Last week in the College Park market 9 properties went pending priced from $47,500 - $182,500. Two were bank owned, one was a short sale and the others were "normal" listings. Still not a lot of activity in the higher end bracket. In the past two weeks there have just been two houses that have gone under contract in the 300-400K price range. Everything else has been in the 200s or below. The chart below shows the average price of what has been for sale in College Park vs. the average price of what has been selling over the past year. For the higher end sellers, patience is the name of the game right now.


Our inventory remains at 255 listings (54 are condos). There are 73 pending sales and 66% of those are short sales or bank owned properties.

Average mortgage rates remain under 5% dropping slightly last week to 4.95% on a conventional 30 year fixed rate loan and 4.32% on a 15 year.

ACTIVE LISTINGS: 255
PENDING SALES: 73
CLOSED SALES: 3/8/2010 - 3/14/2010


VACANT LAND
ACTIVE: 28
PENDING: 1
SOLD (1/1/2010 - 3/15/2010): 0

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