Last week in the College Park market 10 homes went pending, helping to bring our inventory even lower. Inventory is the lowest it's been since February of '07, which is very good for folks who are trying to sell property right now. Our average selling price has come up slightly as we start to see an increase in buyers making home purchases above $200,000.

Mortgage rates dropped slightly again last week, averaging 5.07% on a 30 year fixed and 4.5% on a 15 year.

CLOSED SALES: 9/7/2009 - 9/13/2009
226 W SPRUCE ST: 4/2 - 1,736 sq/ft - $197,500
2305 EDGEWATER DR #1614: 1/1 - 914 sq/ft - $119,950 *SS (Wellesley)
115 E KING ST: 3/2 - 1,650 sq/ft - $167,000

*SS - Short Sale

OTHER MARKET ACTIVITY: 9/7/2009 - 9/13/2009
New Listings: 5
Pending Sales: 10
Price Reductions: 21

Active Listings: 247



Total Pending Sales: 62

VACANT LAND:
ACTIVE: 30
PENDING: 0
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.