Last week in the College Park market 8 homes went under contract, listed from $65,000-$229,900. We are still finding that the majority of pending sales in College Park are distressed sales (65%) as buyers try to get the best deals out there.

Rates rose slightly last week, averaging 5.2% on a 30 year fixed and 4.68% on a 15 year fixed rate mortgage.

CLOSED SALES: 7/20/2009 - 7/26/2009
1330 GOLFVIEW ST: 2/2 - 1,520 sq/ft - $174,900
2305 EDGEWATER DR #1210: 3/2/1 - 1,882 sq/ft - $412,500 *SS (Wellesley Condo)
2315 ANN ARBOR AVE: 2/1 - 940 sq/ft- $180,000
836 CAREW AVE: 3/2 - 1,647 sq/ft - $163,500 *SS
115 E SMITH ST #7: 2/1 - 930 sq/ft - $62,000 *BO

*SS - Short Sale
*BO - Bank Owned

OTHER MARKET ACTIVITY: 7/20/2009 - 7/26/2009
New Listings: 20
Pending Sales: 8
Price Reductions: 26

PRESENTLY ON THE MARKET: 7/27/2009
Active Listings: 268
Under 100K: 10
100K - 199,999: 81
200K - 299,999: 63
300K - 399,999: 42
400K - 499,999: 18
500K - 599,999: 17
600K - 699,999: 12
700K - 799,999: 7
800K - 899,999: 2
900K - 999,999: 5
Over $1,000,000: 11
Total Pending Sales: 43

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.