Last week buyers must have been out Christmas shopping instead of buying houses as just 5 properties went pending...typical this time of year. Having said that, I have seen a 56% increase in the number of contracts written since this same time 2 years ago. Prices per square foot have certainly come down, but more buyers are moving on the great deals and rates. More investors are entering the market again as well.

As the economy has been improving slightly during the fourth quarter of 2010, mortgage rates have risen from their all time low of 4.17%. Rates last week averaged 4.6% on a 30 year conventional mortgage, up from 4.4% last week.

We are still at 218 active listings, but I expect that to rise after the first of the year.

The pending sales were listed as follows:
2 - $100,000 - $199,999
3 - $200,000 - $299,999

ACTIVE LISTINGS: 218
PENDING SALES: 72
CLOSED SALES: 11/29/2010 - 12/5/2010

VACANT LAND
ACTIVE: 19
PENDING: 1
SOLD (1/1/2010 - 11/29/2010): 4
Gerda Street: $162,000
620 Stetson: $155,000
717 Langston Court: $61,750
1568 Eastin Avenue: $206,000

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