Weekly Condo Update 09/04/09 – Condos for Sale on Singer Island, Florida

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Singer Island, Florida

There are 335 condos for resale on Singer Island; 8 condos are currently pending. Five condos sold within the past 7 days for an average 78% their original list price; being on the market for an average 217 days.

Rates moved lower this week remaining near the record lows with the 30-yr fixed mortgage at 5.08% down from 5.14%. The average 15-year fixed mortgage rate also decreased slightly to 4.54% from 4.58%. Despite government efforts to prop up the mortgage market, qualifying for a loan is still tough. Lenders have tightened their standards dramatically over the past year, so the best rates are available to those with solid credit and a 20 percent down payment.

According to mortgage experts polled by Bankrate.com, half (50 percent) expect mortgage rates to decrease over the next 30 to 45 days; whereas the remaining experts are fairly evenly split between the rates increasing (21 percent) and remaining relatively unchanged (29 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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