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]