Last week 6 listings went under contract...more of the usual, with one exception. A lakefront short sale listed at 1,500,000 went pending. We haven't seen anything in that price range go under contract in quite some time. This house is amazing, however, and seems like a great deal at that price. It will be interesting to see how the deal unfolds and what the bank decides to accept.

There are 62 properties under contract right now in 32804, but as most of them are short sales, we aren't seeing the closings happen very quickly.

Mortgage rates dropped again last week, averaging 5.04% on a 30 year fixed and 4.47% on a 15 year. The 15 year rates are at the lowest level on record, dating back to 1991.

CLOSED SALES: 9/14/2009 - 9/20/2009
775 TIMOR AVE: 2/1 - 707 sq/ft - $26,900 *BO
726 CARLSON DR: 2/1 - 1,442 sq/ft - $105,400 *BO

*BO = Bank Owned

OTHER MARKET ACTIVITY: 9/14/2009 - 9/20/2009
New Listings: 8
Pending Sales: 6
Price Reductions: 11

Active Listings: 247



Total Pending Sales: 62

VACANT LAND:
ACTIVE: 28
PENDING: 2
SOLD (YTD 8/10/09): 3
848 TIMOR: $23,000
723 EDGEWATER: $63,900
1716 FAIRVIEW SHORES: $295,000 (lakefront)

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