Stuart FL 34996 Condo Market Report May 2014

Stuart FL 34996 Condo Market Report May 2014

Stuart Real Estate Snapshot for ZIP Code 34996, Condo Sales for May 2014

For May 2014 in the 34996 Zip Code area of Stuart, Florida :

There are currently 145 active condo listings (Up by 3 condos from last month).

  35 Condo sales are pending and awaiting close or lender approval (Decreased by 11 condos from April).

26 Condos Sold in May (Decreased by 15 condos from April) 

Not a very positive month for the Stuart FL 34996 Condo Market Report May 2014 as compared to April.   Both pending and closed sales were off from last month.  However, we still have positive activity and this market has returned to a more sustainable rate from the extremely hot numbers from last month.  Inventory was up slightly.

The current absorption rate for the Stuart Florida condos in ZIP Code 34996 – increased to 5.6 months from April’s 3.5 months .   Still a sellers market representing a strong spring for the 34996 condo market of Stuart, FL.  A balanced market is considered to occur when the absorption rate is from 6 to 7 months.

The numbers for May 2012 were: 195 active listings, 33 pending sales and 25 closed sales.  When the considerably lower inventory is factored into the market activity, the 2014 numbers are much better than last year’s.