There are 334 condos for resale on Singer Island; 11 condos are currently pending. Six condos sold within the past 7 days for an average sales price 87% of list; and aveage days on market of 281 days.
Rates for the 30-yr. fixed mortgage dipped below 5 percent after climbing for three straight weeks; down to 4.98 percent from 5.03%. The average 15-year fixed mortgage rate decreased as well to 4.40% from 4.46%.
Pending sales on existing homes rose for the eighth straight month in September, while residential construction spending jumped by 3.9 percent, the largest gain in more than six years. Still lenders are cautious and stardards remain tight, so the best rates are available only to borrowers with solid credit and a 20 percent downpayment.
According to mortgage experts polled by Bankrate.com, 50 percent expect rates to remain the same over the next 30 to 45 days; while 43 percent foresee an increase and only 7 percent expect further reduction.
For more information on specific condominium sales activity contact Jeannie at 561-889-6734 or email her at [email protected]