Weekly Condo Update 08/07/09 – Condos for Sale on Singer Island

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There are 340 condos for resale on Singer Island; 8 condos are currently pending. Two condos sold within the past 7 days for 71% and 90% their original list price; being on the market for 388 days and 109 days, respectively.

Rates dipped this week on better than expected economic news.  The 30-yr fixed mortgage was 5.22% this week down slightly from 5.25%. Last year at this time, the 30-yr mortgages averaged 6.52 percent. The average 15-year fixed mortgage rate also fell slightly to 4.63% from 4.69%.

According to mortgage experts polled by Bankrate.com, 50 percent expect mortgage rates to increase over the next 30 to 45 days; whereas the remaining experts are evenly split between the rates decreasing (25 percent) and remaining relatively unchanged (25 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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