Weekly Condo Update 08/21/09 – Condos for Sale on Singer Island, Florida

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There are 342 condos for resale on Singer Island; 10 condos are currently pending. Two condos sold within the past 7 days for 62% and 96% their original list price; being on the market for 479 days and 131 days, respectively.

Rates dipped this week to their lowest level since May. The 30-yr fixed mortgage was 5.12% this week down from 5.29%. Last year at this time, the 30-yr mortgages averaged 6.47 percent. The average 15-year fixed mortgage rate also fell to 4.56% from 4.68%.

According to mortgage experts polled by Bankrate.com, only 23 percent expect mortgage rates to increase over the next 30 to 45 days; whereas the remaining experts are fairly evenly split between the rates decreasing (38 percent) and remaining relatively unchanged (39 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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