Weekly Market Update – 2/13/09: Condos for Sales on Singer Island, Florida

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There are 377 condos for resale on Singer Island; 2 condos sold in the last 7 days and 18 are currently pending. For the two sales, “days on market” were 71 and 35 days, respectively. The sale prices were 92% and 76% of the list prices.

Mortgage rates for 30-yr fixed rate decreased from last week with the average rate for 30-yr fixed mortgage averaging 5.16%, down from 5,25%; at this time last year, the 30-year, fixed-rate mortgage averaged 5.72 percent. The 15-yr fixed mortgage rate decreased y to 4.81% compared to 4.92% last week; the comparable rate a year ago was 5.25 percent.

According to mortgage industry experts polled by Bankrate.com this week, 50 percent believe mortgage rates will drop over the next 30 to 45 days, with another 14 percent thinking they will rise , and the last 35 percent believing the rates will remain the same.


For more information on specific condominium sales activity contact Jeannie at 561-889-6734 or email her at [email protected]

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