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.
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