Contact MargaretOdenton Real Estate Update - May 2009
June 22nd, 2009 Categories: Market Updates
The listing inventory went UP to 209 homes in Odenton last month, but it seems like nearly everything else dropped from May 2008:
- New listings
- New sold & settled
- Total sales volume
- Average sold price
- Median sold price
- Average days on market (That’s good news)
- Percentage of sold price to list price
Only the number of new contracts remained stable from May last year to this. In fact, there have been 25 new contracts each May for 3 out of the past 4 years.
This imbalance of supply and demand (new listings vs. new contracts and new sold properties) continues to impact all the other statistics for May 2009:
A client of mine made an offer on a Piney Orchard townhome last week, and there were FOUR offers on the same property. If you’ve been thinking about selling a home in that community, or unsuccessful in recent efforts to sell, you may find it reassuring to know that there are well-qualified buyers shopping for well-priced properties in good condition.
For specific information about your Odenton neighborhood, feel free to contact me any time. If you want more information, but you’re not ready to talk yet, why not request a Market Snapshot.
