Weekly Condo Update – 2/27/09: Condos for sale in Singer Island, Florida

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There are 380 condos for resale on Singer Island; 3 condos sold in the last 7 days and 14 are currently pending. For the three sales, “days on market” were 385, 22 and 7 days, respectively. The sale prices were 81%, 90% and 67% of the list prices.

Mortgage rates for 30-yr fixed rate rose dlightly from last week with the average rate for 30-yr fixed mortgage averaging 5.07%, down from 5.04%; at this time last year, the 30-year, fixed-rate mortgage averaged 6.24 percent. The 15-yr fixed mortgage rate remained the same as last week at 4.68%; the comparable rate a year ago was 5.72 percent.

According to mortgage industry experts polled by Bankrate.com this week, the vast majority (60 percent) believe there will be no change in mortgage rates over the next 30 to 45 days, with another 20 percent thinking they will rise, and the last 20 percent believing the rates will decrease.



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

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