The past two weeks have been very active in the College Park market;
14 new listings
34 price reductions
23 pending sales!
The pending sales were listed as follows:
14 under $200K,
5 between $200-$300K
3 between $300-$400K
1 listed at $859,000
I'm thrilled to see our inventory down to 238 active listings. We haven't seen that since the beginning of May. Our pending sales, year over year, have gone up 12.5% from July '09 - July-'10. Most of the buyers are still in the under 200K range, but a few have taken advantage of the great rates to purchase some of the higher end homes as well. College Park is still proving to be one of the stronger markets in the Orlando area.
For the 9th time in 10 weeks, mortgage rates have fallen. Last week rates averaged 4.36% on a 30 year conventional loan.
ACTIVE LISTINGS: 238
PENDING SALES: 77
CLOSED SALES: 8/16/2010 - 8/29/2010 (two week period)
VACANT LAND
ACTIVE: 22
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.
The past two weeks have been pretty active in the College Park market;21 new listings 39 price reductions 12 pending sales The pending sales were listed as follows: 7 under $200K, 2 between $200-$300K, 2 between $300-$400K 1 listed at $995,000. There are currently 63 pending sales in the 32804 zip code and 68% are listed under $200,000. Of the 63, 75% are short sales or bank owned properties.
Over the past few months high-end sales (over $500K) have picked up, always good to see. With rates this low and with the price declines we've seen, what a great time to buy. Some of my clients who have owned their homes for a long time, and have low mortgages, are choosing to hang onto their first homes as rentals and are moving up. The rental market is really strong right now, especially on properties that are in really good shape.
Speaking of low rates, for the 7th time in the past 8 weeks, mortgage rates have dropped. On average, borrowers were getting 30 year conventional mortgages at 4.44% last week. If you have equity in your home and want to refinance, average rates last week on a 15 year mortgage were 3.92%. Wow.
ACTIVE LISTINGS: 252
PENDING SALES: 63
CLOSED SALES: 8/2/2010 - 8/15/2010 (two week period)
VACANT LANDSOLD: 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.
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.
