Piney Station is One of the Largest of 41 Subcommunities Comprising the Odenton, Maryland, Community of Piney Orchard
With 218 homes, Piney Station is one of the largest communities in Piney Orchard -- and one of the most active in terms of real estate transactions.
Of the 218 homes in Piney Station, 37 have sold since the beginning of 2013 and 30 homes have rented. Eleven more homes in Piney Station were listed for sale or rent during that time, only to be subsequently pulled from the market after not finding a renter/buyer. Properties that go unsold or unrented illustrate the importance of pricing homes correctly once a decision has been made to sell or rent.
As shown in the tables below, Piney Station’s real estate activity has varied widely by street.
For instance, Black Oak Way (10) and Barred Owl Way (8) have led the community in sales the last three years, even though Deerberry Court has more homes. Barred Owl Way (9) and Meandering Way (7) have led the community in the number of rented homes. And Barred Owl way has had five homes fail to sell or rent (at least at their original list price), the most in the community.
It’s interesting that Deerberry Court has more homes than any other street yet ranked fourth out of 8 streets in terms of real estate activity (with 6 total transactions). Residents there seem to want to stay! From a real estate perspective, things have been more quiet on High Brandy Way, Piney Pass Way and Junco Court, although these results may be partially due to the fact there are fewer homes on those streets.
The good news is that, after being walloped by the real estate meltdown of 2008, the number of distressed property sales (short sales and foreclosures) in Piney Station has dropped dramatically over the last three years. In fact, only three of the 37 homes sold during that time were distressed properties.
A few other interesting notes about recent Piney Station real estate activity:
* the highest sale price fetched by a Piney Station home during the period was $399,999 for 2550 Junco Court in June 2014;
* the lowest price paid for a Piney Station home was $290,000 for 2519 Black Oak Way in July 2015;
* the highest amount of closing cost help (“subsidy”) paid by a Piney Station home seller was $11,600 for 2512 Black Oak Way in April 2014; and
* 8 of the 37 Piney Station owners who have sold their homes since the beginning of 2013 paid the buyers no closing cost assistance at all.
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, or visit his website (www.JerryKlineRealtor.com) or blog (http://jerryklinerealtor.com/about/jerrys-blog/).