Last week in the College Park market there were 9 new listings, 18 price reductions and 7 properties that went under contract. The pending sales were listed from $89,900 through $550,000. One of my listings was in that mix, proving that properties priced properly, right out of the gate, will move fairly quickly. We were negotiated and under contract in 17 days.

Mortgage rates dropped AGAIN! Last week rates on a 30 year, conventional loan AVERAGED 4.54%. Buyers with great credit can do even better.

ACTIVE LISTINGS: 249
PENDING SALES: 67
CLOSED SALES: 7/26/2010 - 8/1/2010

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.