There are 350 condos for resale on Singer Island; 14 condos are currently pending. Two condos sold within the past 7 days at a sales price of 82% and 71% of list; and days on market of 76 and 301, respectively.
Rates for the 30-yr. fixed mortgage rose to 4.81 percent this week up from the record low last week of 4.71 percent; still remaining below the 5 percent benchmark. Last year at this time, the 30-year fixed mortgage averaged 5.47 percent.
The average 15-year fixed mortgage rate rose to 4.32 percent from 4.27 percent the previous week.
Mortgage applications to buy a home rose 4 percent last week, while refinance applications jumped 11 percent from th prior week according to the Mortgage Bankers Association.
Fifty-seven percent of the mortgage industry experts polled by Bankrate.com expect the rates to rise over the next 30 to 45 days; while 14 percent foresee an additional decrease and the remaining 29 percent expect no change.
For more information on specific condominium sales activity contact Jeannie at 561-889-6734 or email her at [email protected]