Just when I thought I was done telling you that rates were the lowest they'd ever been in the history of tracking them, they came down even further! Last week rates on a 30 year conventional loan averaged 4.17%. Unfortunately the low rates aren't doing much to stimulate the national housing market. In the third quarter of this year the number of sales fell by 21% nationally. In contrast, here in College Park the number of closed transactions rose by 15.3% in Q3. Real estate is so local...what you hear on the news about the U.S. market as a whole doesn't always apply here. Call me anytime if you ever want to know more.

The end of year slow down continues with 6 pending sales last week and just 10 new listings.

The pending sales were listed as follows:
2 - Under $100,000
2 - $100,000 - $199,999
2 - $200,000 - $299,999

ACTIVE LISTINGS: 228
PENDING SALES: 73
CLOSED SALES: 11/8/2010 - 11/14/2010

VACANT LAND
ACTIVE: 18
PENDING: 2
SOLD (1/1/2010 - 8/29/2010): 3
Gerda Street: $162,000
620 Stetson: $155,000
717 Langston Court: $61,750

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