Looks like a lot was going on in the 32804 while I was on vacation! There were some encouraging sales posted...nice to see something sell over $1 million. It's been awhile since we've seen that in College Park.

Just when you thought rates couldn't get any lower, they did. Average rates on a 30 year conventional loan were the lowest they've been in the history of tracking rates, rounding out at 4.57% last week. The qualified buyers out there are hopefully realizing these low rates, combined with the decline in values over the past year, make it a great time to buy.

Over the past two weeks in the College Park market there were 29 new listings, 34 price reductions and 18 properties that went under contract. Of the pending properties, 16 were listed under $220,000, 1 at $310,000 and another at $449,000.

ACTIVE LISTINGS: 245
PENDING SALES: 71
CLOSED SALES: 6/28/2010 - 7/11/2010 (2 week period)


VACANT LAND
ACTIVE: 28
PENDING: 2
SOLD (1/1/2010 - 7/11/2010): 2
Gerda Street: $162,000
620 Stetson: $155,000

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