We are down to 155 homes for sale in the 32804 zip code. Ever shrinking, our inventory hasn't been this low since February of 2006. While the number of closed sales is down, pending sales are up significantly. Put it all together and you have signs of strength in the College Park market.
ACTIVE LISTINGS: 155
PENDING SALES: 100
CLOSED SALES: 6/27/2011 - 8/30/2011
VACANT LAND
ACTIVE: 15
PENDING: 0
SOLD (1/1/2011 - 8/30/2011): 5
0 Niblick Way: $45,000
550 Clayton Street: $72,000
534 w. Yale Street: $160,000
4036 Anchor Way: $302,500 (Lakefront-Lk. Fairview)
222 Orlando Street: $205,000
The above numbers for College Park Update come from single family homes, condos and land listed in the MLS in the 32804 zip code.
I
nventory in College Park is the lowest it's been since 2006. This means good news for sellers with properties in good condition and priced right...those are flying off the shelves. There were a few listings that sold this month that were only on the market about 2 weeks because they had nice manicured yards, were in good condition (move in ready), and were priced in line with market values. So if that's your case, then yes, it's a good time to sell. Average rates are still down around 4.5%.
ACTIVE LISTINGS: 184
PENDING SALES: 79
CLOSED SALES: 6/1/2011 - 6/26/2011
VACANT LAND
ACTIVE: 13
PENDING: 1
SOLD (1/1/2011 - 6/15/2011): 3
550 Clayton Street: $72,000
534 w. Yale Street: $160,000
4036 Anchor Way: $302,500 (Lakefront-Lk. Fairview)
The above numbers for College Park Update come from single family homes, condos and land listed in the MLS in the 32804 zip code.
Here in College Park I suppose you could say things are looking positive in many ways. Our inventory is still low, our pending sales are up over last year and our average sold price per square foot has remained the same, year over year. The uncertainty lies within the number of foreclosures lingering out there. At this time, 25% of the active listings in the 32804 zip code are either bank owned or short sales. Windermere and Winter Park have seen this percentage decline, hopefully we will follow suit shortly.
ACTIVE LISTINGS: 193
PENDING SALES: 77
VACANT LAND
ACTIVE: 13
PENDING: 1
SOLD (1/1/2011 - 6/15/2011): 3
550 Clayton Street: $72,000
534 w. Yale Street: $160,000
4036 Anchor Way: $302,500 (Lakefront-Lk. Fairview)
The above numbers for College Park Update come from single family homes, condos and land listed in the MLS in the 32804 zip code.
Our inventory is now at a 5 year low with 191 active listings in the 32804 zip code. Rates are still under 5 percent, averaging 4.87% last week on a 30 year mortgage.
ACTIVE LISTINGS: 191
PENDING SALES: 75
CLOSED SALES: 2/7/2011 - 3/7/2011
VACANT LAND
ACTIVE: 17
PENDING: 2
SOLD (1/1/2010 - 12/31/2010): 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.
Over the past two weeks in the College Park market 15 properties went pending and there were 5 closed sales. It's taking awhile for the pending sales to close as 60% of the properties under contract are short sales.
We are now down to 193 properties listed for sale in College Park. This is super good news! The last time our inventory was down below 200 was in May of 2006. With more buyers entering the market as of late, supply and demand will hopefully prevent prices from falling as hard as in other parts of town.
Average rates on a 30 year mortgage rose slightly last week to 4.81%. Still great.
The pending sales were as follows:
Under $100,000 - 6
$100,000 - $199,999 - 5
$200,000 - $299,999 - 4
ACTIVE LISTINGS: 193
PENDING SALES: 82
CLOSED SALES: 1/24/2011 - 2/6/2011
VACANT LAND
ACTIVE: 17
PENDING: 2
SOLD (1/1/2010 - 12/31/2010): 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.
I have definitely seen an up-tick in activity recently. With rates on the rise and the economy taking a slight turn for the better, I think many buyers are realizing this is as good a time as any to go ahead and make a move. I am also seeing more investors picking up bank owned properties.
Over the past two weeks 17 properties went pending. Buyers are still looking for the "steals" however, as all but four are short sales or bank owned.
The pending sales were as follows:
Under $100,000 - 3
$100,000 - $199,999 - 10
$200,000 - $299,999 - 4
ACTIVE LISTINGS: 205
PENDING SALES: 73
CLOSED SALES: 1/10/2011 - 1/23/2011
VACANT LAND
ACTIVE: 17
PENDING: 2
SOLD (1/1/2010 - 12/31/2010): 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.
As we begin 2011 with the hope of a stable economy, I wanted to share how the College Park real estate market has changed over the past two years. I think you will be mostly pleased.
The following chart shows some real positive information. Our inventory has steadily declined since the beginning of '09 while the number of closed and pending sales has increased. The numbers aren't drastic, but definitely moving in the right direction.
The chart below shows how our prices per square foot have come down over the past two years, but that has to happen as we recover. Our AVERAGE per square foot sold prices are coming in around where we were in the last 6 months of '01.
The above numbers represent all single family properties. Feel free to email me if you would like a more specific break down.
4% mortgage rates are on their way out the door. Last week the average rate on a 30 year conventional mortgage was 4.77%. According to bankrate.com, experts predict rates to be between 5%-6% for 2011. If you are contemplating a refinance or home purchase, don't want too much longer.
Last week there were 6 closed sales posted and 6 properties that went pending. The pending sales were as follows:
Under $100,000 - 2
$100,000 - $199,999 - 3
$200,000 - $299,999 - 1
ACTIVE LISTINGS: 209
PENDING SALES: 67
CLOSED SALES: 1/3/2011 - 1/9/2011
VACANT LAND
ACTIVE: 17
PENDING: 2
SOLD (1/1/2010 - 12/31/2010): 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.
So here we go. It's a new year. I'm sure you're with me on this...I sure am ready for the real estate market to stabilize. Experts predict we will continue to drop some in 2011 nationwide, but the way I see it, College Park continues to hold stronger than most areas. Yes, our distressed inventory is still at 28%, however, that number has not gone up that much since I first ran this report in October of '09. We were at 21% then. Other parts of town have seen as much as 15% increase in the number of active distressed listings. If you compare our numbers to other areas, we are in much better shape. When things start to rebound, we will be among the first to recover.
There are some amazing deals out there right now. Let's hope 2011 brings more and more buyers looking to College Park, one of the most thriving communities in the Orlando area.
ACTIVE LISTINGS: 207
PENDING SALES: 70
CLOSED SALES: 12/6/2010 - 1/2/2011
VACANT LAND
ACTIVE: 17
PENDING: 2
SOLD (1/1/2010 - 12/31/2010): 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.
