Weekly Condo Update 07/03/09 – Condos for Sale on Singer Island

There are 342 condos for resale on Singer Island; 11 condos are currently pending. Three condos sold within the past 7 days for an average 66% their original list price.

Rates dropped slightly this past week. The 30-yr fixed mortgage was 5.32% this week down from 5.42%. The average 15-year fixed mortgage rate fell to 4.77% from 4.87%.

According to mortgage experts polled by Bankrate.com, only 8 percent expect mortgage rates to rise over the next 30 to 45 days.  The remaining experts are evenly split between rates decreasing and no change at all.

For more information on specific condominium sales activity contact Jeannie at 561-889-6734 or email her at Jeannie@JWalkerGroup.com.