Singer Island Florida – Weekly Market Update 05/21/10 – Condos for Sale

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2700 North Ocean

2700 North Ocean - Ultra-Luxury

There are 317 condos for resale on Singer Island; 18 condos are currently pending. Two condo sold within the past 7 days at 55% and 80% of their respective list price after being on the market for 244 and 68 days, respectively.  

Singer Island Active Listings-052110   

Rates for the 30-yr. fixed mortgage remained below the 5% benchmark at the lowest level this year going from 4.93 percent to 4.84%. This time last year the 30-year average was 4.82 percent. The average 15-year fixed mortgage rate fell as well from 4.30 percent last week to 4.24 percent.  

Worries over European debt is keeping mortgage rates low in the U.S.  Those homebuyers who rushed to purchase a home before the $8,000 credit expired on April 30, 2010, are now locking in their mortgage rates.  The low rates are definitely helping buyers purchase more. 

The majority (52 percent) of mortgage industry experts polled by Bankrate.com expect the rates to remain relatively unchanged in the next 30 to 45 days; 24 percent predict an increase while an equal number of experts, 24 %, expect rates to fall.  

 For more information on specific condominium sales activity contact Jeannie at 561-889-6734 or email her at [email protected]  

 

  

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