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Odenton MD Market Statistics - February 2010

Compared to 2009, February 2010 Odenton MD real estate home sales showed pretty nice increases across the board.

Sales volume and units sold increased +72% and +84% respectively. The base for home sales is low, making it difficult to determine an accurate market assessment based on units and volume alone. Despite this, the increase year over year was substantial. Winter months are always difficult to project because of severe weather fluctuations and relatively low number of home sales. This year we experienced two major snow storms which affected real estate across Anne Arundel County.

Several other indicators can help to see what's going on in the Odenton, MD real estate market. The average days on market decreased -38% year over year. This is a pretty strong indicator that the market is moving towards a sellers market. The average list price for homes sold also decreased -6.55%.

Another significant data point is the Average Sale Price as a % of Average List Price. Higher percentages favor sellers. This is one area that Odenton MD showed an increase. Homes are selling much closer to list price than they did just one year ago at this time. Odenton MD home sellers have to be happy about that development.

Most agents I talk to do see the Odenton MD market getting better in the near future. Odenton should see a net gain in home sales once the BRAC transferees begin moving into the area later this year.

Richard Iarossi, REALTOR®
Long and Foster® Real Estate, Inc.
Crofton, MD 21114

410-451-6255 Office
443-995-9595 Cell
Web: http://www.RichSellsHomes.com
eMail: Rich@RichSellsHomes.com

Annapolis MD Real Estate Specialist
Bowie MD Real Estate Specialist
Odenton MD Real Estate Specialist

©2009 - RichSellsHomes, All Rights Reserved

Odenton MD Foreclosures by Category - March 7, 2010
Zip Code 21113

Although Odenton, MD is not considered a community where a lot of foreclosures happen, they do occur. As you can see from the table below, three are only ten Active foreclosures in Odenton, MD today. You can view these three foreclosures by clicking the link here.

Pre-foreclosure and Auction activity has seen an increase in the past few months.

If you're interested in seeing any Odenton, MD foreclosure, or any listing in Odenton, MD, I can help.

Richard Iarossi, REALTOR®
Long and Foster® Real Estate, Inc.
Crofton, MD 21114

410-451-6255 Office
443-995-9595 Cell
Web: http://www.RichSellsHomes.com
eMail: Rich@RichSellsHomes.com

Annapolis MD Real Estate Specialist
Bowie MD Real Estate Specialist
Odenton MD Real Estate Specialist

©2009 - RichSellsHomes, All Rights Reserved

Odenton, MD 21113

If you're searching for a home in Odenton, MD, you have a wide variety of homes to choose from in many price ranges. Whether you're a first time home buyer, or a move up buyer, Odenton, MD should be one of your search destinations.

Adjacent to Ft. Meade, Odenton, MD is an excellent choice for buyers relocating into the area as a result of the Base Realignment and Closing initiative, BRAC.

If you're not already working with a Realtor, I can help you find the perfect Odenton home.

Richard Iarossi, REALTOR®
Long and Foster® Real Estate, Inc.
Crofton, MD 21114

410-451-6255 Office
443-995-9595 Cell
Web: http://www.RichSellsHomes.com
eMail: Rich@RichSellsHomes.com

Annapolis MD Real Estate Specialist
Bowie MD Real Estate Specialist
Odenton MD Real Estate Specialist

©2009 - RichSellsHomes, All Rights Reserved

Odenton MD Foreclosures

Odenton MD Bank Owned Properties - 02/21/10

If you're interested in seeing an Odenton MD foreclosure, I can help.

Richard Iarossi, REALTOR®
Long and Foster® Real Estate, Inc.
Crofton, MD 21114

410-451-6255 Office
443-995-9595 Cell
Web: http://www.RichSellsHomes.com
eMail: Rich@RichSellsHomes.com

Annapolis MD Real Estate Specialist
Bowie MD Real Estate Specialist
Crofton MD Real Estate Specialist

©2009 - RichSellsHomes, All Rights Reserved

Odenton MD Market Statistics - January 2010

Compared to 2009, January 2010 Odenton MD real estate home sales were down almost across the board.

Sales volume and units sold decreased 21% and 20% respectively. The base for home sales is low, making it difficult to determine an accurate market assessment based on units and volume alone. Despite this, the decrease year over year was substantial. Winter months are always difficult to project because of severe weather fluctuations and relatively low number of home sales.

Several other indicators can help to see what's going on in the Odenton, MD real estate market. The average days on market increased 22% year over year. This is pretty unusual, since the neighboring town, Crofton, showed a significant decrease in the length of time a home is on the market. Unlike Crofton, the Odenton MD real estate market still seems to be favoring buyers. The average list price for homes sold also decreased 7.64%.

Another significant data point is the Average Sale Price as a % of Average List Price. Higher percentages favor sellers. This is one area that Odenton MD showed an increase. Homes are selling much closer to list price than they did just one year ago at this time. Odenton MD home sellers have to be happy about that development.

Most agents I talk to do see the Odenton MD market getting better in the near future. Odenton should see a net gain in home sales once the BRAC transferees begin moving into the area later this year.

Richard Iarossi, REALTOR®
Long and Foster® Real Estate, Inc.
Crofton, MD 21114

410-451-6255 Office
443-995-9595 Cell
Web: http://www.RichSellsHomes.com
eMail: Rich@RichSellsHomes.com

Annapolis MD Real Estate Specialist
Bowie MD Real Estate Specialist
Crofton MD Real Estate Specialist

©2009 - RichSellsHomes, All Rights Reserved

Odenton MD Real Estate - Status for Week Ending 01/30/10

Odenton MD added 13 new active listings to the current inventory last week. These were a good combination of offerings for anyone from first time home buyers to move up purchasers. Two of the 13 were detached homes while the rest were townhouse or duplex style with the most expensive going for $449,900.

Seven new rental listings came on the market and three had applications registered. Right now, the rental market is very robust in Odenton, MD, as usual.

Thirteen properties moved or changed status into some sort of Contract status. This is a future indicator of settlements to come in the near future. Interestingly, 4 properties were accepted as contracts with a Kick Out.

If you're looking to purchase or sell a home in Odenton, MD or the surrounding area, I can help.

The local Multiple Listing Service (MRIS) uses the following status types to indicate a property's availability:

• ACTIVE: Indicates that the property is available with no contingencies, contract or application registered against it.
• CNTG/KO: (Contingent with Kick Out) - Indicates that the property is available but has a contract with at least one pending contingency that includes a kick out clause.
• CNTG/NO KO: (Contingent with No Kick Out) - Indicates that the property is available but has a contract with at least one pending contingency and the pending contingencies do not contain kick out clauses.
• APP REG: (Application Registered) - Indicates that the property is available but a rental application has been registered on it.
• CONTRACT: - Indicates that the property has a ratified contract with no pending contingencies. If the only remaining contingency is financing the status should be contract.
• SOLD: - Indicates that the property is sold and settled.
• RENTED: - Indicates that the property has been rented.
• TEMPORARY OFF: - Indicates that the property is not available for showing. This status is for short term use and must have seller approval.
• EXPIRED: - Indicates that the listing agreement has expired.
• WITHDRAWN: - Indicates that the listing agreement has been terminated prior to its original date.

Richard Iarossi, REALTOR®
Long and Foster® Real Estate, Inc.
Crofton, MD 21114

410-451-6255 Office
443-995-9595 Cell
Web: http://www.RichSellsHomes.com
eMail: Rich@RichSellsHomes.com

Annapolis MD Real Estate Specialist
Bowie MD Real Estate Specialist
Odenton MD Real Estate Specialist

©2009 - RichSellsHomes, All Rights Reserved

Odenton MD Real Estate - Status for Week Ending 01/23/10

Odenton MD added 9 new active listings to the current inventory last week. These were a good combination of offerings for anyone from first time home buyers to move up purchasers. All of the listings were townhouse or duplex style with the most expensive going for $359,900.

Seven new rental listings came on the market and eight had applications registered. Right now, the rental market is very robust in Odenton, MD, as usual.

Twelve properties moved or changed status into some sort of Contract status. This is a future indicator of settlements to come in the near future.

If you're looking to purchase or sell a home in Odenton, MD or the surrounding area, I can help.

The local Multiple Listing Service (MRIS) uses the following status types to indicate a property's availability:

• ACTIVE: Indicates that the property is available with no contingencies, contract or application registered against it.
• CNTG/KO: (Contingent with Kick Out) - Indicates that the property is available but has a contract with at least one pending contingency that includes a kick out clause.
• CNTG/NO KO: (Contingent with No Kick Out) - Indicates that the property is available but has a contract with at least one pending contingency and the pending contingencies do not contain kick out clauses.
• APP REG: (Application Registered) - Indicates that the property is available but a rental application has been registered on it.
• CONTRACT: - Indicates that the property has a ratified contract with no pending contingencies. If the only remaining contingency is financing the status should be contract.
• SOLD: - Indicates that the property is sold and settled.
• RENTED: - Indicates that the property has been rented.
• TEMPORARY OFF: - Indicates that the property is not available for showing. This status is for short term use and must have seller approval.
• EXPIRED: - Indicates that the listing agreement has expired.
• WITHDRAWN: - Indicates that the listing agreement has been terminated prior to its original date.

Richard Iarossi, REALTOR®
Long and Foster® Real Estate, Inc.
Crofton, MD 21114

410-451-6255 Office
443-995-9595 Cell
Web: http://www.RichSellsHomes.com
eMail: Rich@RichSellsHomes.com

Annapolis MD Real Estate Specialist
Bowie MD Real Estate Specialist
Odenton MD Real Estate Specialist

©2009 - RichSellsHomes, All Rights Reserved

Odenton MD, 21113

Several of the Odenton, MD home sales statistics looked better in November, 2009 compared to November, 2008.

More units are being sold, but in the lower price ranges. 32 of the 33 sales were in the price range under $500,000, while fully 25 of the 33 listings were under the $350,000 price range.

During the month of November, 2009, 41 new listings were added to the Odenton, MD home inventory, while 33 were sold.

In a peek at the near term future, 31 homes went under one of the various contract categories. Despite that, more houses were added to the Odenton MD inventory in November, than went off.

From the data, it looks like first time home buyers were fueling the Odenton, MD home sale increases in November, 2009. That makes sense since there was an urgency to buy because the $8,000 tax credit was set to expire on November 31st. That has since been changed by Congress taking some of the sense of urgency off first time home buyers.

It certainly was a nice month for Odenton real estate sales. Let's see if the trend can continue now that some of the pressure is off 1st time home buyers getting into a home quickly. They have an extra four months now to still qualify for up to an $8,000 tax credit.

If you're not already working with a Realtor® to find that perfect Odenton, MD home, I can help. Call me at 443-995-9595 any time.

SOURCE: Metropolitan Regional Information Systems, Inc.
Information deemed reliable, but is not guaranteed.

If you're SEARCHING for a home anywhere in Maryland, click here to view ALL ACTIVE LISTINGS.

Richard Iarossi, REALTOR®
Long and Foster® Real Estate, Inc.
Crofton, MD 21114

410-451-6255 Office
443-995-9595 Cell
Web: http://www.RichSellsHomes.com
eMail: Rich@RichSellsHomes.com

Annapolis MD Real Estate Specialist
Bowie MD Real Estate Specialist
Crofton MD Real Estate Specialist

©2009 - RichSellsHomes, All Rights Reserved

As you can imagine, home buyers in Odenton, MD, frequently take advantage of VA loans. I'm pretty sure that this is one of the few communities around where VA loans exceeded Conventional loans for home purchases in September, 2009.

Of course, Ft. Meade, home to the NSA is the cause of so many VA loans.

In September, 2009 though, FHA loans were at the top of the list with 10. This loan type is very attractive for first time home buyers since it only requires 3.5% of the purchase price as a down payment.

If you're looking for a home in Odenton, MD, I work with an outstanding lender who can secure the best financing to meet your needs.

If you're not already working with a Realtor® to find a home in Odenton, MD, I can help.

If you're SEARCHING for a home anywhere in Maryland, click here to view ALL ACTIVE LISTINGS.

Richard Iarossi, REALTOR®
Long and Foster® Real Estate, Inc.
Crofton, MD 21114

410-451-6255 Office
443-995-9595 Cell
Web: http://www.RichSellsHomes.com
eMail: Rich@RichSellsHomes.com

Annapolis MD Real Estate Specialist
Bowie MD Real Estate Specialist
Crofton MD Real Estate Specialist

©2009 - RichSellsHomes, All Rights Reserved

Odenton, MD real estate sales in September, 2009 compared to the same month in 2008 were not trending upward.

The number of units sold was almost the same so the reduction in average prices is reflective of the price ranges that are active. 24 of the total 26 homes sold in Odenton, MD during the month of September, 2009 were under $400,000.

Crofton, MD, a neighboring community had 8 homes sold over $500,000.

The Odenton, MD homes for sale inventory remains high at 198. It grew slightly since 42 new listings came on the market while 26 were settled.

Taking a peek at the future it looks like the trend is turning around. 38 homes went into one of the contract stages.

Interestingly, houses are selling faster in Odenton, MD in September of this year compared to last, even while the inventory continues to grow.

If you're SEARCHING for a home anywhere in Maryland, click here to view ALL ACTIVE LISTINGS.

Richard Iarossi, REALTOR®
Long and Foster® Real Estate, Inc.
Crofton, MD 21114

410-451-6255 Office
443-995-9595 Cell
Web: http://www.RichSellsHomes.com
eMail: Rich@RichSellsHomes.com

Annapolis MD Real Estate Specialist
Bowie MD Real Estate Specialist
Crofton MD Real Estate Specialist

©2009 - RichSellsHomes, All Rights Reserved