January 2009 Piney Orchard Sales Statistics               There were 11 homes sold in Piney Orchard for January 2009                   Original list price Final Sold Price Bedrooms Baths Days on market Min $312,500 $280,000 2 3 …

While the overall stats for Piney Orchard look pretty stable, the reality is that a huge change is taking place.  In the past 6 months we've seen the biggest decrease in value since the market flat lined in 2005.   This should really begin to show with the final year end stats and first quarter of 2009. 

As of 12/21 here's how the market is shaping up

83          Total active and under contract listings
14          Homes under contract
18          Foreclosure or short sale listings (5 under contract 13 active)
Average days on market is at 154
 

October 1 - December 21st Piney Orchard Sales Statistics   …

Since our last update in late January the market has remained relatively stable.  And we seem to be absorbing the inventory just a little bit faster thanks to an unusually active February.  There are currently 115 homes actively for sale in the Piney Orchard community.  This is down just slightly from 130 in January. 

Actively listed homes for sale

• 12 single family homes priced $380,000 - $795,000
•  58 Townhomes priced $280,000 - $575,000
• 45 Condominiums priced $240,000 - $415,000

Under contract properties

• 29 homes, townhomes and condos currently under contract

Sold properties

• 38 homes have sold and settled since 1/1/08
• 5 single family homes priced $505,000 and $750,000
• 27 townhomes ranging…

Piney Orchard Real Estate and Homes for Sale

Active MLS listings in Piney Orchard
There are 130 Active listings in Piney Orchard at 1/1/08.  This includes single family homes, townhomes and condominium properties.  

The average sales price of all combined homes for sale in Piney Orchard lowered slightly  in the final quarter of 2007 from $390,000 in September to $379,00 for a quarterly total.  This 3% decrease is actually a bit lower than what we are seeing in other Anne Arundel county markets.  The average days on market decreased slightly to 97 days which is about at August levels, an encouraging sign?

Piney Orchard Homes under contract
13 homes in Piney Orchard were marked under contract which is just one less than we had last month.  The…

Listed below are our recent Piney Orchard home sales to give you a summary of the real estate market activity.    Additional photos and information on these homes are available at www.PineyOrchardHomes.com or e-mail us for a free market value analysis of your Piney Orchard home.

This Piney Orchard Single Family home was for sale at $509,900 and sold in 49 days on the market for $500,000 with $5,000 in closing help to the homebuyer.  We are seeing the biggest concessions on those Piney Orchard homes for sale that are priced over $500k.  Similar homes sold in Piney Orchard in 2006 for about $540,000 which reflects the typical decrease in home pricing.  This home was in excellent condition and appraised at $540k.  It received two offers plus a back up…

The Piney Orchard real estate inventory decreased in August 2007 with homes for sale leveling out back to about June levels.  Still with over 164 homes actively for sale in August and just 30 properties under contract or sold, it is still a strong home buyers market.  The totals below include all single family homes, townhomes, and condominums for sale in the Piney Orchard subdivision in Odenton Maryland.

There were 164 Actively for sale properties with an average sales price of $392k and an average days on market of 82

14 properties went under contract with an average asking price of $395k and a delightful days on market average of just 17 days.  Buyers know what they want and…

We are only seeing a few foreclosures/bank owned properties in Piney Orchard so far, but chances are within the next 18 months we will see many more as adjustable rate mortgages kick-in.  Now that market values for Piney Orchard real estate have dropped properties are not as easily refinanced.  The reason being that homebuyers who have purchased with 100% financing after 2005 have actually seen a decrease in value. Therefore, it's difficult to refinance the full amount for those borrower's that can least afford a down payment.

This article that was posted on bankrate.com give a very thorough description of the new FHA program.

As millions of homeowners lie bleeding in the Subprime Corral, the feds ride in on an old mare to rescue a few borrowers…

Piney Orchard real estate in Odenton Maryland continues to defy market statistics with fairly robust sales.  Although there is a high inventory, there are more under contract properties than many other near by areas and subdivisions.  A few properties are sitting unsold beyond 60 days, however, those mostly relate to condition or pricing issues.

June statistics for Piney Orchard real estate show 143 active listings, with 10 homes under contract and 24 closed sales.  The average sales price of all homes sold was $357,954 and that includes townhomes, single family homes and condos.  The average closing help provided from the Seller to the buyer was at $4,700 with a high of $15k and 11 transactions that closed with no closing help provided.  Those properties…