Singer Island Florida – Weekly Market Update 12/04/09 – Condos for Sale

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Singer Island, Florida

There are 347 condos for resale on Singer Island; 14 condos are currently pending. Three condos sold within the past 7 days at an average sales price of 86% of list; and average days on market of 315.

Rates for the 30-yr. fixed mortgage reached a new record low this past week falling below the previous record low of 4.78 percent to 4.71 percent. Last year at this time, the 30-year fixed mortgage averaged 5.97 percent. The 30-year has not been this low since the week ending April 30, 2009, when it averaged 4.78 percent.

The average 15-year fixed mortgage rate fell to a record low of 4.27 percent from 4.29 percent the previous week.

Sixty-two percent of the mortgage industry experts polled by Bankrate.com do not expect the record-low rates to last long.  Only 7 percent foresee an additional decrease over the next 30 to 45 days, while the remaining 31 percent expect no change.

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

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