The College Park real estate market was a bit slower last week with just 4 houses going under contract. This is typical activity as we start inching toward the end of summer. Historically sales peak in June, slow down a little in July and significantly drop off in August. On the bright side, our inventory keeps falling and we are now down to 264 active listings.

Rates came down again last week, averaging 5.14% on a 30 year fixed and 4.63% on a 15 year fixed rate mortgage.

CLOSED SALES: 7/13/2009 - 7/19/2009
1421 W HARVARD ST: 2/2 - 1,622 sq/ft - $155,000 *SS
1517 ARTHUR ST: 3/2/1 - 1,708 sq/ft - $325,000
604 SHERIDAN BLVD: 3/2 1,544 sq/ft - $318,000
225 W SPRUCE ST: 3/2 - 2,049 sq/ft - $218,000

*SS - Short Sale
*BO - Bank Owned

OTHER MARKET ACTIVITY: 7/13/2009 - 7/19/2009
New Listings: 11
Pending Sales: 4
Price Reductions: 32

PRESENTLY ON THE MARKET: 7/21/2009
Active Listings: 264
Under 100K: 11
100K - 199,999: 75
200K - 299,999: 62
300K - 399,999: 45
400K - 499,999: 18
500K - 599,999: 17
600K - 699,999: 12
700K - 799,999: 6
800K - 899,999: 2
900K - 999,999: 6
Over $1,000,000: 10
Total Pending Sales: 42

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.