Weekly Market Update – 2/20/09: Condos for Sale on Singer Island, Florida

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There are 372 condos for resale on Singer Island; 1 condo sold in the last 7 days and 18 are currently pending. The one condo sold for $300,000 and was on the market for 109 days. The condo sold for approximately 75% of list price.

Mortgage rates for 30-yr fixed rate decreased from last week with the average rate for 30-yr fixed mortgage averaging 5.04%, down from 5.16%; at this time last year, the 30-year, fixed-rate mortgage averaged 6.04 percent. The 15-yr fixed mortgage rate decreased to 4.68% compared to 4.81% last week; the comparable rate a year ago was 5.64 percent.


According to mortgage industry experts polled by Bankrate.com this week, 46 percent believe mortgage rates will drop over the next 30 to 45 days, with another 18 percent thinking they will rise, and the last 36 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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