Weekly Condo Update 07/31/09 – Condos for Sale on Singer Island, Florida

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There are 341 condos for resale on Singer Island; 8 condos are currently pending. Two condos sold within the past 7 days for 44% and 72% their original list price; being on the market for 260 days and 360 days, respectively.

Rates rose for second straight week. The 30-yr fixed mortgage was 5.25% this week up from 5.20%. Last year at this time, the 30-yr mortgages averaged 6.52 percent.  The average 15-year fixed mortgage rate rose slightly to 4.69% from 4.68%.

According to mortgage experts polled by Bankrate.com, 38 percent expect mortgage rates to fall over the next 30 to 45 days; whereas the remaining experts are everly split between the rates increasing (31 percent) and remaining relatively unchanged (31 percent).

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

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