Stuart FL 34997 Condo Market Report May 2017
Stuart Real Estate Snapshot for ZIP Code 34997, Condo Sales for May 2017
For May 2017 in the 34997 Zip Code area of Stuart, Florida :
There are currently 61 active condo listings (Decreased by 9 condos from April).
22 Condo sales are pending and awaiting close or lender approval (Decreased by 22 condos from April).
37 Condos Sold in May (Increased by 32 condos from April).
The Stuart FL condo market for zip code 34997 had a surprisingly large jump in closed sales after a disapointing prior month. Pending sales are down, though, an it will be very difficult to have this kind of activity continue through the coming summer months. The inventoy is also down.
The absorption rate plunged to 1.6 months in May from 14 months for April. A huge shift into a sellers’ market for the 34997 zip code of Stuart FL. A 6 to 7 month absorption rate is typically considered to be a balanced market that favors neither the buyer nor the seller.
The May 2016 numbers were: 73 active listings, 40 pending sales and 17 closed sales. Considerably stronger closed sales this month compared to last year.
Stuart Florida Real Estate presented by:
Gabe Sanders
Stuart Real Estate Snapshot for ZIP Code 34997, Condo Sales for May 2017
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