There are 380 condos for resale on Singer Island (4 new listings came on the market over this past week); 5 condos are currently pending and 2 condos sold within the past 7 days. The condos that sold closed for 87% and 90% of list price.
Rates on 30-year mortgages rose this week from a 4.78% average to a 4.84% average. Rates have been below 5% for eight consecutive weeks. The average 15-year fixed mortgage rate rose from 4.48% to 4.51%.
According to mortgage experts polled by Bankrate.com, 50% predict that mortgage rates will remain the same by this time next week, 31% think they will fall and the remaining 19% 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]