Last week two higher end houses went under contract that I've been watching for awhile here in College Park. Both were exceptional, one on a golf course and one on a lake. I'll admit, I've coveted both of them just slightly...they're both great houses. Both have been listed for quite some time and deep down I knew what list price they would both need to get to before they got an offer, however, I was hoping they would be able to sell for more. Sure enough, the price reductions came, and came again, until finally they were at the point where a buyer was ready to snag "the deal".

That's just how it is out there right now. Buyers are waiting and watching, and not ready to make a move until they feel they are getting a great deal. They know they can, and they are.

Rates ended the week averaging at 5.42% on a 30 year fixed rate and 4.87% on a 15 year.

CLOSED SALES: 6/22/2009 - 6/28/2009
521 GREELY ST: 4/2/1 - 2,884 sq/ft - $525,000
1408 SHADY LANE DR: 2/1 - 1,024 sq/ft - $135,000 *SS
4212 GRANT BLVD: 3/3 - 2,081 sq/ft - $279,000 *BO

*SS - Short Sale
*BO - Bank Owned

OTHER MARKET ACTIVITY: 6/22/2009 - 6/28/2009
New Listings: 7
Pending Sales: 5
Price Reductions: 22

PRESENTLY ON THE MARKET: 6/29/2009
Active Listings: 279
Under 100K: 9
100K - 199,999: 74
200K - 299,999: 69
300K - 399,999: 51
400K - 499,999: 16
500K - 599,999: 20
600K - 699,999: 16
700K - 799,999: 5
800K - 899,999: 4
900K - 999,999: 6
Over $1,000,000: 9
Total Pending Sales: 45

VACANT LAND:
ACTIVE: 30
PENDING: 1
SOLD (YTD 6/15/09): 1

The above numbers for College Park Update come from single family homes, condos and land listed in the MLS in the 32804 zip code.