Last week in the College Park market there were 11 new listings, 17 price reductions and 9 properties that went under contract. One of the pending sales was listed at $545,000 and the remaining 8 were under $225,000.
Average mortgage rates last week were the lowest they've been since the tracking of rates began back in 1971, down to 4.69%!! Even with the low rates, we are now seeing a decrease in the number of pending sales with the expiration of the tax credit. Rates are predicted to remain low, so hopefully we will stay the course at a steady pace and continue to work through our inventory.
ACTIVE LISTINGS: 244
PENDING SALES: 74
CLOSED SALES: 6/21/2010 - 6/27/2010
VACANT LAND
ACTIVE: 30
PENDING: 1
SOLD (1/1/2010 - 4/18/2010): 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.
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