When I noticed both of the closed sales last week were condos, I decided to check how many condos/townhouses sold in College Park over the past 6 months. Out of the 94 closed sales, 10 were condos or townhomes. At that rate, with 64 active condo/townhouse listings, we have just over a 3 year supply of condos for sale, compared to a 15 month supply of single family homes.

Last week three properties went under contract in the 32804 zip code, two houses listed in the low-mid 400's and one at $249,000. There were 2 closed sales (see below).

Average rates last week rose to 5.25% on a 30 year fixed, 4.92% on a 15 year fixed. Bankrate.com polled industry experts last week and found that 50% feel rates will come down in the next 30-45 days.

CLOSED SALES: 2/2/2009 - 2/8/2009
2305 EDGEWATER DR #1414: 1/1 - 914 sq/ft - $157,500 (Wellesley condo) foreclosure
1204 MAURY RD #1204: 2/2 - 1,283 sq/ft - $200,000 (condo)

OTHER MARKET ACTIVITY: 2/2/2009 - 2/8/2009
New Listings: 9
Pending Sales: 3
Price Reductions: 22

PRESENTLY ON THE MARKET: 2/8/2009
Active Listings: 287
Under 100K: 11
100K - 199,999: 48
200K - 299,999: 99
300K - 399,999: 36
400K - 499,999: 16
500K - 599,999: 14
600K - 699,999: 31
700K - 799,999: 10
800K - 899,999: 4
900K - 999,999: 3
Over $1,000,000: 15
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.