Weekly Condo Update: 5/8/09 – Condos for Sale on Singer Island, Florida

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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]

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