Weekly Market Report – 12/26/08: Condos for Sale on Singer Island, Florida

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There are 353 condos for resale on Singer Island; 1 condo sold in the last 7 days and 17 are currently pending. For the sale, “days on market” was 543 days. The sale price was 57% of the list price.

Mortgage rates for 30-yr fixed rates have dropped for the 8th straight week to their lowest levels in at least 37 years with the average rate for 30-yr fixed mortgages dropping to 5.14%, down from this year’s previous low of 5.19% last week; and the 15-yr fixed mortgage rate averaged 4.91%, down slightly from 4.92% last week.  Mortgage applications were up a seasonally adjusted 48% last week, compared with the week before.

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