I thought I would take this opportunity to reflect on what we saw here in College Park this past year and how it compares to years past. I have read many predictions that when prices get back to those of 2003, we will know we've hit bottom. Again, these are just predictions, but if they are close we have reason to feel hopeful. When you compare our recent activity to that of 2003 (below), we are pretty dead on. We may have a little further to go, but we have to be getting close. Prices will most likely drop in the higher price ranges this year, but homes in the lower bracket should be close to bottoming out. It is possible that as the higher priced homes fall, the lower end could slide a bit futher, but not much. These predictions are not only based on what is going on in College Park, but also the Florida and National statistics that I follow.
When reviewing the following charts, please keep in mind that the sold activity represents MEDIAN price ranges, half were lower and half were higher. In other words, these numbers don't just plug in to any square footage amount, etc. As real estate is not apples to apples, let me know if you would like a deeper breakdown on your particular property.
We begin 2010 with 245 active listings, 197 of which are single family homes.
SOLDS 12/28/09 - 1/3/2010
2305 Edgewater Dr. #1504: 1/1 - 911 sq/ft - $116,000 (Short Sale)
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