Weekly Condo Update: 5/15/09 – Condos for Sale on Singer Island, Florida

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There are 373 condos for resale on Singer Island (4 new listings came on the market over this past week); 7 condos are currently pending and 2 condos sold within the past 7 days. The condos that sold closed for 74% and 87% of list price.

Rates on 30-year mortgages rose this week from a 4.84% average to a 4.86% average.  Rates have been below 5% for nine consecutive weeks.  The average 15-year fixed mortgage rate rose from 4.51% to 4.52%.

According to mortgage experts polled by Bankrate.com, 42% predict that mortgage rates will remain the same by this time next week, 29% think they will fall and the remaining 29% think mortgage rates will rise.

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

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