Stuart FL 34997 Residential Market Report May 2017
Stuart Florida Real Estate Snapshot for ZIP Code 34997, Residential Sales for May 2017
There are currently 291 active listings (Decreased by 39 homes from April).
168 Residential sales are pending and awaiting close or lender approval (Down by 9 homes from April).
104 Homes Sold in May (Increased by 24 homes from April)
The Stuart Florida Residential Market for ZIP Code 34997 showed a decrease in inventory for may along with a sizeable jump in closed sales. The pending numbers are off a bit and may show some slower closed sale activity for the near future.
The absorption rate increased to 2.8 months (was 4.1 months for April). We’re in an extreme sellers’ market for the 34997 zip code area of Stuart for may 2017. Typically a balanced market, favoring neither the seller or buyer, is represented by a 6 to 7 month absorption rate.
The 2016 numbers for May, were: 304 active listings, 216 pending listings and 109 closed sales. Even with such strong activity for this year, the market was more active in 2016.
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Stuart Florida Real Estate presented by:
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