Weekly Condo Update 08/14/09 – Condos for Sale on Singer Island, Florida

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There are 339 condos for resale on Singer Island; 11 condos are currently pending. Only one condo sold within the past 7 days for 52% its original list price; being on the market for 607 days.

Rates rose this week with the 30-yr fixed mortgage at 5.29% compared to 5.22% last week.  Last year at this time, the 30-yr mortgages averaged 6.52 percent. The average 15-year fixed mortgage rose as well to 4.68% from 4.63%.

According to mortgage experts polled by Bankrate.com, 38 percent expect mortgage rates to decrease over the next 30 to 45 days; whereas the remaining experts are evenly 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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