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.