The Odenton real estate market remains one of the strongest in Anne Arundel County and the general Fort Meade MD area. With highly desirable neighborhoods like Seven Oaks and Piney Orchard that offer top notch amenities and easy commutability to the Odenton MARC station, NSA, and Fort Meade it's no wonder.
In addition to giving you the latest real estate sales stats for Odenton, we're going to take a look back at 2022 to give you a feel for where the market has been, and where it looks to be going.
First, let's see how we did in January. Days on market is up, but falsely inflated by some overpriced and underprepared listings that are just not selling in today's more competitive market. The sold dollar volume is down but that is absolutely lack of inventory which is down over 40%, not lack of demand. Defying the odds, the average value of a home in Odenton increased almost 5% this month. All of these are key indicators that we remain in a seller's market.
Reflecting on 2022 we can see the dramatic decrease in closed sales in Odenton MD that relates directly to the increase in interest rates from the historic lows we saw during the COVID pandemic.
In our first month in 2023 we can see that the supply of available homes in Odenton started climbing in June and almost reached the one month mark (which still establishes a strong seller's market). Typically, a seller's market is defined as a 3 month or less supply of available homes. You can see below that Odenton has been well under that range for over a year.
In summary, homes for sale in Odenton are selling in 26 days or less but, the hottest listings are selling in one week or less. Many sellers, or their agents, are marketing as if this was 2022 when little effort was required to find the best buyer for your home. Today, it's extremely important that you choose a real estate agent that is going to give you an effective plan for preparing, staging, and marketing the home to the widest possible audience of homebuyers. This advanced work will yield you top dollar and contract terms that are most favorable to you. The Roskelly Team would love to put our 22 years of Odenton real estate experience to work for you! Call (410) 721-6694 or visit us online at www.FortMeadeHomes.com to connect with our listing specialist Jessica Hood.
