Car Garage, Colonial

915 Saint Michael Drive, Gambrills, MD

Homes for sale in Gambrills

List Price: $759,900

Features: 4 BRs, 4.5 BAs, 2-Car Garage, Contemporary

1111 Abbington Lane, Crownsville, MD

Homes for sale in Crownsville

List Price: $1.265 million

Features: 5 BRs, 4.5 BAs, 2-Car Garage, Colonial

For more information on these properties, give me a call!

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.