You can't listen to the news these days without hearing talk of short sales, foreclosures, bank owned property, etc. It is all such a huge part of the real estate market now and is here to stay for awhile. You might wonder how College Park is being affected by distress sales (short sale or bank owned).

In College Park (32804):
16% of all Active Listings are distress sales
64% of all Pending Listings are distress sales

Here's the percentage of the distress sale activity around us. There are different areas within the following cities that fare differently, so let me know if you'd like a breakdown of a particular zip code.

Orlando:
Active - 46%
Pending - 74%
Winter Park:
Active - 20%
Pending - 53%
Maitland:
Active - 31%
Pending - 64%

The majority of buyers out there today are clearly looking for the best deal they can get, which in many cases, is going to be a property in pre-foreclosure or one already taken back from the back. Unfortunately the appraisers have to use these sales as comps and therefore prices continue to come down.

CLOSED SALES: 5/18/2009 - 5/24/2009
118 W EVANS ST: 3/2 - 1,032 sq/ft - $168,797 *SS
920 ASHINGTON PL#12: 3/2 - 1,962 sq/ft - $313,000
220 E HARVARD ST: 4/2 - 1,889 sq/ft - $331,000
1407 GOLFVIEW ST: 2/1 - 1,038 sq/ft - $129,000
2915 HELEN AVE: 2/1 - 952 sq/ft - $155,000 *BO
2305 EDGEWATER DR#1616: 2/2 - 1,115 sq/ft - $210,000 *BO
2931 HELEN AVE: 2/1 - 1,056 sq/ft - $203,000
913 N. WESTMORELAND DR: - 3/2 - 1,666 sq/ft - $282,000

*SS - Short Sale
*BO - Bank Owned

OTHER MARKET ACTIVITY: 5/18/2009 - 5/24/2009
New Listings: 18
Pending Sales: 8
Price Reductions: 20

PRESENTLY ON THE MARKET: 5/26/2009
Active Listings: 288
Under 100K: 11
100K - 199,999: 57
200K - 299,999: 84
300K - 399,999: 51
400K - 499,999: 17
500K - 599,999: 18
600K - 699,999: 18
700K - 799,999: 5
800K - 899,999: 7
900K - 999,999: 7
Over $1,000,000: 13
Total Pending Sales: 44

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.