Weekly Condo Update: 5/22/09 – Condos for Sale on Singer Island, Florida

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There are 370 condos for resale on Singer Island (6 new listings came on the market over this past week); 8 condos are currently pending and 3 condos sold within the past 7 days. The condos that sold closed for 80-90% of list price.

Rates on 30-year mortgages fell this week from 4.86% to a 4.82% average.  Rates have been below 5% for 10 consecutive weeks.  The average 15-year fixed mortgage rate also fell slightly from 4.52% to 4.50%.

According to mortgage experts polled by Bankrate.com, 55% predict that mortgage rates will remain the same by this time next week, 7% think they will fall and the remaining 38% 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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