Here in College Park things we a bit slow last week. We had 2 homes go under contract, one listed at $85,500 and one for $225,000. There were two closed sales (see below).

As you can tell, if you've been following the market through my updates, the largest percentage of homes moving are in the lower price brackets. Occasionally we are seeing a few higher end listings go under contract, but they are few and far between right now. More first time buyers are jumping into home ownership, but the move up buyers have a house to sell first, which is therefore resulting in fewer sales in those price ranges.

Within all price ranges, standing out with regard to condition and price is key. If you or someone you know is considering selling in the near future, getting the property in tip-top condition will be key. Curb appeal is HUGE in College Park, as well as move-in condition.

Have a great week and, as always, let me know if you have any questions about what I'm seeing in this market.

CLOSED SALES: 1/5/2009 - 1/11/2009
1312 W YALE ST: 3/2 - 1,471 sq/ft - $160,000
2509 FORMOSA AVE: 2/1 - 850 sq/ft - $150,000

OTHER MARKET ACTIVITY: 1/5/2009 - 1/11/2009
New Listings: 6
Pending Sales: 2
Price Reductions: 27

PRESENTLY ON THE MARKET: 1/12/2009
Active Listings: 277
Under 100K: 10
100K - 199,999: 40
200K - 299,999: 96
300K - 399,999: 33
400K - 499,999: 21
500K - 599,999: 18
600K - 699,999: 22
700K - 799,999: 13
800K - 899,999: 4
900K - 999,999: 4
Over $1,000,000: 16
Total Pending Sales: 17

The above numbers come from single family homes and condos listed in the MLS in the 32804 zip code. Please contact me for more specific information, or for statistics on commercial property or vacant land.