Finally! There sure has been great news lately about the real estate market slowly inching toward a recovery. Music to my ears and yours too, I'm sure. Here in College Park, we're staying pretty close to the same number of closed sales as this time last year. As far as price per square foot, the median for the year has come down about 15% compared to last year. Each segment is different, however. For example, on homes with over 3000 sq/ft, the median price per square foot has come down 34%

Last week in the College Park market 7 homes went under contract, 6 listed from $65,000-$267,00 and a short sale with 3,418 sq/ft listed at $460,000.

Rates rose again last week, averaging 5.25% on a 30 year fixed and 4.689% on a 15 year fixed rate mortgage. This time last year rates on a 30 year were 6.52%.

CLOSED SALES: 7/27/2009 - 8/2/2009
203 W WINTER PARK ST: 3/2 - 1,350 sq/ft - $205,000
2050 COUNTRY SIDE CIR: 2/2 - 1,466 sq/ft - $190,000
724 SEMINOLE AVE: 3/1 - 480 sq/ft- $55,730
854 CARLSON DR: 3/2 - 916 sq/ft - $90,000
25 E NEW HAMPSHIRE ST: 4/3/1 - 4,142 sq/ft - $605,000
4724 GODDARD AVE: 3/1 - 1,150 sq/ft - $118,900

*SS - Short Sale
*BO - Bank Owned

OTHER MARKET ACTIVITY: 7/27/2009 - 8/2/2009
New Listings: 11
Pending Sales: 7
Price Reductions: 12

PRESENTLY ON THE MARKET: 8/3/2009
Active Listings: 267
Under 100K: 12
100K - 199,999: 80
200K - 299,999: 68
300K - 399,999: 39
400K - 499,999: 16
500K - 599,999: 16
600K - 699,999: 12
700K - 799,999: 7
800K - 899,999: 2
900K - 999,999: 4
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.